As Nigerian women continue to break glass ceilings and shatter barriers in various fields, it’s time to take their success to the next level.
Beyond the achievements and accolades, lies a more enduring legacy – transgenerational wealth. Building wealth that can be passed down to future generations is a key aspect of long-term success, and Nigerian women are uniquely positioned to unlock this potential.
With their natural entrepreneurial spirit, resilience, and determination, Nigerian women can create a lasting impact on their families, communities, and the nation at large. Women are often the pillars of their families and communities, yet when it comes to building wealth, they often put others’ needs before their own.
However, creating transgenerational wealth requires a shift in mindset and a commitment to financial literacy. This is a pointer to the fact that it’s time for women to take control of their financial futures, not just about accumulating wealth; it’s about creating a legacy that benefits future generations.
Transgenerational wealth refers to the wealth that is passed down from one generation to the next. Building this type of wealth requires a long-term perspective, strategic planning, and a commitment to financial literacy.
“Transgenerational wealth means that you are leaving a tangible asset and building the children as well; who will manage the asset and multiply it. We have seen a lot of our men who have done this, but women have not really matched up to leaving transgenerational wealth for their children,” said Bisi Akintayo, CEO, GText Suites and convener, The Winning Woman.
Speaking during the maiden edition of the conference that aimed to influence women towards leaving a legacy behind, Akintayo said that the current socio-economic and financial challenges in the country should not stop women from building their legacy.
“Everything is about priority; if you prioritise your food, fashion or make-up that becomes what you spend more money and time on. So, there is nothing we cannot prioritise,” she said.
She said further that she was influenced with the fact that women can build wealth for themselves without having to wait on a man. According to her, women can leverage their support system by surrounding themselves with people far ahead of them as mentors.
“I want more women to be able to stand up, and not see it as a means of saying I am doing better than my husband: it’s not a way to say that you are better than your spouse, it’s just a way to make you a contributor and a financial supporter of the home as well. And, make your children and generation to come never to forget who you are and your name as well,” Akintayo said.
She said further that women must find their purpose and must be open to learning. According to her, women must be visible online and learn to build their personal brand as they build their business. “If people cannot tell you; I need you; don’t be shameful of what is gainful,” she said.
Akintayo also disclosed that the theme was intentionally drafted to make women understand the need to win as an individual, hence the term ‘winning woman’. According to her, every woman can win in any sector of the economy and that women should recognise their say and seat in the scheme of things.
“Yes, people now know that we have a say but a lot of us have not claimed the seat and I will not stop until everyone of us gets more seats. Now, we are not trying to say that we are equal to the men, we are just trying to support our men, because a woman that can build a home can build a state, can build a country,” Akintayo said.
She disclosed further that women can build wealth and should not wait for life to happen before taking the initiative. Accordingly, she said further that women should know themselves to become a winning woman.
“Have your dreams and your goals; pursue them to a logical conclusion,” said Helen Ekwueme, wife of the first vice president, the late Alex Ekwueme. Furthermore, she highlighted the importance of building transgenerational wealth, and positioning Nigerian women as key players in achieving this goal.
Accordingly, she urged Nigerian women to change the narrative by learning new things and utilising their support system. “They said we women are our own worst enemy; let’s change the narrative. We are not our own worst enemy.”
Ekwueme said further that women can build transgenerational wealth, creating a lasting legacy that benefits not only themselves but also their families and communities. “It’s time for women to take control of their financial futures and become the winning women they were meant to be,” she said.
Adeshola Helen Onadipo, president, African-Arab Women Chamber of Commerce, said that women must learn to separate themselves from the usual. According to her, women should build their confidence and must be comfortable in whatever they do. “Please don’t forget, everyone is taken; you have to be yourself.”
Onadipo, who is also the founder of Ladies in Business Magazine Global and initiator of SHE Global Awards, said further that in becoming a winning woman, women must start with financial literacy by understanding basic financial concepts such as investing, compound interest, and tax planning that is crucial to building wealth.
She also urged the women to avoid overspending and prioritise saving and investing, especially investing in assets that generate passive income, such as real estate or dividend-paying stocks. According to her, women must learn to build multiple streams of income to reduce their financial risk.
Sharing from her personal experience from the financial sector, Onadipo advises women to develop a long-term perspective, focusing on sustainable wealth creation rather than quick fixes by leveraging tax-advantaged accounts such as retirement accounts.
She also urged the women to prioritise education and personal development to boost their earning potential, and build a support network of like-minded women who share similar financial goals.
According to her, women must stay disciplined and patient, avoiding get-rich-quick schemes and staying focused on their long-term objectives, and give back to their community, using their wealth to make a positive impact on the world.
