Nigeria’s Women’s Investment Fund
Nigeria’s first gender specific N2.5 billion (€16,5 million) mutual fund has been introduced to the market. Mobolaji Balogun, group chief executive officer stated, “Women are a vital force underpinning the growth of our nation, but the investment markets currently have limited offerings which cater to their special entrepreneurial promise or their unique investment preferences. With the Women’s Investment Fund (WIF), we believe we have bridged this gap somewhat by addressing female investors and entrepreneurs alike. We are genuinely excited by the transformational potential of the Women’s Investment Fund, and are grateful for all the support we have already received from across the country.” Businesses owned by women are one of the fastest growing segments of the economy and range across all sectors including manufacturing, services, real estate, hospitality, education and energy. Explaining the rationale for the fund, Kemi Adeosun, a director of WIF stated, “For a number of years we have been hosting seminars for women as investors and teaching them how to plan their finances. At these fora, we often came across women who were running fantastic mid-tier businesses who required additional capital and guidance. Marrying the two needs into a single broad product was a natural result of this experience.” Commenting on why a fund should be targeted specifically at women, Hewett Benson, managing director of Chapel Hill Denham Management explained that improving the financial position of women in society would have a multiplier effect on the economy as a whole.
