helping women achieve financial independence to reduce poverty
Women’s poverty lies at the heart of their marginalization and oppression. For women to become active citizens and have their rights respected and needs met, their economic empowerment needs to be guaranteed. SSDO initiated The Jacob’s well project in 2016, to provide micro-credit to female-owned small businesses, in a bid to help women achieve financial independence, encourage financial inclusion and reduce poverty. Loans are given to empower the woman who must be members of a duly registered cooperative.
The entire project activity includes: Identification, Verification visits, Trainings, Disbursement of funds, Monitoring and Evaluation. Amongst the above listed activities, verification is a very important activity that ensures that an intending beneficiary is trust worthy. During this activity the details of the forms that they filled during identification is confirmed. Monitoring and Evaluation takes place after the loans have been given out.
To achieve a sustainable development goal to women; SSDO trained 306 people (300 women and 6 men) from eight cooperatives on Cooperative management, Bookkeeping, Leadership, Risk management, Savings and Report Writing.
The Micro Credit Scheme (Jacob’s Well) empowered 306 women with loans that helped them improve their businesses from a smaller scale to a larger scale. From 2016 to 2021, 21.6 million naira has been disbursed to these women. Some women were also able to start new businesses with the loans that they received.
Some of the Moments
Several women were financially empowered to help them start small businesses