The Problem We Are Solving
Women-led businesses in Nigeria’s manufacturing, agribusiness, and nutrition sectors face a persistent financing gap not because they lack ambition, but because the infrastructure to make them investment-ready has never been built at scale.
Rising energy costs, limited access to structured finance, and shifting global sustainability standards are widening this gap. The businesses that will survive and scale are those that can navigate all three at once.
W.O.M.A.N by Alitheia is built to give them the tools to do exactly that.
Who We Are
Woman in Manufacturing, Agribusiness and Nutrition (W.O.M.A.N) is Alitheia Capital’s flagship enterprise development and industrial transformation platform. It is a national conference designed to unlock growth, resilience, and capital access for women-led MSMEs operating in Nigeria’s real economy.
In the 2026 edition, Alitheia Capital will host the inaugural National W.O.M.A.N Conference in Lagos, bringing together 300 women-led enterprises alongside financial institutions, development finance institutions, policymakers, and ecosystem enablers shaping Nigeria’s industrial and MSME agenda for a full day of structured learning, financing conversations, with practical tools.
Every participant would also receive 12 months of access to Nzinga — Alitheia Capital’s digital SME learning platform — covering financial management, investor readiness, ESG basics, green manufacturing fundamentals, and export preparation.
Impact
We embed ESG criteria into every stage of our investment lifecycle—from screening, due diligence to portfolio management, and exit strategies. This ensures that the businesses we support align with our core objectives of gender lens investing, climate resilience, value creation and inclusive growth. By adopting global frameworks like the Operating Principles for Impact Management and the Impact Frontiers dimensions, we measure and manage impact rigorously.
Programme Pillars
The W.O.M.A.N platform is structured around four integrated pillars, each designed to address a specific barrier to growth for women-led enterprises in Nigeria’s real economy:
The W.O.M.A.N
The W.O.M.A.N platform is structured around four integrated pillars, each designed to address a specific barrier to growth for women-led enterprises in Nigeria’s real economy:
The W.O.M.A.N platform is structured around four integrated pillars, each designed to address a specific barrier to growth for women-led enterprises in Nigeria’s real economy:
The W.O.M.A.N platform is structured around four integrated pillars, each designed to address a specific barrier to growth for women-led enterprises in Nigeria’s real economy:
The W.O.M.A.N platform is structured around four integrated pillars, each designed to address a specific barrier to growth for women-led enterprises in Nigeria’s real economy:
Transformative Impact In Action
Our portfolio companies are at the forefront of innovation and inclusion:
Fund: Alitheia IDF
SDG 1: Supported 11,050 farmers, including 3,315 women.
SDG 5: Created 209 jobs, predominantly for women (85%).
SDG 13: Our solar battery storage and biodigester technology cut power costs by over 30% and reduced carbon emissions by over 15,142 tons.
Fund: Alitheia IDF
SDG 4: Achieved over 40% increase in school partnerships for effective educational outcomes.
SDG 5: 51% of the company is women-owned or led, with 43% female employees and over 80% female customers.
SDG 12 & 13: Uses biodegradable cardboard boxes made from renewable sources for shipments and employs solar battery storage in retail stores, contributing to climate action
Fund: Alitheia IDF
SDG 2 & 13: Increased production capacity utilization to over 54%, reducing energy costs and carbon emissions by 15% and 20%.
SDG 5: Created 257 jobs, with 55% women ownership and 61% female employees.
SDG 12: Circularized over 106kg of waste, enhancing efficiency and reducing landfill waste by 2%.
Fund: Alitheia IDF
SDG 5: 55% of employees are women, and 43% of our board members are women, with a 29% increase in female distributors.
SDG 8: Created 424 direct jobs, contributing to an estimated 73,776 indirect jobs in the local economy
SDG 9: Achieved over 64% capacity utilization with 100% net availability and zero defective goods.
Fund: Alitheia IDF
SDG 5: 45% women-owned/led, 31% women staff, and 30% women customers.
