The Ooni of Ife, Oba Adeyeye Ogunwusi, in collaboration with the Small and Medium Enterprise Development Agency of Nigeria (SMEDAN), has inaugurated a N1 billion fund aimed at supporting women-owned micro businesses. This initiative, named Women-Owned Micro Businesses (WOMB), honors Madam Abibatu Mogaji Tinubu, the mother of the Nigerian president.
The WOMB initiative is designed to provide financial support, training, mentorship, and market access to female entrepreneurs across Nigeria. This project aligns with the vision of the Ooni of Ife to uplift individuals from “grass to grace.”
The fund was launched during the 2024 4th Royal African Young Leadership Forum (RAYLF) held at the Oduduwa Hall, Obafemi Awolowo University (OAU), Ile-Ife. The event also saw the recognition of 100 African youths who have excelled in their respective fields.
Speaking on the theme “African of the future: Better together,” the Ooni emphasized his dedication to fostering young African leaders who can drive the continent’s future by tackling its critical challenges. He highlighted the importance of collective efforts for the betterment of Africa.
SMEDAN’s Director General, Charles Odii, underscored the significance of the partnership with RAYLF to formalize and launch the WOMB project. He noted that SMEDAN has committed N1 billion to support this initiative, aiming to enhance the capacity of female entrepreneurs through various support programs.
Comprehensive Support for Women Entrepreneurs
The WOMB project will offer comprehensive training, funding, mentorship, and access to local, regional, and global markets. This initiative aims to empower women entrepreneurs, ensuring the successful implementation and sustainability of their businesses.
The collaboration between the Ooni of Ife and SMEDAN marks a significant step towards empowering women entrepreneurs in Nigeria.
