NCGC unlocks N46.9bn in loans, but women get just 17% - Businessday NG

…As GuaranteeHer targets credit gap

Nigeria’s National Credit Guarantee Company (NCGC) has unlocked M46.95 billion in loans for businesses in its first year of operation, but women-owned enterprises accounted for only 16.8 percent of beneficiaries, exposing a persistent gender gap in access to formal credit.

The NCGC provided N21.59 billion in risk cover through 19 participating financial institutions (PFIs), comprising 13 commercial banks, three microfinance banks and three development finance institutions, according to its inaugural impact report.

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The intervention reached 67,512 end-borrowers across 25 states and the Federal Capital Territory, with about 22,600, or 33.5 percent, classified as first-time formal borrowers.