Alitheia Capital Forum Urges Closing Women’s Business Funding Gap

Alitheia Capital, a prominent organization in Nigeria, has called for a concerted effort to address the funding gap that has been hindering the growth of women-led businesses in the country. This plea was made during the third Annual W.O.M.A.N. conference, hosted by Alitheia Capital, which saw the participation of over 300 women-led businesses, investors, policymakers, and development partners.

The objective of the event was to discuss strategies for capital, energy, artificial intelligence, and market access to ensure business resilience.

The Managing Partner and Co-Founder of Alitheia Capital, Tokunboh Ishmael, highlighted that despite the ambition of many women-led businesses, they are largely excluded from financing. This exclusion is attributed to the design of existing financial systems, which does not cater to the unique needs of these businesses. Ishmael emphasized that these companies do not lack ambition but are hindered by the current capital structure.

The Lagos State Governor, Babajide Sanwo-Olu, echoed the sentiment, emphasizing that overcoming this financial barrier requires a collective effort from government, financial institutions, private equity, and entrepreneurs. The conference also featured a keynote address by Ifeyinwa Ighodalo, Co-Founder of WIMBIZ and Founder and CEO of DO.II Designs Limited.

Ighodalo urged participants to adopt financial discipline as a means to unlock investment opportunities. She emphasized that financial discipline can create business legibility, credibility, and ultimately, access to capital and growth opportunities. Co-Founder of Alitheia Capital, Jumoke Akinwunmi added that the businesses present at the conference, while demonstrating the right entrepreneurial readiness, face challenges that extend beyond their immediate operational capabilities.