Nigeria’s uncertain forex policies push businesses to seek funding alternatives. Moji Hunponu-Wusu discusses strategies for global expansion.
Securing capital from international markets to launch businesses in Nigeria has become increasingly challenging due to the country’s uncertain foreign exchange policies.
This uncertainty has led many Nigerian businesses to explore alternative funding strategies, turning to grants and financial advisory firms for support and growth opportunities.
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In a recent interview on Channels TV’s Business Morning programme, Moji Hunponu-Wusu, the founder of Woodhall Capital, shed light on how Nigerian businesses can attract foreign investors and expand globally.
Hunponu-Wusu emphasised the importance of showcasing Nigeria’s unique potential, highlighting its status as Africa’s largest economy and its young, entrepreneurial population.
She explained that international investors are looking for opportunities that offer both growth and return on investment, and Nigeria, with its growing economy and promising market, is in a strong position to meet these demands.
“We focus on Nigeria’s strategic opportunities, the country’s position as Africa’s largest economy, and its dynamic, entrepreneurial population,” Hunponu-Wusu said.
She noted that recent government efforts, particularly under President Bola Ahmed Tinubu’s administration, have helped enhance investor confidence.
Initiatives such as economic diversification and a strong push for non-oil exports, alongside measures by the Central Bank to stabilise currency fluctuations, are seen as key factors improving Nigeria’s investment climate.
A key achievement for Woodhall Capital has been securing $25 million in funding from the African Export-Import Bank (Afreximbank) to support Nigerian SMEs looking to break into the export market.
The funds, according to Hunponu-Wusu, will be disbursed based on merit, focusing on SMEs that demonstrate strong potential for international success.
“We’ll identify SMEs that require capacity building and focus on their due diligence, transparency, and ability to access international markets,” Hunponu-Wusu explained.
The funding is specifically aimed at export-ready businesses that possess the capability to succeed on a global stage, and the process will ensure that the funds reach those most likely to benefit.
The impact of this initiative will not only be felt by SMEs in Nigeria but also by local and international markets alike.
Woodhall Capital will play an active role in assisting businesses throughout the process, clearing obstacles that hinder their products and services from reaching global destinations.
Export-ready SMEs will also be onboarded onto the Africa Trade Gateway Platform, an Afreximbank initiative that facilitates seamless trade transactions for buyers and sellers worldwide.
Through this platform, Woodhall Capital will provide international market insights, offering businesses the knowledge and tools they need to succeed in the global marketplace.
With such strategic support, Nigerian SMEs are set to unlock new opportunities and expand their reach, positioning Nigeria as a competitive player on the international business stage.
