DBN channels over N272bn to women-owned businesses, boosts female entrepreneurship

The Development Bank of Nigeria (DBN) has made significant strides in empowering women entrepreneurs, disbursing more than N272 billion to over 518,170 women-owned businesses.

The financial support accounts for 74% of the bank’s total beneficiaries, underscoring DBN’s commitment to empowering female entrepreneurs across the country.

Tony Okpanachi, DBN Managing Director who announced this on Thursday said that by supporting female-led enterprises across sectors such as fashion, agribusiness, and technology, the bank is further facilitating economic growth and development in Nigeria

Okpanachi spoke Abuja during the bank’s event to celebrate the 2025 International Women’s Day – the sixth in the series.

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He said this year’s celebration, under the theme “Accelerate Action,” is not just a call to recognize women’s invaluable contributions, but a time to move beyond dialogue and take deliberate, measurable, and bold steps to bridge the gender gap in entrepreneurship, finance, and leadership.

“Women at the heart of economic growth,” Okpanachi stated.

He said the bank does not just believe in women’s economic empowerment, “but funding, enabling and scaling it.”

Over the years, the bank has taken deliberate actions to ensure that more women-led businesses have access to financing and capacity-building programs.

The bank’s targeted financing has supported female entrepreneurs in diverse sectors, including fashion, agribusiness, technology, trade, healthcare, and renewable energy, ensuring they contribute meaningfully to the economy.

The MD said the bank has since moved beyound access to finance alone – which is not enough – to pushing them through strategic partnerships, policy support, mentorship, and market access to thrive in an increasingly competitive world.

One of the bank’s recent milestones is the Women Entrepreneurs Finance Initiative (WE-FI) Code, a landmark partnership with the Central Bank of Nigeria (CBN) and the Bank of Industry (BOI) aimed at enhancing women’s access to finance, capacity-building, and business networking.

According to him, this initiative underscores their commitment to creating a gender-inclusive financial ecosystem that enables women-owned businesses to thrive.

He noted that women entrepreneurs play a critical role in Nigeria’s economic transformation, in terms of driving innovation, resilience, and prosperity, powering over 21 different sectors of the economy.

Yet, female entrepreneurs face steeper challenges, including limited access to finance, structural barriers, and fewer growth opportunities.

Okpanachi emphasized that removing barriers and accelerating the success of women entrepreneurs will be crucial for driving an inclusive and thriving economy

According to him, action must be intentional, bold, and sustained in a collaborative manner, going forward.

He urged the government to accelerate policies that dismantle systemic barriers for women in business, ensuring that gender inclusion is embedded in national economic policies.

He emphasized that financiers and investors must reassess traditional risk evaluation methods and boost funding for women-led businesses across all stages of development.

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He encouraged the private sector to actively support and procure from female-owned businesses, ensuring that our supply chains reflect diversity and inclusion.

Assuring women entrepreneurs of DBN’s continued support, through financing, capacity-building, and advocacy, he urged them to think big, innovate boldly, and take their businesses to new heights.

“At DBN, we stand firm in our mission to catalyze economic growth by accelerating women’s success.

“We are not just funding businesses; we are shaping a future where women’s leadership, success and growth are the norm, not the exception,” he stated.