SDG 8: Created 16 direct jobs with a 250% increase in job creation since 2020, financing over 200 customers.
SDG 9: Digital platform user growth from 65% to over 90% year-on-year.
Fund: Alitheia IDF
SDG 5: 42% female workforce, 29% women in management, and 29% female suppliers, promoting gender equality
SDG 8: Created 178 direct jobs, facilitated over 50 million API calls, supporting 100 million+ people across Sub-Saharan Africa.
SDG 9: Engaged 35 female suppliers; 30% of outsourced software developers and 12% of hardware suppliers are women.
Fund: uMunthu II
SDG 5: 528 employees with 35% women in the workforce, including 33% female executives.
SDG 8: 45,000 active retailers accessing $11.7 million in loans, with >4,900 benefiting from credit facilities.
SDG 9: Operations expanded to 25 cities within Sub-Saharan Africa, increasing access of small-scale enterprises to financial services, and their integration into value chains and markets.
Fund: uMunthu I
SDG 5: Created 170 jobs, with 30% female workforce and 33% in executive roles, promoting gender equality.
SDG 8: Supported over 23 million users and 27 million transactions, facilitating financial inclusion and job creation.
SDG 9: Expanded to 36 states and 2 countries, offering 6 products and investing in digital infrastructure.
Fund: uMunthu I
SDG 5: 25% female workforce and 33% female managers, promoting gender inclusion in transport.
SDG 8: Created 700 direct jobs and 45,000 indirect jobs, boosting driver incomes by over 1,300% and supporting thousands of SMEs.
SDG 13: Reduced CO2 emissions by over 642,000 metric tons through the deployment of electric vehicles.
Fund: uMunthu I
SDG 5: Created 60 direct jobs, with 32% female employees, promoting gender equality.
SDG 8: Facilitated USD 18.9 million in micro-loans and USD 26.4 million in savings deposits, serving 50 organizations in 12 countries.
SDG 9: Facilitated USD 18.9 million in micro-loans and USD 26.4 million in savings deposits, serving 50 organizations in 12 countries.
Fund: uMunthu I & II
SDG 5: Created 31 direct jobs, with 42% female employees and 43% women in board roles, promoting gender equality
SDG 7: Enhanced energy access with over 420,000 meters deployed, serving over 700 rural areas.
SDG 9: Strengthened infrastructure with more than 90 customers for Microgrid and Central Grid hardware, and over 85 for our SaaS solutions.
Fund: uMunthu I
SDG 1: Supported 1,132 smallholder farmers, including 629 women, resulting in over a 165% increase in their incomes.
SDG 5: Created 197 direct jobs, with 32% female employees and significant representation of women in leadership roles.
SDG 8: Provided over $200,000 in loans to farmers, boosting average yields to 26.3 tons per hectare and increasing smallholder incomes to an average of $424.
Fund: Umunthu II
SDG 5: Empowered over 13,200 smallholder farmers in Sub-Saharan Africa, enhancing productivity and income through sustainable practices.
SDG 8: Created 55 direct jobs and over 100,000 indirect jobs, with 24% female workforce and 49% female smallholder farmers.
SDG 9: Connected 13,000 farmers with 15+ large buyers, optimizing supply and demand through data-driven infrastructure.
Fund: uMunthu II
SDG 5: Created 29 direct jobs with 34% female employees and 33% female executives, promoting gender inclusion.
SDG 8: Generated over 400 jobs in the value chain, including 1,000+ indirect jobs, 160+ active drivers, and 20+ cargo clients across Nigeria
SDG 9: Achieved a 35% reduction in road traffic accidents year-over-year by optimizing route planning through our tech platform.
Achieving True Impact
At Alitheia Capital, Environmental, Social, and Governance (ESG) principles are at the core of our investment philosophy, guiding us in creating meaningful and lasting change across Sub-Saharan Africa. For almost two decades, we have championed transformative impact through strategic investments that balance financial returns with sustainable social and environmental outcomes.
