Alitheia Capital backs financing for women-led businesses

Alitheia Capital, in collaboration with 300 women-led businesses across manufacturing, agribusiness, and nutrition sectors, has advocated for customized financing solutions. During the third W.O.M.A.N. conference in Lagos, which convened entrepreneurs, investors, policymakers, and development partners, the focus was on addressing barriers to capital, energy, technology, and markets for women-led businesses.

The event, themed 'Scaling Women-Led Manufacturing, Agribusiness & Nutrition MSMEs: Providing Pathways to Capital, Energy, AI and Markets for Business Resilience,' aimed to transition these enterprises from survival to sustainable growth. Babajide Sanwo-Olu, Lagos State Commissioner for Agriculture and Food Systems, highlighted the ongoing challenge women-led businesses face in accessing appropriate finance and growth capital.

Financial institutions, private equity, venture capital, and development partners were urged to play their part. Ighodalo emphasized that financial discipline could determine whether businesses secured capital and growth opportunities, as it creates business legibility and credibility. Alitheia Capital’s investment-readiness programme prepared entrepreneurs for financial statements, unit economics, governance, and capital structuring.

Jumoke Akinwunmi, co-founder of Alitheia Capital, noted that the major obstacle was the inability of the broader business ecosystem to provide suitable financing, despite women-led businesses demonstrating readiness. The conference also addressed AI adoption, with a session led by Google Hustle Academy to help entrepreneurs integrate AI into their business operations and marketing.

Over 300 screened, revenue-generating businesses participated, all meeting revenue thresholds, formalisation standards, and growth potential criteria, but none had accessed formal capital. Alitheia Capital plans to monitor these businesses for 12 months, tracking their access to capital, revenue growth, and the application of conference-acquired skills.