By Iheanyi Nwachukwu
Copyright businessday
SheVentures, the women-banking initiative of First City Monument Bank (FCMB), has expanded its pool of interest-free loans for women-owned and women-led Small and Medium-Scale Enterprises (WSMEs) to N1 billion, up from N200 million.
Through SheVentures, women entrepreneurs in diverse sectors can access interest-free loans of up to N10 million for three months with a one-month moratorium. Beneficiaries will also participate in business management training and structured mentorship, providing financial and non-financial support for business growth.
Speaking on the development, Yemisi Edun, Managing Director of FCMB, said: “Women are at the forefront of enterprise in Nigeria, shaping industries and creating jobs. They often lack affordable access to finance and the structured support to grow. By expanding the SheVentures loan pool from N200 million to N1 billion, we are scaling a model that combines zero-interest finance with training and mentorship. This is how we move from individual success stories to broader economic transformation. We are committed to building platforms that enable women-owned businesses to thrive and strengthen Nigeria’s growth story.”
With this expanded commitment, FCMB is increasing its support for women entrepreneurs and reinforcing its role In advancing inclusive economic participation.
George Ogbonnaya, Divisional Head of SME Banking at FCMB, added: “SheVentures has shown that when women entrepreneurs are given the right tools, finance, skills, and networks, they build resilient businesses. More than 300 women have already benefited, and their progress confirms that targeted interventions work. With this N1 billion commitment, we are moving to the next phase: widening access and deepening impact.”
Also commenting, Nnenna Jacob-Ogogo, Group Head, SheVentures said: “Through SheVentures, women entrepreneurs in diverse sectors can access interest-free loans of up to N5 million for 4 months with a 1-month moratorium, and up to N10 million for 6 months with a one-month moratorium. Beneficiaries will also participate in business management training and structured mentorship, providing financial and non-financial support for business growth.”
Since its launch in 2019, SheVentures has provided zero-interest loans and capacity-building support to women-owned SMEs across Nigeria. The initiative combines finance, training, and mentorship to enable women entrepreneurs to strengthen their enterprises and contribute to economic growth.
