2025 IWD: Naira Rain as Okotete Splashes Over N15m Grants On Women Entrepreneurs in Calabar
Hannah ARIKPO
It was a Niara Rian of sorts as Executive Director, Business Development, NEXIM bank, Hon. Stella Okotete, has empowered over 20 women enterprenuers In Calabar with over N15m financial support.
The Executive Director, Business Development, NEXIM bank, Mrs. Stella Okotete, announced the grants to celebrate the 2025 International Women Day in a grand style.
The amount which ranges from Two hundred thousand to N1M was doled out to the Women beneficiaries according to the scope of their businesses.
The benefitting Women include about four retirees, the disabled among others were mostly into small scale businesses.
Addressing Women at the event organised by the Cross River state Microfinance and Enterprise Development Agency (MEDA) to mark International Women's Day, with the theme: "Invest in women, Accelerate Action" Hon. Okotete appreciated retirees and prayed for more government intervention and business growth.
The NEXIM Boss, observed that the theme of IWD 2025 calls for an urgent action to recognise the core potentials of women entrepreneurs by investing in their dreams and breaking down barriers that still stand on their way and drew attention to the fact that " an investment on a woman, not just empowers the individual but strengthens families, communities and the entire economies, enumerating major challenges facing business Women to include, financial handicap, lack of mentors, societal barriers among others.
According to her, women owned businesses are a driving force towards economic growth advising women to always strike a balance, "don't reinvest all your income into the family rather put some in the business because this is what will sustain the home, give our children a better secured future".
She discovered current trends have proven, women are no longer waiting for change but driving the change through the support of women owned businesses with funding as a way of investing in innovations, resilience and in the power of a woman to transform industries.
Okotete, who was a former National women leader of the APC, called for a synergy between the women chamber of commerce and the local governments to harmonise the revenue collection system so as to tackle the burden of over taxation on women entrepreneurs while commending government for enacting policies that enhances the business climate of the state.
Earlier, the Director General Cross River State Microfinance and Enterprise Development Agency (MEDA) Hon. Great Ogban Usetu, announced that the agency is currently operating a programme for all categories of persons called 'entrepreneurship at all levels' namely, retiree enterprise development programme, campus CEO for undergraduate students on campus as well as that of the secondary school students.
The Coordinator Women Neighbourhood Economic and Entrepreneurship Development (WO -NEED), Mrs Nissi Ibiang, said the programme was designed to lift women out of poverty by creating pathways to economic self-reliance, enhance their entrepreneurial capabilities by fostering growth of women owned businesses as well as strengthening the role of women as vital partners in the state's economic growth.
The Wife of the state Governor, Bishop, Dr. Eyoanwan Bassey Otu, was honoured by MEDA with the award of "Women's Enterprise Champion" in recognition of her tremendous support towards the enterprise ecosystem.
