In a move to bolster economic opportunities for women-led businesses, Nigeria’s First City Monument Bank (FCMB) and the International Finance Corporation (IFC) have partnered to launch the Goldman Sachs 10,000 Women Online program across the country. The initiative, part of a broader global effort to close gender gaps in entrepreneurship, aims to equip Nigerian women with advanced business skills, mentorship, and networking opportunities to scale their enterprises sustainably.
The Goldman Sachs Foundation’s 10,000 Women initiative, which has reached over 200,000 entrepreneurs in more than 100 countries, offers practical training developed by experts from leading business schools and delivered online through the University of Leeds. Participants gain access to ten courses covering finance, marketing, and strategic planning, alongside eligibility to join an international alumni network. For Nigeria, the program aligns with FCMB’s existing SheVentures platform, which has disbursed zero-interest loans totaling ₦800 million (approximately $530,000) while providing mentorship to thousands of women-owned small and medium-sized enterprises (SMEs) since 2020.
“Women entrepreneurs are catalysts for innovation and employment, yet systemic barriers often hinder their potential,” said Yemisi Edun, Managing Director of FCMB. “This collaboration will not only build critical skills but also open doors to broader markets and resources, reinforcing our commitment to inclusive economic growth.” George Ogbonnaya, FCMB’s Divisional Head of Business Banking, echoed this sentiment, noting the partnership’s focus on leveling the playing field for women in Nigeria’s competitive business environment.
Applications for the tuition-free program are open to both startups and established businesses until August 31, 2025. Interested entrepreneurs can register online, with selection criteria emphasizing scalability and community impact.
The IFC, a World Bank Group entity focused on private-sector development, brings decades of experience in financing and advising SMEs in emerging markets. Its collaboration with FCMB builds on the bank’s track record in gender-inclusive financing, which has seen over 50% of its SME loans directed to women-led ventures in recent years. The Goldman Sachs Foundation’s involvement further signals a growing international emphasis on entrepreneurship as a driver of local economies, particularly in regions like sub-Saharan Africa, where women account for nearly 58% of self-employed individuals but face disproportionate access to capital and training.
Academic partner the University of Leeds, a UK-based institution renowned for its research and educational excellence, ensures the program’s curriculum aligns with global business standards. Its role underscores the cross-border collaboration necessary to address persistent inequities in entrepreneurial ecosystems.
With Nigeria’s SMEs contributing nearly 50% of its GDP, initiatives like the 10,000 Women program could prove pivotal in unlocking economic resilience and reducing unemployment rates, particularly among the country’s youth. For participants like Temitope Adekunle, a Lagos-based fashion designer who expanded her business through SheVentures’ support, the partnership represents “more than training—it’s a chance to connect with a global community that understands our challenges and opportunities.”
As the application window narrows, stakeholders emphasize the long-term vision: transforming individual success stories into broader socioeconomic progress.
