Katsina State Government Allocates 500 Million to Support Womenpreneu

• The Katsina State Government sets aside ₦500 million to support women entrepreneurs
• The aim is to develop local businesses and empower women
• Governor Dikko Umar Radda presented the funding to improve small businesses

Katsina State's government has dedicated ₦500 million to help benefit female entrepreneurs throughout the state to create more opportunities for local businesses, provide more market access, and help lift women so they can be significant contributors to economic growth.

According to the governor, Dikko Umar Radda, this funding represents one aspect of a larger set of efforts to enhance the small business system in Katsina State and eliminate barriers faced by female business owners in obtaining capital.

These funds will be distributed according to clear guidelines that will provide equal and fair access for women-owned micro, small, and medium enterprise (MSME) businesses.

“Through this funding, we are empowering our women to create jobs and develop economic growth and prosperity in Katsina State. The economic impact created by women in business is huge, and with proper support, they can create significant changes in communities,” said Gov. Dikko.

The ₦500 million women’s entrepreneurship fund has been established to meet the following objectives like access to capital, business expansion, and capacity building

The program will be implemented through the state agencies with the help of private sector partners to ensure that clients are not only given money but also given advice and introduced to places they can sell their products which will help them with their future business.

Katsina officials stated that this initiative exemplifies Katsina's support for inclusive economic growth, particularly for those groups that have historically been underrepresented in formal lending for businesses.

This initiative will provide women entrepreneurs with the opportunity to receive funding, particularly those who work in agriculture, food processing, fashion and retail, based on established criteria that will prioritize business impact and sustainable business practices.

The fund also aims to provide assistance to entrepreneurs who are women, particularly given the large number of women-led businesses in many African countries that face higher interest rates than men and thus have difficulties obtaining loans due to a lack of possible collateral.

According to analysts, initiatives such as these can help create jobs, promote innovation, and stimulate local economies if they are part of a comprehensive state and national development strategy.