The Bank of Industry (BOI) has won two awards at the EMEA Finance Achievement Awards in recognition of its renewable energy and women empowerment initiatives.
The development finance institution received the Best Sustainability Deal in Africa Award for its role in the Nigeria Distributed Access through Renewable Energy Scale Up (DARES) project and the Best Social Development Deal in Africa Award for its Guaranteed Loans for Women (GLOW) programme.
The DARES project is being implemented by BOI in partnership with the Rural Electrification Agency and supported by the World Bank through a $750 million International Development Association credit facility.
The programme aims to expand electricity access in underserved and unserved communities through the deployment of solar mini grids.
According to BOI, the initiative forms part of its Power and Utilities portfolio, through which the bank disbursed N27 billion to eight businesses in 2025.
The bank’s 2025 Annual Development Impact Report stated that all projects supported under the portfolio recorded 100 per cent financial additionality, meaning they would not have gone ahead without BOI’s intervention.
BOI also said its Power and Utilities portfolio achieved the highest Development Impact Framework score among all sectors financed by the institution.
The GLOW programme was recognised for supporting financial inclusion and economic empowerment among women-owned and women-led businesses across Nigeria.
The programme provides access to finance, business support services, training, mentorship and market access opportunities for female entrepreneurs operating in different sectors of the economy.
BOI said the initiative also helps women-owned businesses take advantage of opportunities under the African Continental Free Trade Area.
Speaking on the awards, managing director and chief executive officer of BOI Dr Olasupo Olusi said the recognition reflected the bank’s focus on projects that deliver economic, social and environmental benefits.
“These awards reflect the Bank of Industry’s deliberate focus on supporting projects and programmes that deliver measurable economic, social, and environmental outcomes for Nigerians. Whether it is bringing reliable electricity to underserved communities through renewable energy solutions or empowering women entrepreneurs by providing access to affordable finance and growth opportunities, our goal remains the same: to build a more inclusive, resilient, and sustainable economy. We are honoured by this international recognition and remain committed to deepening our impact across sectors that matter most to national development.”
BOI said the awards highlight its efforts to support sustainable development and industrial growth through financing solutions that address development challenges while creating opportunities for businesses and communities.
The bank added that it remains committed to supporting the Federal Government’s economic transformation agenda through investments aimed at growing enterprises, creating jobs and improving livelihoods across the country.
