Alitheia Capital Raises Concern Over Funding Gap Facing Women-Led Businesses
Many women-owned businesses in Nigeria may have the capacity to grow but continue to struggle to secure funding from formal financial institutions, Alitheia Capital has said.
The concern was raised during the third edition of the W.O.M.A.N. conference in Lagos, an initiative focused on businesses operating in manufacturing, agribusiness and nutrition.
More than 300 screened women-led businesses participated in the two-day programme, which brought together entrepreneurs, investors, financial institutions, government representatives and development partners to discuss access to capital, energy, technology and markets.
According to Alitheia Capital’s Managing Partner and Co-Founder, Tokunboh Ishmael, a large proportion of the participating businesses had demonstrated revenue generation, formalisation and growth potential but had yet to access formal financing.
Ishmael argued that the challenge was not necessarily a lack of ambition among the entrepreneurs but a mismatch between the financing structures available and the needs of women-led businesses.
She said Alitheia’s experience investing in businesses across Africa had demonstrated the commercial potential of providing appropriately structured capital to women-led enterprises.
Businesses Need More Than Funding
The conference also highlighted the importance of stronger financial management, corporate governance and operational systems in helping businesses attract investment.
Speaking at the event, WIMBIZ Co-Founder and CEO of DO.II Designs, Ifeyinwa Ighodalo, stressed that financial discipline and proper business records could improve an enterprise’s credibility with potential investors.
The Lagos State Government, represented by Commissioner for Agriculture and Food Systems Abisola Olusanya, also called for a coordinated approach involving government, banks, private equity firms, development organisations and business owners to address the funding challenge.
Focus on Investment Readiness
The W.O.M.A.N. programme is designed to help women-led enterprises become more prepared for investment through training in areas such as financial management, governance, capital structuring, energy efficiency and market access.
Participants were also exposed to artificial intelligence tools through a programme delivered in partnership with Google Hustle Academy, while Alitheia said selected businesses would receive continued support and progress tracking over a 12-month period.
The initiative reflects a broader effort to improve the ability of women-led enterprises to move from small-scale operations to sustainable and investment-ready businesses.
Alitheia Capital said the businesses involved in the programme would continue to be monitored for indicators including access to capital, revenue growth and the application of skills gained during the initiative.
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