Wed. Jul 24th, 2024

Nigeria: NGOs Empower Women Entrepreneurs With Loans

 

By Justina Auta

The Brief Academy and Argon Financials, both NGOs, have empowered some rural women with micro loans to develop their communities, entrepreneurial skills and create sustainable livelihoods.

This is contained in a statement signed by both organisations on Monday in Abuja in a bid to achieve the Sustainable Development Goals (SDGs) and reduced poverty.

Ms Ayowole Delegan, Chief Executive Officer (CEO), Argon Financials, said the initiative was aimed at making positive impact on the lives of rural women and foster inclusive economic growth at the grassroots.

Delegan noted that lack of education, financial resources and business opportunities were obstacles that often prevent rural women from participating in economic activities to realise their potentials.

According to her, the financing opportunities offered by the groups will enable the rural women aspire to start or expand their businesses.

“These loans are relatively small in amount but have a significant impact on the lives of the recipients.

“They can be used for various purposes, such as purchasing equipment, raw materials or inventory or even covering operational costs,” she said.

She said the financing opportunities would also help the women build self-confidence, overcome barriers and enhance their decision-making abilities.

“The initiative also fosters a sense of community among the recipients. The women share experiences, learn from each other and build a support system.

“This sense of community is essential in rural areas where isolation and limited resources often hinder progress,” she added.

Ms Farida Yahya, the Founder, Brief Academy, said the partnership would build sustainable, community driven initiatives that will impact the lives of people who need it the most in our society is paramount.

She said: “I truly believe that financial inclusion is possible when we foster partnerships like this.

“I am very optimistic that this programme will provide ripple effects in supporting our academy’s vision of being part of the solutions for socio-economic development in our communities.” (NAN)

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