Businesses that are set up by women could create 8.9 million jobs and unlock N19.7 billion for the Nigerian economy over the next five years (by 2022), according to a new research released by Facebook.
The report also revealed that 12 percent of women within the ages of 25 and 34 will employ 1 to 10 employees in the next five years.
Facebook announced the report findings carried out on its behalf by a firm called Development Economics, at the launch of #SheMeansBusiness in Lagos, Nigeria on Tuesday, 27, March 2018. The launch was part of the company’s efforts to celebrate the role of women in driving the economy in Nigeria, coinciding with the International Women’s Day commemoration.
Abi Williams, SMB Sales Manager, Facebook said the goal of the initiative #SheMeansBusiness is to help train many more women who are already in business and those hoping to start one someday.
“Women are constantly pushing boundaries, whether they are working for themselves or for others,” Williams said. “When you put a group of women in a room, they start to connect. Many women are just natural entrepreneurs.”
Facebook also announced its partnership with She Leads Africa to ensure the success of #SheMeansBusiness. The launch of the initiative in Nigeria is the first in sub-Saharan Africa and it brings together thousands of female entrepreneurs in a series of day workshops and training sessions across six cities across the country. The cities include Lagos, Kaduna, Port Harcourt, Ibadan, Abuja and Aba.
Applications opened on 27 March, 2018 at sheleadsafrica.org/shemeansbusiness. Training sessions will be followed by post-training clinics aimed at re-engaging, advising and mentoring participants.
Abi Williams noted that the involvement of women in the Nigeria economy has seen their businesses grow significantly. For instance, the number of businesses owned by women on Facebook has grown by 319 percent.
“We know that when women do better, economies do better,” Ebele Okobi, Facebook Public Policy director, Africa said. “The study conducted by Development Economics further highlights this, with research suggesting that an estimated 7 million new businesses could be set up by women in Nigeria by 2021 – placing a greater importance on the role of women’s entrepreneurial ambitions for overall economic and social development in the country.”
Commenting on the partnership and trainings Afua Osei, Co-Founder of She Leads Africa added “We’re excited to continue our partnership with Facebook to expand access to the digital skills necessary to move African businesses forward. We know that with the right tools and support, African women can compete on a global level and we look forward to taking these critical digital tools to entrepreneurs all across Nigeria.”
