NCGC Targets ₦100bn in Credit to Close Gender Gaps in Access to Finance
11,374 Women accounted for the beneficiaries of credit mobilised by the National Credit Guarantee Company (NCGC) in its first year, highlighting the persistent gender gap in access to formal financing
The National Credit Guarantee Company (NCGC) aimed to close gender gaps in access to finance by targeting more than ₦100 billion in credit for female-led businesses. In its first year, the company mobilized credit for 11,374 women, with 67,512 end-borrowers being women-owned businesses. The NCGC provided ₦21.59 billion in risk cover through 19 financial institutions, unlocking ₦46.95 billion in direct loans across 25 states and the Federal Capital Territory.
This credit reached 25 states and the Federal Capital Territory. Ninety-three percent of the beneficiaries were women. Through the launch of GuaranteeHer, a specialized credit guarantee framework, NCGC aims to unlock more than ₦100 billion in credit for women-owned businesses over five years.
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