July 22, (THEWILL) – US Deputy Assistant Secretary (DAS) of Commerce for Middle East and Africa Camille Richardson has launched the Women Empowered Leave Legacies through Trade and Investment (WELTI) Initiative.
A Press Release issued by the United States Consulate General, Public Affairs Section on Thursday, stated that the American Business Council in Nigeria CEO and Executive Secretary Margaret Olele participated in a virtual session entitled: “Women Empowered Leave Legacies through Trade and Investment (WELLTI).”
The event was organised by the US Commercial Service Office, the diplomatic arm of the US Department of Commerce’s International Trade Administration and part of the US Foreign Service.
The session was attended by over 400 attendees from around the world, and featured women leaders from the US Chamber of Commerce affiliates in the Middle East and Africa (MENA) region including Jordan, Egypt, Morocco, Abu Dhabi, Nigeria, and South Africa.
The session’s discussion revolved around opportunities, challenges, and solutions for women doing business in the Middle East and Africa. The conversation gave attendees insights and advice from experienced women chamber leaders in the region.
The US Deputy Assistant Secretary (DAS) of Commerce for Middle East and Africa Camille Richardson launched the event and briefed attendees about the WELTI initiative, which aims to bring together leading businesswomen from the United States and the MENA region to discuss strategies.
These techniques can provide them with the data, knowledge, contacts, and financing to increase international trade.
DAS Richardson shared insightful statistics stating that “more than 90 percent of enterprises around the world are considered as SMEs, which account for nearly 80 percent of jobs globally.”
She also mentioned that, “Women own nearly 10 million of the world’s SMEs.”
DAS Richardson concluded with the fact that “Sustainable economic growth and achievement of the [United Nations] Development Goals are possible only through the active participation of women.”
AmCham Nigeria representative Margaret Olele stated that, “A lot of women, especially during COVID, started to see opportunities” in entrepreneurship, specifically citing healthcare and ecommerce.
These recent entrants constitute just a fraction of Nigeria’s female entrepreneurs, many of which are engaged in entrepreneurship of necessity to support themselves or families.
Despite the high participation rate, Margaret acknowledged the “challenges that women face remains the same around access to information, funds, and financing.” These are several of the shortcomings that the WELLTI initiative wishes to address.
The American Business Council is a steadfast supporter of the US private sector doing business in Nigeria.
Through events, advocacy, and their newsletter, they connect and promote U.S. business interests in the market.
About the Author
Anthony Awunor, is a business correspondent who holds a Bachelor of Arts Degree in Linguistics (UNILAG). He is also an alumnus of the Nigerian College of Aviation Technology (NCAT), Zaria Kaduna State. He lives in Lagos.
