In this report, ENE OSHABA dwells on the increasing poverty rate amongst rural women, especially in the northern region, as well as organisations in the forefront of creating financial freedom for such women.
Poverty has persisted among women in Africa and particularly in Nigeria where rural women still struggle a lot due to poor education coupled with socio-cultural hindrances and biases that limit their opportunities.
Surveys by the World Bank, International Labour Organisation (ILO), and the National Bureau of Statistics (NBS), from 2000 to 2019, revealed that though both men and woman were given the equal opportunity for access to education, literacy rate among females in the rural areas was less compared to males due to the drop-out rate of females in upper secondary school which subsequently affects their choice of employment.
Also, majority of rural women engage in non-farming sector which either does not result in high income or any stable financial rewards for them.
Experts have also said that globally, rural poverty continues to surpass poverty in urban locations. Rural residents are more likely to experience and stay in poverty longer than urban residents. Most especially, women in rural areas, continue to live in extreme poverty and entrenched deprivation often exacerbated by violent conflicts and vulnerability to disasters.
Women constitute the majority among the poor within rural communities and poverty impacts more severely on them as they more often than not shoulder the family responsibilities such as providing basic necessities for their immediate and extended family members.
Intervention
In the bid to alleviate poverty among women the Brief Academy and Argon Financials took up the responsibility of supporting rural women with start-up grants to enable them take care of their economic needs while also having small savings.
According to the organisations, empowering rural women has been recognized as a key factor in achieving sustainable development and reducing poverty worldwide.
Recognising this need, The Brief Academy, in collaboration with Argon Financials, took the significant step towards supporting rural women by providing micro grants.
These grants aim to empower women in rural communities, enabling them to develop their entrepreneurial skills and create sustainable livelihoods.
The Brief Academy, is a concierge learning hub for early-stage purpose driven founders; a social initiative that believes in the ability of start-ups to achieve their financial dreams while making an impact.
Founder of the Brief Academy, Farida Yahya, said that through joint efforts, both organisations were making a positive impact on the lives of rural women and fostering inclusive economic growth.
Speaking about the partnership and programme, Farida Yahya, said: “I truly believe that financial inclusion is possible when we foster Partnerships like these. When we build sustainable, community driven initiatives that will impact the lives of people who need it the most in our society.
“I am grateful for the support and trust of a partner such as Argon Financials, 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.
“We understand the limitations and impediments that make it seem so far-fetched. With the founder’s knowledge, experience, and achievements, paired with zeal, passion, and drive for Women empowerment of our diverse team, we give attendees an opportunity to develop and deploy their ideas to the market in the most viable way through our unique integrated approach using storytelling, case study analysis, and peer learning, using multimedia channels. This keeps learning inclusive and interactive.”
Addressing gender disparities
Rural women face numerous challenges, including limited access to education, financial resources, and business opportunities. These obstacles often prevent them from fully participating in economic activities and realizing their potential.
Since the Presidential Enabling Business Environment Council was established in 2016, which aimed to
minimise the constraints of starting and running a business in the country. In fact, just three countries, India, China, and Nigeria, are expected to account for 35 per cent of the growth in the world’s urban population between 2018 and 2050, according to a 2018 UN Report on Urbanization.
India is projected to add 416 million urban dwellers, while China is expected to add 255 million, and Nigeria 189 million.
However, according to a 2019 publication, women’s participation in the largest African economy has not grown much in the last two decades.
SheTrades: Promoting SME Competitiveness in Nigeria, a report from the International Trade Centre (ITC) that looked at around 400 women-owned or led businesses in Nigeria, showed that only 50 per cent of all women in Nigeria in 2018 participated in the labour force, barely an increase since 1990.
The report identified societal and economic challenges that entrepreneurs face while highlighting the support Nigerian women need to grow their enterprises. This includes registration and certification, banking, skills development, and flexible work environments.
Micro grants unlocking opportunities
According to the SheTrades report, women play a major role in Nigeria’s economy, adding that women entrepreneurs have tendencies to employ other women in their companies, thereby improving the performance of women-owned or led firms and creating a more equitable distribution of income.
It is as a result of this that the Brief Academy and Argon Financials provides micro grants aimed to address these gender disparities by providing financial support to rural women entrepreneurs.
The micro grants are designed to provide a helping hand to rural women who aspire to start or expand their businesses.
These grants 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. What sets these micro grants apart is that they are not solely focused on financial assistance,” Yahya explained.
