In a harmonious blend of innovation and social responsibility, Tech Herfrica, in collaboration with its Gold Partner, Onome Food Market, Lexicon Media and Sterling Bank, took a significant step toward enhancing financial literacy and promoting financial inclusion in the vibrant Mpape community of the Federal Capital Territory.
This remarkable initiative unfolded on the occasion of World Literacy Day, marking a promising transformation in the lives of the community women.
Tech Herfrica, with its overarching mission to provide digital access to low-income women, recognized the potential for these women to boost their income by up to 50% through e-commerce opportunities.
However, this vision hinged upon imparting them with essential financial knowledge and equipping them with the right tools to save and cultivate their wealth.
Sterling Bank, a staunch advocate for financial literacy, played a pivotal role in facilitating the training session. Over the course of the day, 127 resilient low-income women, primarily engaged in agriculture and trade, were immersed in the fundamentals of savings and business management.
The women gleaned invaluable insights into the significance of delineating personal finances from business finances and the art of prudent saving, irrespective of the amount. Sterling Bank introduced its ground breaking product, the One Woman Saver designed with the unique needs of low-income women in mind.
This innovative offering empowers women to cultivate a savings habit on their own terms, enabling them to decide the amount and frequency of their contributions for a minimum of six months. For those who remain steadfast in their savings commitment, a generous 6% interest on their savings beckons, along with eligibility for business loans.
Additionally, women who embrace the One Woman Saver product can access free healthcare for themselves and their children, with coverage extending up to a maximum expenditure of…
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