We understand that poverty lies at the heart of unreported cases of Gender-based violence (GBV). Most women are often afraid they will lose their economic support if they report. Statistics show domestic violence has increased in the wake of the hashtag#COVID19 pandemic. Women have a huge role to play in nation-building. Gender inequality, unpaid care, and a largely unskilled women’s group are some issues to name a few that hold them back.
Women’s empowerment is one of the practical solutions to reducing the cases of violence against women. Understanding this, South Saharan Social Development Organization, through its Jacob’s Well program is providing micro-credit to female-owned small businesses. This will help women achieve financial independence and reduce poverty.
So far in 2024, 31 beneficiaries across four registered cooperatives got loans to grow their businesses. As part of our commitment to financial literacy, they were trained in risk management, savings culture, business record keeping, and cooperative management using the GIZ Nigeria & ECOWAS resource manual to help sustain and grow the venture. In addition, we’ve printed and commenced distribution of 1000 copies of our Business Record Book to enhance record-keeping practices among loan collectors, ensuring efficient management of finances and resources.
A sum of 9.5 million naira was disbursed to these women with no collateral required leveraging the social trust within the cooperative mechanism to ensure compliance across the board. We are happy to report that the various businesses are thriving and the beneficiaries are doing tremendously well.
