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CHERIE BLAIR FOUNDATION FOR WOMEN PARTNERS WITH EXXON MOBIL FOUNDATION TO EMPOWER WOMEN BUSINESS OWNERS IN NIGERIA THROUGH FINANCIAL LITERACY INITIATIVE

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Today, the Cherie Blair Foundation for Women celebrated an innovative new
initiative to empower women entrepreneurs to grow their businesses. Developed
with the support of the ExxonMobil Foundation, the Road to Women’s Business
Growth project aims to inspire women owners of small businesses in Nigeria by
building their management and financial literacy skills.
Watch the video on youtube page here:

Women entrepreneurs worldwide face significant barriers to accessing
financial services. Research shows that women-owned entities represent more
than 30 percent of registered businesses globally, but only 10 percent of women
entrepreneurs have access to the capital needed to grow their businesses(1). In
Nigeria, there is a persistent gender gap in financial inclusion, with only 34
percent of women having access to a bank account versus 54 percent of men(2).
The Road to Women’s Business Growth initiative aims to address this gap by
building the business management and financial literacy skills of women
entrepreneurs, empowering them with the knowledge and tools they need to grow
profitable and sustainable businesses. The project is implemented in
collaboration with the Enterprise Development Centre of Pan-Atlantic
University, Diamond Bank and Emerging360.
The initiative kicked off at the end of 2015 in Lagos, Abuja and Uyo. To
date, 500 women small business owners have received training in business
management and financial literacy. The custom-built curriculum, which combines
in-class instruction and online learning, is specifically designed to meet the needs
of women owners of small businesses in Nigeria. Over the next six months, the
women entrepreneurs will continue to receive support to build their businesses,
with 100 of them receiving more intensive business support, including
workshops, mentoring, and linkages to financial services, investment, and
markets.
The Road to Women’s Business Growth initiative was celebrated today at a
special event to mark International Women’s Day at the Enterprise Development
Centre of Pan-Atlantic University in Lagos. Cherie Blair, founder of the Cherie
Blair Foundation for Women and wife of the former British Prime Minister Tony
Blair, said, “Women entrepreneurs play a powerful role in their societies and
economies, often succeeding against huge odds. My Foundation is committed to
supporting women in developing and emerging markets to access the skills,
networks, technology and financial services they need to establish and grow
successful businesses.” She continued, “Our Road to Women’s Business Growth
initiative will empower Nigerian women entrepreneurs to unlock the skills and
tools they need to drive growth in their businesses and communities.”
Government officials, community leaders and women entrepreneurs attended
the special event. Approximately 250 women business owners participating in the
program were also present, and celebrated completing the first phase of
training in an afternoon graduation ceremony with their families.
Nolan O’Neal, chairman and managing director of ExxonMobil Upstream
Nigeria, was also present for the celebration and spoke about the company’s
commitment to help women fulfill their economic potential. “Research shows that
expanding economic opportunities for women is integral to global development
and broader economic progress,” he said. “Today less than 35 percent of women
in Nigeria have access to a bank account and many lack the capital needed to
grow their businesses. This initiative takes an important step toward
increasing financial literacy and access for women business owners.” 
For more information about the Road to Women’s Business Growth project,
please visit http://www.CherieBlairFoundation.org/road-to-growth-in-nigeria/
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