FCMB Scales Up SheVentures Loan Pool to N1bn to Empower Women Entrepreneurs

First City Monument Bank (FCMB) has expanded its SheVentures loan pool to N1 billion, reaffirming its commitment to supporting women entrepreneurs across Nigeria and promoting gender-inclusive growth. The initiative, designed to provide financial and business support to women-owned small and medium-sized enterprises (SMEs), marks a significant boost for female entrepreneurs who often struggle with limited access to funding and growth opportunities in the country’s competitive business landscape.

Announcing the expansion, FCMB management explained that the increase from its previous funding pool underscores the bank’s recognition of women as crucial drivers of economic development. The SheVentures programme offers zero-interest loans, capacity-building training, and advisory services to help women-owned businesses scale up and thrive despite prevailing challenges in the economy. By enlarging the pool to N1 billion, more women across different sectors, including agriculture, fashion, retail, health, and technology, will be able to access the much-needed financing to sustain and expand their operations.

Industry experts have hailed this development as timely, especially as many SMEs continue to grapple with rising inflation, high interest rates, and foreign exchange volatility. For many women entrepreneurs, the burden of expensive credit from commercial lenders has often limited their ability to reinvest profits or pursue expansion opportunities. By offering zero-interest loans through SheVentures, FCMB is bridging a critical financing gap and enabling more sustainable growth for women-led businesses.

The SheVentures initiative, which has been running for several years, has already supported thousands of women in different industries. According to FCMB, beneficiaries have not only accessed funding but also received mentorship, networking opportunities, and digital skills training to navigate the evolving business environment. With the latest expansion, the bank expects the number of beneficiaries to rise significantly, creating ripple effects across local communities and the broader economy.

FCMB’s Managing Director, Yemisi Edun, emphasized that empowering women entrepreneurs is central to the bank’s sustainability strategy and aligns with the federal government’s broader vision of strengthening the SME sector. She noted that studies consistently show that women reinvest more of their earnings into their families and communities, amplifying the social and economic impact of any investment made in their enterprises. She added that expanding the loan pool was a direct response to increasing demand for the programme and the bank’s long-term vision to make SheVentures one of the largest female-focused empowerment platforms in Nigeria.

The expansion also comes at a time when Nigeria’s business climate is undergoing major reforms. The Central Bank of Nigeria’s recent monetary policy adjustments and government efforts to stimulate non-oil growth have created both opportunities and hurdles for SMEs. For women entrepreneurs, navigating this uncertain environment has been even more challenging due to systemic barriers such as limited collateral, weaker networks, and gender bias in traditional lending systems. FCMB’s intervention through SheVentures provides an accessible and inclusive pathway to overcome these hurdles.

Stakeholders in the SME space, including the Lagos Chamber of Commerce and Industry (LCCI) and the Association of Nigerian Women Business Network, have praised the initiative, describing it as a practical example of how financial institutions can support inclusive economic growth. They argued that replicating similar programmes across the banking industry could significantly transform Nigeria’s SME ecosystem and help reduce unemployment, particularly among women and youth.

Beneficiaries of previous SheVentures cycles have shared success stories of how access to zero-interest loans helped them expand production, hire additional staff, and break into new markets. Some have even transitioned from micro-businesses to small-scale enterprises, further validating the impact of the programme. With the new N1 billion loan pool, more of such stories are expected to emerge, especially from sectors that are traditionally underfunded, such as agribusiness and creative industries.

Economic analysts also note that beyond financial empowerment, initiatives like SheVentures play a critical role in addressing inequality and bridging the gender gap in Nigeria’s workforce. By creating avenues for women to access capital and business support, the programme is not only boosting entrepreneurship but also laying the foundation for more inclusive national development. This, they argue, aligns with Nigeria’s commitments under the Sustainable Development Goals (SDGs), particularly Goal 5 on gender equality and Goal 8 on decent work and economic growth.

The programme is also expected to foster innovation, as many women entrepreneurs are breaking new ground in digital technology, healthcare delivery, and education. With access to affordable financing, these innovators will be able to expand their solutions, scale their operations, and contribute meaningfully to Nigeria’s digital economy. FCMB has indicated that SheVentures will increasingly prioritize women-led businesses that integrate technology and sustainability into their models, in line with global business trends.

Observers believe that FCMB’s bold step will push competitors in the banking industry to adopt similar interventions or expand their existing SME support schemes. In a competitive banking sector, gender-focused programmes are becoming a major differentiator for institutions looking to deepen their market relevance while fulfilling corporate social responsibility.

As Nigeria continues to push toward diversifying its economy and reducing dependence on oil, the role of SMEs — and particularly women-led enterprises — cannot be overstated. With the SheVentures loan pool now scaled up to N1 billion, FCMB has once again positioned itself as a catalyst for this transformation. The initiative not only empowers women but also contributes to building a stronger SME ecosystem capable of driving inclusive growth.

In the coming months, the bank is expected to roll out new phases of the programme, with broader geographic coverage to ensure that women entrepreneurs in rural and semi-urban areas can also access the funds. This nationwide spread will help bridge urban-rural disparities in business opportunities and ensure that the benefits of the programme are widely felt.

At a time when many Nigerian businesses are struggling to stay afloat, FCMB’s expansion of SheVentures offers hope and reinforces the idea that deliberate, inclusive financial interventions can unlock the potential of women entrepreneurs and accelerate the country’s economic transformation.