The Economic Community of West African States (ECOWAS) in collaboration with ECOBANK Plc on Tuesday in Abuja unveiled a 6-month training programme for the empowerment of West African women traders.
The News Agency of Nigeria (NAN) reports that the programme seeks to empower women-led businesses by supporting and enhancing their growth, leveraging the African Continental Free Trade Area’s (AfCFTA) takeoff.
ECOWAS Commission President, Dr Omar Touray, while unveiling the programme, expressed the commission’s gratitude to Nigeria for its relentless contributions to the bloc’s regional integration agenda.
Touray, represented by Mrs Massandjé Toure-Litse, ECOWAS Commissioner for Economic Affairs and Agriculture, also appreciated ECOBANK for partnering with ECOWAS to build the capacity of women traders to leverage market opportunities.
“Today marks an important milestone in our commitment to empowering women in trade, addressing financial literacy needs, and advancing economic inclusion.
“According to the World Bank, Micro, Small, and Medium Enterprises (MSMEs) constitute approximately 90 per cent of all businesses globally and contribute over 50 per cent of total employment.
“In ECOWAS, MSMEs make up a significant portion of our economy, with women leading many of these businesses, especially in Small Scale Cross-Border Trade (SSCBT).
“However, women-led businesses continue to face persistent challenges in accessing finance and expanding into new markets,” Toure-Litse said.
The commissioner said that ECOWAS was committed to addressing the prevailing challenges and championing women’s economic inclusivity through strategic interventions within the framework of the ECOWAS Vision 2050.
She said that it was against the backdrop of the vital role of women in economic activities within the subregion that the commission had embarked on some critical initiatives aimed at empowering women.
Toure-Litse listed the initiatives to include the ECOWAS Trade and Gender Action Plan; the ECOWAS Regional Strategy for Implementing AfCFTA; and ECOWAS E-Commerce strategy, among others.
She said the commission also recently embarked on training programmes for SSCBT by empowering over 800 informal traders, more than 70 per cent of whom were women.
“The ECOWAS–Ecobank empowerment programme for Women Traders responds to recent recommendations from the Regional Trade and Gender meeting, calling for more robust training for women traders.
“By equipping women entrepreneurs with financial knowledge, facilitating access to credit, and developing business skills, we are paving the way for these businesses to scale and expand across borders.
“This programme offers participants training, mentorship, and networking opportunities along with financing options designed to facilitate access to credit for women,” she said.
The commissioner explained that through such initiatives, ECOWAS anticipated a transformative impact on the businesses of women entrepreneurs, enabling them to unlock greater potential, and access larger markets.
She said the pilot programme which would begin with Nigerian women beneficiaries, would later be replicated across other ECOWAS member states to reach about 800 women.
“To all the women traders here today, I encourage you to seize this opportunity to equip yourselves with the tools necessary to scale your businesses and engage in regional trade and beyond.
“When women thrive, communities prosper, and our economy becomes stronger,” she added.
Speaking earlier, Mr Tunde Dawodu, ECOBANK Divisional Head, FCT and the North, said the bank was committed to supporting women entrepreneurs through its flagship ELLEVATE Programme and Single Market Trade Hub.
Dawodu said the programme aimed to offer financing, mentorship and digital tools that would enable women to thrive in competitive markets, scale their businesses and enhance their access to regional markets.
ECOWAS Director of Trade, Mr Kolawole Sofola, explained that the programme aimed at equipping the beneficiaries to scale their businesses, create jobs, and helping them to engage meaningfully in trade.
Mr Tony Elumelu, ECOWAS Director of Investment, said the programme aimed at implementing the commission’s multifaceted initiatives aimed at women empowerment leveraging the recent takeoff of AfCFTA.
Ms Nonye Ayeni of the Nigerian Export Promotion Council, said capacity-building, especially in good agricultural practices, packaging and export documentation were “crucial to helping women traders build sustainable businesses and access new markets.”
Representatives from the Nigerian Export-Import Bank and the Nigeria Customs Service, who provided insights into the programme’s funding facilitation and export procedures, offered participants practical tools to efficiently navigate cross-border trade.
NAN reports that participants will receive mentorship, training, and financial support after the programme, in line with ECOWAS’s Vision 2050 strategy to promote inclusive subregional growth and sustainable development.(NAN)
