The African Development Bank (AfDB) has committed $750,000 to support women-owned businesses in Nigeria, with 610 Lagos-based enterprises expected to benefit from one of the funding partnerships. However, the money is not a direct cash grant to individual entrepreneurs.
Women entrepreneurs in Nigeria have a new opportunity to strengthen their businesses following the African Development Bank’s announcement of a $750,000 funding initiative.
The three-year programme will support women-owned and women-led businesses through business development services, financial literacy training, mentorship and improved access to markets and financing.
According to the African Development Bank, the funding will go to three Nigerian organisations: the Lagos State Employment Trust Fund (LSETF), Pan African Women Empowerment Network (PAWEN) and ImpactHER Foundation.
Each organisation will receive $250,000 to implement programmes targeting women entrepreneurs.
For business owners in Lagos, the LSETF partnership is particularly significant because it will support 610 women-led businesses across the state.
How will the $750,000 grant be shared?
The funding is part of AfDB’s Affirmative Finance Action for Women in Africa (AFAWA) initiative.
The bank is implementing the intervention through the second cohort of its Women Entrepreneurship Enablers Project.
The $750,000 commitment will be distributed equally among the three participating organisations.
LSETF will receive $250,000 to support 610 women-led businesses. PAWEN and ImpactHER will each receive the same amount to implement their respective programmes.
The initiative is expected to improve the competitiveness and sustainability of participating businesses over three years.
What will the 610 Lagos businesses receive?
The LSETF programme will focus on strengthening the businesses through different forms of support.
These include:
- Business development: Training to improve business planning, operations and expansion strategies.
- Financial literacy: Guidance on budgeting, financial management and accessing financial services.
- Business formalisation: Assistance to strengthen business structures and meet formal operating requirements.
- Mentorship: Advisory support to help entrepreneurs address business challenges.
- Market access: Opportunities to build business connections and explore financing opportunities.
The support is intended to help participating businesses improve their operations and become better positioned to attract investment.
Who qualifies for the AfDB grant?
The initiative targets women-owned and women-led enterprises.
For the Lagos component, LSETF is expected to support 610 businesses.
However, AfDB has not published a comprehensive eligibility checklist specifying minimum business turnover, years of operation, registration requirements or priority sectors.
Women entrepreneurs should therefore wait for the implementing organisations to release detailed selection requirements.
The other two organisations will also run separate interventions under their respective allocations.
Will beneficiaries receive direct cash payments?
This is an important distinction for entrepreneurs interested in the programme.
Although AfDB has committed $750,000, the money is not being shared directly among 610 individual business owners.
Instead, the grant will finance programmes delivered through the three implementing organisations.
The announcement does not specify fixed cash payments for individual beneficiaries.
Entrepreneurs should therefore be cautious of individuals promising guaranteed payments or requesting registration fees in exchange for access to the funding.
How can women entrepreneurs apply?
As of November 9, 2026, AfDB has not announced a dedicated application portal, closing date or detailed selection procedure for the 610 Lagos businesses.
Interested entrepreneurs should monitor the official communication channels of the Lagos State Employment Trust Fund for further announcements.
Women entrepreneurs outside Lagos can also follow PAWEN and ImpactHER for information about their respective programmes.
The announcement represents an opportunity to strengthen women-led businesses, but the actual benefits will depend on the implementation of the programme and the selection of eligible enterprises.