According to the World Bank, small- and medium-sized enterprises (SMEs) comprise about 90% of the global economy. But these kinds of businesses – too big for microfinance and too small for commercial bank loans with favorable rates – face many hurdles to borrow money. On today’s episode of the Hidden Economics of Remarkable Women, we delve deeper into the “missing middle” credit gap and what can be done to improve SMEs’ access to financing. Also, we look at specific barriers to women business owners, such as how low property ownership rates hinder their ability to qualify for small business loans. 

Host Reena Ninan talks to Ada Osakwe, founder of the Nuli Juice Company, about the various obstacles she overcame to expand her business – including her first store almost getting destroyed in Lagos, Nigeria. Then, World Bank Financial Inclusion Expert Mahesh Uttamchandani shares the financial solutions he is most excited about for SMEs. 

Special thanks this week to IFC’s Jessica Schnabel, who recommended we talk to Ada Osakwe, and to Mary Ellen Iskenderian from Women’s World Banking. The Hidden Economics of Remarkable Women is a Foreign Policy podcast made possible through funding by the Bill & Melinda Gates Foundation.

*Correction note 3:30 p.m. EST, Apr. 7: An earlier version of this episode called Mahesh Uttamchandani an economist. That has been corrected to reflect his title as a financial inclusion expert. We apologize for the error.

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