Okonjo-Iweala: $50m Fund Launched to Boost Nigerian Women in Digital Trade

World Trade Organisation chief Ngozi Okonjo-Iweala has launched a $50 million fund to help women entrepreneurs in developing countries compete in the global digital economy.

Nigeria is one of only four countries selected for the first phase, alongside Jordan, Mongolia, and the Dominican Republic.

The Women Exporters in the Digital Economy Fund will provide training, resources, and financial support to women-led businesses.

Out of more than 67,000 Nigerian applicants, 146 have been chosen. Sixteen will receive up to $30,000 each plus 18 months of technical support, while 130 others will get up to $5,000 and a year of mentoring.

Okonjo-Iweala said the move comes at a time when digital trade is the fastest-growing segment of global commerce, now worth over $4 trillion, yet Africa’s share is less than one percent.

She warned that Nigeria’s low internet access, only 45% of citizens are online, and unreliable electricity could hold back progress.

“Without steady power and affordable internet, we can’t fully seize digital trade opportunities,” she cautioned, urging government agencies to work together to improve infrastructure.

Women remain underrepresented in Nigeria’s booming ICT sector, owning just 30% of tech firms.

Okonjo-Iweala stressed that empowering women is “smart economics” and warned against taxing cross-border digital trade, which could hurt small businesses.

“This is more than a programme,  it’s a movement,” she said. “We want Nigerian women not just to survive but to thrive on the world stage.”