In the bustling district of Ikoyi, Lagos, a gathering of minds took place to address an issue of profound importance: financial inclusion for women and vulnerable groups in Nigeria. Spearheaded by industry leaders and financial experts, the PiggyVest Finance Roundtable explored challenges and opportunities in the ever-evolving landscape of Nigeria’s economy.
Shaping the Conversation
Setting the stage for a thought-provoking discussion, Odunayo Eweniyi, Co-Founder and COO of PiggyVest, posed a critical question: Is the looming inflation driving people to entrepreneurship in Nigeria? This inquiry laid the groundwork for a deeper exploration of the motivations and hurdles faced by business owners in a fluctuating economic environment.
Unveiling Gender Disparities
One of the riveting revelations from the event was the insight that more women are stepping up to open businesses than their male counterparts, despite facing greater economic barriers. A poignant finding from the PiggyVest Savings Report revealed that men are 1.4 times more likely than women to earn a monthly income of ₦1,000,000. Industry leaders, like Ibiyinka Ibru, emphasized the role of flexibility in workforce exclusion driving women toward self-employment, primarily for survival rather than scaling.
Tackling Educational Gaps
Moderator Ngozi Chukwu heard compelling arguments from experts like Yewande Akomolafe-Kalu and Layo Ogunbawo about the pressing need for targeted financial education for women. The intricate balance of managing personal and business finances often leaves women at a disadvantage when seeking loans. Akomolafe-Kalu stressed the importance of recognizing these nuances to provide genuine support.
The Role of Society
The discourse highlighted broader societal responsibilities. Bukky Akomolafe pointed out how personal life choices—such as marriage and parenthood—affect women’s career trajectories significantly. Ogunbawo, of Splice, called upon society and organizations to advocate for inclusive HR policies that bolster women’s opportunities in the workforce.
Educational Initiatives and Participation
With an emphasis on digital inclusivity, the discussion veered toward community outreach and skill-building opportunities geared expressly for women. Akomolafe-Kalu noted that aligning solutions with real-life women’s experiences are feasible only if women themselves are integral to the decision-making processes in companies.
A Source of Hope and Knowledge
Concluding the event, Joshua Chibueze from Piggyvest reflected on the consistency of their findings, highlighting the report’s growing reliability for economic decision-making. As stated in The Nation Newspaper, the PiggyVest Savings Report could become a reference point not only for businesses but for researchers and government planning as well, illustrating a dynamic economic tapestry woven with diverse narratives from Nigerians across the spectrum.
The dialogue echoed the call to action for enhanced women’s roles in shaping financial futures, urging collective effort toward breaking barriers and empowering women financially in Nigeria’s challenging economic terrain.
