Bank of Industry, NCGC Launch GLOW
Analysis based on 6 articles · First reported Dec 10, 2025 · Last updated Dec 12, 2025
The launch of the GLOW program by Bank of Industry and National Credit Guarantee Company is expected to positively impact Nigeria's financial markets by fostering inclusive economic growth and supporting Micro Small and Medium Enterprises (MSMEs). This initiative will likely boost the creditworthiness and operational capacity of women-owned businesses, potentially leading to increased economic activity and job creation in various sectors.
The Bank of Industry (BOI) and the National Credit Guarantee Company (NCGC) have launched the 'Guaranteed Loans for Women' (GLOW) program, a N10 billion loan scheme designed to provide affordable financing to women-owned businesses across Nigeria. The initiative, championed by Bank of Industry Managing Director Olasupo Olusi, aims to dismantle long-standing financing barriers and stimulate inclusive growth in high-impact sectors such as manufacturing, ICT, and healthcare. Under a Memorandum of Understanding signed in Abuja, National Credit Guarantee Company will provide a 25 percent credit guarantee cover on Bank of Industry loans, significantly reducing lender risk and enabling broader access to capital for women-led MSMEs. The program offers concessionary interest rates of seven percent, flexible collateral provisions, and embedded capacity-building support. The overwhelming market response, with over 33,000 applications valued at N65 billion already in progress, underscores the urgent need for such interventions. Bonaventure Okhaimo, Managing Director of National Credit Guarantee Company, affirmed the company's commitment to strengthening the credit ecosystem and empowering women entrepreneurs.
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