TRADE LENDA INTRODUCES A N10 BILLION FUND FOR WOMEN-OWNED AND SHARIAH-COMPLIANT BUSINESSES.

Trade Lenda, a prominent digital bank focusing on empowering small and medium-sized enterprises (SMEs), has officially launched a fund aimed at supporting women and Shariah-compliant businesses.

Adeshina Adewumi, the founder/CEO of Trade Lenda, emphasized the core mandate of empowering SMEs through strategic financing. Since May 2021, Trade Lenda has facilitated over $5 million to support businesses and has worked on removing access-to-finance gaps, not only in Nigeria but also in various African markets.

Following the Pre-Seed funding round closure in January 2023, Trade Lenda took steps to deepen its impact at the grassroots level and understand its user demographic better. Initiatives such as the Trade Lenda SME Fair held in Lagos, in partnership with institutions like Providus Bank, Paystack, Eazipay, Credo, Baobab+, among others, highlighted the need to do more for women and Shariah-compliant businesses.

Certification by the Shari’ah Board of Marble Advisory Limited in January 2024 marked a significant milestone, aligning with the theme of the United Nations International Women’s Day 2024, “Invest in Women: Accelerate Progress.” Trade Lenda has partnered with Marble Capital, FSDH Merchant Bank, and Sterling Bank to enhance financial inclusion for women.

While the announced fund targets women and Shariah-compliant businesses, Trade Lenda remains committed to supporting businesses across gender agnostic lenses through its general funding pool from the ongoing Seed round.

Empowering SMEs has yielded tangible results, including job creation and business expansion, particularly in sectors like Agriculture, Fast Moving Consumer Goods, Oil and Gas, Renewables, and General Trading. Trade Lenda celebrates these successes and anticipates further growth and impact in the days ahead.

For more information, contact: info@tradelenda.com.

Source: Techeconomy