FairMoney executive Chinwe Iwobi shares five key strategies for Nigerian women entrepreneurs to build lasting wealth and scale their businesses

Chinwe Iwobi, Head of Wealth Management at FairMoney Microfinance Bank, has outlined five core strategies for Nigerian women entrepreneurs to move beyond resilience and build generational wealth.

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She noted that women own around 40% of SMEs in Nigeria but face systemic hurdles accessing financial infrastructure.

Iwobi warned that this limitation affects household stability and national GDP.

Her wealth-building pillars include:

1. Separate Personal and Business Finances – Mixing accounts hides true profits and limits access to formal credit.
2. Create an Opportunity Fund – Reserve liquidity for rapid expansion or inventory discounts to act decisively in unpredictable markets.
3. Invest Surplus Cash – Move idle funds from current accounts into revenue-generating assets to combat inflation and lost opportunity costs.
4. Use Formal Payment Channels – POS and digital payments build a verified credit history, strengthening access to lenders.
5. Diversify Personal Wealth – Avoid tying all net worth to the business; invest in personal instruments like money market funds.

Iwobi emphasised that resilience must be deliberate, encouraging digital products for service-based businesses and disciplined capital allocation.

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She concluded that empowering women entrepreneurs is not only socially beneficial but economically critical: scaling women-led businesses strengthens communities, education, and local economies.