The Brief Academy and Argon Financials also provide training and mentorship programs to the grant recipients. These programs help 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 empowerment of rural women goes beyond financial support. By offering training and mentorship, The Brief Academy and Argon Financials empower women with the tools they need to become successful entrepreneurs.
“These programs cover 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,” she said.
Moreover, these initiatives also foster a sense of community among the grant recipients. The training and mentorship programs facilitate networking opportunities, enabling women to 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.
Creating sustainable change
Explaining the aims of the grants Yahya noted that the micro grants have the potential to create a ripple effect in rural communities, adding that by investing in women’s economic empowerment, these organisations were not only improving the lives of individual women but also uplifting their families and communities.
“When rural women are given the means to establish sustainable livelihoods, they contribute to local economic growth and poverty reduction. 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,” she added.
She assured that both organisations were making significant difference in the lives of rural women through their micro grants and comprehensive support programs, stressing that by addressing gender disparities and fostering economic empowerment, rural women’s lives are not only transformed as individual lives but also catalysing sustainable change in rural communities.
“Our collaborative efforts are paving the way for a more inclusive and prosperous future, where rural women can thrive and contribute to the overall development of their societies,” she said.
Need for financial inclusion
Despite significant progress made in financial inclusion, many women in Africa still face barriers to accessing formal financial services.
According to a report by the IMF, only 37 per cent of women in Sub-Saharan Africa have access to bank accounts, compared to 48 per cent of men.
Women face a myriad of challenges in accessing financial services across the region. Among these are a lack of women-focused financial products, difficulty in accessing credit, inadequate financial education, and limiting cultural and societal norms.
The gap between men and women in financial inclusion has large implications for the economic empowerment of women, which is essential for achieving sustainable economic growth and reducing poverty across Africa.
Earlier this year, Shecluded, a Nigerian financial wellness company, also run by Farida Yahya, had noted that inclusion is still a big challenge for most women owned businesses in the country.
Speaking at an event it organised to make this year’s International Women’s Day commemorated on the theme: “DigitAll innovation and technology for gender equality” Yahya stressed the importance of economic empowerment of women in the society, stated that they need to be supported to own their voice so as to contribute to issues affecting them, rather than someone else making decisions for them.
“Before women didn’t understand things like interest rates and couldn’t walk into a bank and have a conversation to discuss what they can get or have access to, but that has changed because the financial institutions themselves are creating gender desks and there is a lot of social consciousness on how your business can impact your community,” she explained.
“We at Shecluded create the space for women to meet and discuss where it pinches them and how we can support them to create financial space because we believe we can achieve more together.
“You can only help people when you understand what they need also we are using the opportunity to celebrate what we have achieved as women so far and to encourage more women to join our community,” she said.
Similarly, the CEO of Agro Link Care, Linda Ekweogu, while stressing the need for women to explore the gains of technology in boosting their businesses called for support and encouragement for women and girls to embrace technology noting that men dominate the tech world.
“We can’t continue to seat back and expect someone else to take care of our financial needs in this present day because technology has helped to bring the world to us. With your phone you have start up a business and with consistency you begin to make big money.
“Women need to challenge themselves to achieve feats in business because all you need is some awareness, and you learn more as you grow,” Ekweogu stated.
On her part, Loans Executive at Sterling Bank, Adedamola Daramola, expressed concerns that funds were available for women at financial institutions, but most women don’t go to assess it, basically because they do not have access to information.
“Women need orientation and reorientation; they need lots of information and sensitisation to be able to perform better in the society. This is the edge that men have because they always look out for opportunities and try out new ideas. Women rarely walk into any banks to demand loan for business.
“Yes, I know that a lot of people will use the conditions as an excuse but with proper information and if well organized one can manage a loan successfully without any problems,” she said.
Similarly, the CEO of Abuja Mums Vendor List Directory, Shayo Aladesanmi, stressed that the benefits of celebrating women, while also calling for their inclusion in politics and other leadership roles to enable them to contribute to development.
“I am a housewife for now, but I created a business for myself and it’s paying me while I still take care of the home front. Women are naturally good at multi-tasking and that is why more of them should occupy positions because they understand better how issues affect men and women differently and so will be able to lead for both sexes.
“I created a list of contacts and share available food items or household items depending on the order I get, and this is paying off.
“There are lots of working-class women who do not have much time to shop for items they need at home and all you need is to call me up or place your order on the chat box, make payments and we deliver your items at your doorstep.
“What has sustained the business is my ability to build trust on my products and also sell at affordable prices not too different from market prices just to cover for other miscellaneous and the greatest part is the fact that I get items supplied at convenient schedule when probably I have taken care of the home front and kids gone to school,” she stated.
