The Brief Academy, in collaboration with Argon Financials, has taken a significant step towards supporting rural women by providing micro loans. The loans aim to empower the women in the communities, enabling them to develop their entrepreneurial skills and create sustainable livelihoods.
In a statement signed by both organisations, the initiative aims at making positive impact on the lives of rural women and fostering inclusive economic growth right from the grassroot levels.
The statement noted that empowering rural women has been recognized as a key factor in achieving sustainable development and reducing poverty worldwide. Recognizing this need.According to the statement, Rural women face numerous challenges, including limited access to education, financial resources, and business opportunities, adding that these obstacles often prevent them from fully participating in economic activities and realizing their potential.
“This is particularly so in Nigeria where only 45% of the 106m adult population is banked and only 2% have a proper loan with a formal banking institution. Majority of the unbanked population are women, with most of them living in rural and semi-urban communities.
Chief Executive Officer (CEO) Of Argon Financials Ayowole Delegan, said “The economic and social impact of programs like this are immeasurable, adding that it is dignifying as a human being to reap from the fruits of your own labor rather than have someone hand you ticket before you can have a meal.
“Now previously unemployed women can do slightly meaningful work, feed themselves and their families. It is really a great feeling to be at the heart of such a change in someone’s life. “The financing opportunities offered by the partnership between The Brief Academy and Argon Financials are designed to provide a helping hand to rural women who 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,” the statement noted.
“The distinguishing factor of this facility is that they are not financial, the partnership also provides training and mentorship to the loan recipients. The training program helps equip the women with the necessary skills and knowledge to manage their businesses effectively, enabling them to overcome challenges and thrive in their respective industries.
“The program covers a range of topics, including business management, marketing strategies, financial literacy, and networking skills. The combination of financial assistance and skills development helps 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,” the statement added.
Speaking about the partnership and program, Farida Yahya, Founder of the brief academy said, building sustainable, community driven initiatives that will impact the lives of people who need it the most in our society is paramount.
“I truly believe that financial inclusion is possible when we foster Partnerships like this and I am very optimistic that this program will provide ripple effects in supporting our academy’s vision of being part of the solutions for socio economic development in our communities. Both organisations maintained that when rural women are given the means to establish sustainable livelihoods, they contribute to local economic growth and poverty reduction, adding that the increased income generated by their businesses can be reinvested in education, healthcare, and other essential needs, creating a positive cycle of development.”
“Moreover, as successful women entrepreneurs become role models, they inspire other women to pursue their entrepreneurial dreams, further driving economic progress,” they assured.” The provided grants have a potential to create a ripple effect in rural communities.
By investing in women’s economic empowerment, these organizations are not only improving the lives of individual women but also uplifting their families and communities.