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Arewa Femtech Fest: A Northern Nigeria Virtual Hackathon Event for Financial...

Going by a report from PWC in April 2020, 41% of micro-businesses in Nigeria are owned by women. According to reports from EFInA, more than 55% of financially excluded adults in Nigeria are women and of the 25.1million financially excluded in the north, 13.1 million are women. Business transactions are largely denominated in cash within the informal channels. Business funds are kept at home because financial institutions are concentrated in the state capital and few distant towns. Poor record keeping as a result of transacting through informal channels which in turn hampers their eligibility for credit.