We-Fi supported entrepreneurs in Nigeria share their success stories
Oluwatosin Olaseinde, Yetunde Adeyemi, and Olayinka Dosunmu are living proof of the positive impact that financial and mentoring support can have on women entrepreneurs in developing countries. The three businesswomen from Lagos, Nigeria have shared their journey with the help of We-Fi and implementing partners.
One of the main constraints faced as a woman entrepreneur in Nigeria is funding. Oluwatosin Olaseinde, Founder & CEO of Ladda, was a beneficiary through the IFC-Seedstars Startup Program. Ladda represented Africa to compete for a $500k seed investment. Her company has been able to attract more investment and create opportunities for growth.
Olayinka Dosunmu, Founder of Forcefield Furnishing & Finishing was a beneficiary of the World Bank Digital Cashflow Loan Program. With the help of the program, she was able to improve her business’ infrastructure, which provided her with more control over her business and more investment opportunities. She was able to acquire her own machinery and start operating in-house.
Yetunde Adeyemi, Founder of Active Foods Limited, benefited through Access Bank’s Digital Cashflow Loan Program, supported by the World Bank’s We-Fi project. Yetunde started her business with only seven staff; today, over 250 Nigerian youths are employed by her thriving company. With the funding and mentoring provided, she was able to expand production capacity and create employment opportunities.
“Fund women, give them the resources in order for them to get where they need to be”, says Oluwatosin Olaseinde. As women face overlapping challenges from Covid-19, conflict, climate change, and the burden of unpaid care, more resources are needed to support women entrepreneurs and bridge the financing gaps they face. To learn more about We-Fi’s impact stories and the multiplier effect of investing in women, read our Annual Report and the Case for Investing in Women Entrepreneurs.