Women Entrepreneurs in Nigeria Urged to Adopt Tech and Legal Frameworks for Growth
Business leaders and technology experts have called on women entrepreneurs in Nigeria to embrace digital tools, strengthen legal structures, and build sustainable systems to scale their businesses and remain competitive in a challenging economic environment. The call was made during the Zoho Women in Business Summit – Nigeria, where speakers highlighted the critical role of technology and proper legal frameworks in driving business success.
Technology as a Catalyst for Efficiency and Growth
Kehinde Ogundare, Country Head of Zoho Nigeria, emphasized that many businesses struggle due to fragmented access to education, capital, and disconnected tools, which create operational inefficiencies and slow growth. He noted that reliance on outdated systems, such as spreadsheets, continues to limit productivity and increase the risk of errors.
Ogundare stressed that modern businesses must adopt integrated technology solutions to remain efficient. He explained that the current economic realities require businesses to scale quickly to recover costs and generate profit, a process that cannot be achieved with manual or inefficient systems. According to him, technology should simplify processes rather than complicate them, and Zoho’s vision is to democratize access to technology through integrated applications used across more than 80 countries.
He highlighted marketing, sales, finance, and operations as core pillars of any successful business, noting that smart operations and automation can significantly reduce errors, improve service delivery, and allow business owners to focus on strategic growth. Ogundare also advised entrepreneurs to adopt connected systems that provide real-time analytics and data-driven insights for smarter decision-making.
Addressing Structural Challenges Faced by Women Entrepreneurs
Praise Olusegun, Sales Manager for Middle East and Africa at Zoho, described women-owned businesses as a powerful economic force in Nigeria, noting that the country has one of the highest rates of female entrepreneurship globally. She said women own more than half of Nigeria’s over 40 million small and medium-sized enterprises, but many still face structural challenges, including limited access to finance, technology, and global markets.
Citing research findings, Olusegun noted that a significant number of women-led businesses earn modest daily profits, underscoring the need for greater support. She urged participants to leverage technology and build networks that support growth, emphasizing that digital tools can help entrepreneurs better manage their operations and expand beyond local markets.
Importance of Legal Frameworks for Resilience
International Arbitration Consultant Perenami Momodu said strong legal frameworks are essential for building resilient businesses capable of withstanding economic shocks and global uncertainties. She explained that resilience involves preparing for disruptions such as inflation, regulatory changes, and global crises.
Momodu pointed out that while Africa has a high rate of female entrepreneurship, women-led businesses remain significantly underfunded, with only a small fraction of global and African venture capital funding going to female-led businesses. She advised entrepreneurs to establish clear corporate structures, develop strong contracts, protect intellectual property, and ensure regulatory compliance to build sustainable enterprises.
Redefining Success Beyond Financial Performance
During a panel session, speakers emphasized the need to redefine success in business beyond financial performance. Uloma Amodu, Sales Manager for Sub-Saharan Africa at Truecaller, said success should also be measured by the impact leaders create and the lives they influence.
Chinazom Arinze, Founder and CEO of AutoGirl, highlighted the importance of financial growth in expanding influence and driving social impact, explaining that her company leverages technology to connect vehicle owners with individuals and organizations in need of transport services through a scalable mobility platform.
Datari Ladejo, Founder of Fernhill Digital Group, noted that while many women start businesses to address social challenges, they often overlook the importance of building strong financial systems. She stressed that impact must be supported by sustainability to ensure long-term success.
Judith Didi Ebirim, Chief Impact Officer at Impressum Africa Limited, added that profit and purpose are not mutually exclusive, noting that purpose drives ambition while profit ensures continuity.
The summit concluded with a strong message encouraging women entrepreneurs to continuously learn and adopt emerging technologies, including artificial intelligence, as key factors for staying competitive in a rapidly evolving business landscape.
