Enatta Foundation, FCMB unveil loan scheme for Lagos fisherwomen

By Adebola Muili

Fisherwomen and fish processors at Better Life Market, Ilaje Ebute, Lagos, are set to access business improvement loans following a partnership between Enatta Foundation and First City Monument Bank (FCMB) aimed at strengthening their businesses and improving their financial capacity.

The loan scheme was unveiled on Wednesday, November 4, 2026, under the Foundation’s Money Mata programme, which equips women in the fisheries value chain with financial management skills, particularly proper record-keeping and regular savings, as a means of improving their access to credit.

Speaking at the event, the Executive Director of Enatta Foundation, Mrs Adi Okuyelu, said the intervention marked another phase of the Foundation’s empowerment efforts, which began with the provision of boats to the women.

She explained that the Foundation had recognised the need to equip the beneficiaries with the financial knowledge required to manage and expand their businesses, noting that the records they kept through the Money Mata programme had attracted FCMB’s interest in supporting them with loans.

Okuyelu also introduced Zannu, a young girl who assists her mother and other women in completing their business record booklets, describing her as an example of the community participation the Foundation hopes to encourage in the areas where it operates.

Two beneficiaries, Mrs Sonola Abosede, a fish seller and Record Champion for Ilaje Ebute, and Mrs Omotonre Christianah, a periwinkle seller, shared their experiences with the programme.

Abosede said the booklet had helped her organise and monitor her business transactions, while Christianah explained that it had enabled her to distinguish between income and profit and make better pricing decisions.

Also speaking, the Branch Manager of FCMB Group Ogba, Dr Adeola Ejioye, said consistent business records and turnover were important considerations in assessing women’s eligibility for credit.

She urged the beneficiaries to remain committed to proper financial management and ensure timely repayment of the loans when accessed.

Similarly, Mrs Itunu Babarinde, who represented the Lagos State Commissioner and Permanent Secretary of the Ministry of Women Affairs and Poverty Alleviation, commended the initiative and urged the women to make judicious use of the financial support.

The Foundation said the next phase of the Money Mata programme would focus on helping the beneficiaries manage their loan obligations effectively and sustain the financial discipline required to grow their businesses.