As part of its continued commitment to women and the Medium, Small, and Medium-scale Enterprise (MSME) sector in Nigeria, AXA Mansard, the global leader in insurance and asset management, has supported three female-owned MSMEs with business grants totalling 1.4 million.

The three businesses were successful at the International Women’s Day Pitch Competition, organised in partnership with SME 100 Africa. The business pitch competition, aimed at supporting female entrepreneurs in Nigeria, “is another way AXA is demonstrating its commitment to the causes of women and stimulating the MSME sector in Nigeria,” said Olusesan Ogunyooye, Head of Marketing, AXA Mansard.

The business pitch competition received numerous entries from women across different sectors, but after a rigorous selection process, shortlisted participants were selected to participate in the competition, which was held at the Oriental Hotel, Lagos.

According to Ogunyooye, the pitch competition provided a unique opportunity for women from various works and socio-economic classes to showcase their innovative ideas and solutions in sectors such as food, tech, fashion, and fragrance, creating an atmosphere filled with excitement, enthusiasm, and a strong sense of community.

He further emphasized the importance of investing in women, noting that it is not just the right thing to do; but also aligns with AXA’s purpose of acting for human progress. He explained that AXA believes the future of women shouldn’t be at risk; hence investing in their economic empowerment is a crucial part of women derisking their future.  

He explained, “Women are very important in the socio-economic interplay. But more important are women who run MSMEs. We are all aware that MSMEs are the life blood of any economy. So the more of them we empower, the more jobs we can create, the more wealth can be distributed. So this grant for us at AXA is the right thing to do in a lot of ways and we are looking to do more for the Nigerian women and MSMEs“.

The winners of the competition are Lawon Ajoke, Founder of Calcium Hub, Ngozi Ada Onyekwelu, Founder of Ibbie Gold Smart Cards, and Taiwo Esther, Founder of Damseth Enterprise. Calcium Hub won the start grant of one million naira; while Ibbie Gold Smart Cards and Damseth won two hundred thousand naira respectively