A recent documentary by BBC shows the entrepreneurial spirit of Nigerian women. BBC spoke to two women – Ayo Megbope and Aminat Salau – who sell moi moi, a meal made from beans, to make a living.
“Forty percent of Nigerian women are entrepreneurs, that is higher than anywhere else in the world,” BBC said.
Ayo started by selling moi moi, but now has a restaurant and a catering service.
“I started my business about nine years ago with a seed capital of $3. Nine years after, we are turning over about $250,000 annually. My access to education and information has helped me a great deal. Family and friends have also been good to me. There have been times that I got stuck and I needed to raise capital and I ran to family and friends because the traditional financial institutions would not listen to me,” Ayo said.
According to Aminat: “Sales are good, on some days we sell 60 or 80 wraps in the morning. When we have more time or more people passing by, we sell till late in the evening.”
According to BBC: “Female entrepreneurs in Nigeria often struggle to secure investment, banks normally require collateral, like property, which women often do not have. Without access to capital, it will be difficult for Aminat to grow her business.”