Women entrepreneurs require more than just financial grants to establish and sustain their businesses, according to the Woven Impact Network. The organization emphasizes that management skills, informed decision-making, and access to growth opportunities are crucial for the long-term viability of enterprises.
Woven Impact Network highlighted these needs at the recent graduation of its second Women WIN Business Excellence (WWBE) Programme cohort. Nineteen women entrepreneurs completed the three-month business development program. During the ceremony, five outstanding participants and other awardees received grants totaling N1.5 million.
The WWBE Programme combines financial aid with business education. This approach aims to equip entrepreneurs with the knowledge necessary for better decision-making, operational strengthening, and pursuing sustainable growth. Hakeem Subair, chairman of Woven Impact Network’s board, congratulated the graduates. He noted that while grants are valuable, sustainable business growth necessitates additional capabilities.
The program selected 25 women from over 150 applications across 10 Nigerian states. Participants represented diverse sectors, including food and agriculture, manufacturing, and fashion. Over three months, they engaged in a structured learning and development curriculum designed to enhance their business acumen, improve decision-making, and prepare their businesses for enduring expansion.
Developing Business Capabilities Beyond Funding
Olasubomi Sofowora, founder of Woven Impact Network, stated that the program’s design helps women entrepreneurs build businesses with increased confidence. It also aids them in making informed decisions and accessing opportunities that can strengthen their enterprises. Sofowora explained that the WWBE program is not solely about teaching business operations. It focuses on creating pathways for women to build with greater confidence, access opportunities, and recognize their contributions to economic and community development.
The organization’s goal is to support women in building resilient and sustainable businesses capable of generating lasting economic and social value. Sofowora’s remarks underscore the program’s dedication to developing business capabilities alongside financial support. This approach contrasts with relying on grants as the sole method for fostering the growth of women-owned enterprises. This initiative aligns with discussions around how to best support women entrepreneurs, as noted by Patrice Onwuka, who has spoken on how new bank charters could potentially help women entrepreneurs.
Dr. Mariam Temitope Masha, senior special assistant to the president on regional development programs, delivered the keynote address. She urged the entrepreneurs to acknowledge the broader economic and social impact of their businesses. Dr. Masha encouraged them to remain visible, actively pursue opportunities, and leverage available programs and support systems. She also advised them to view the training completion as the start of a new phase for applying their knowledge, building relationships, and seeking growth opportunities.
Dr. Masha emphasized the national representation of the entrepreneurs. “You represent Nigeria. It’s not just about you as an individual woman, but the faces and stories behind the impact and the lives you’re touching. You’re growing a community, you’re growing a state, you’re growing the country, and you’re all winners,” she said.
The program’s conclusion coincides with the ongoing significant roles of women entrepreneurs in sectors like food production, manufacturing, and fashion. Business expansion in these areas can generate employment, income, and local economic activity. However, the announcement did not provide specific figures on the businesses’ revenues, employment levels, or growth metrics before and after the program. The exact distribution of the N1.5 million in grants among the recipients was also not disclosed.
The long-term impact of the program on business performance will depend on how participants apply their training, utilize the grants, and translate this support into sustained commercial growth. Beyond the WWBE Programme, Woven Impact Network engages in initiatives focused on women and youth empowerment, skills development, resilience, sustainable livelihoods, and access to opportunities. The organization stated that its programs and grassroots interventions have reached over 500 individuals, including communities in Makoko, Lagos, and an internally displaced persons camp in Abuja. As it approaches its fifth anniversary in 2027, Woven Impact Network remains committed to addressing developmental challenges by equipping individuals and communities with the knowledge, resources, and opportunities needed to build sustainable futures.
The Woven Impact Network’s approach highlights a growing understanding that while financial resources are essential, comprehensive support systems and capacity building are equally vital for women entrepreneurs to thrive. This comprehensive strategy is echoed in efforts like the SWIM Women’s Entrepreneur Success Club, which guides women entrepreneurs on capital strategy, and initiatives like the WeRise Network, which has trained thousands of women and youth entrepreneurs in Ghana.
