WTO & ITC Pick 146 Nigerian Women for First Phase of $50M Digital Economy Fund

• 146 Nigerian female entrepreneurs chosen for the initial stage of the $50 million WEIDE Fund
• Initiative launched by World Trade Organisation (WTO) in collaboration with International Trade Centre (ITC)
• Fund seeks to give women-owned micro, small, and medium-sized enterprises (MSMEs) a boost

146 female entrepreneurs from Nigeria were selected to benefit from the first phase of the $50 million Women's Exports Fund in Digital Economy (Weide), established by the World Trade Organization (WTO) and funded by the International Trade Center (ITC). 

The objective of the initiative is to empower micro ownership of women, small and medium -sized companies, increasing access to finance, technical support and entry into global markets.

In the first phase, 16 entrepreneurs in what is called "Booster Strip" receive financing of $30,000 and 18 months of technical assistance. More than 130 women will receive $5,000 and receive structured business guidance throughout the year.

Delivering the keynote speech during the launch in Abuja, First Lady Senator Oluremi Tinubu, who was represented by Hajiya Nana Shettima, wife of the Vice President, praised the programme, saying that it supports the Renewed Hope Agenda of President Bola Tinubu by helping to diversify the economy and empowering women business leaders.

The WEIDE Fund is anticipated to solve some of the major challenges of women-owned businesses, such as limited access to funds, poor digital infrastructure, and poor global market connectivity.