FinLiteCore, a social enterprise, has trained a group of women entrepreneurs in Ajegunle community of Lagos State on financial skills vital to scale their businesses and curb poverty.
This initiative is part of the organisation’s pilot programme focused on offering tailored financial training to the target group, along with providing grants in the form of productive assets.
According to Enitan Kuku-Omonijo, executive director of FinLiteCore, this project is based on the belief that women have the latent power to overcome poverty when given the opportunity to harness their entrepreneurial potential. She also emphasised that this project has the potential to change the course of poverty for these women, benefiting not only themselves but also their families and communities.
Kuku-Omonijo explained that the project aimed to create an inclusive society where entrepreneurs, regardless of their gender or background, can access opportunities for upward economic mobility.
This two-pronged approach equips women with the tools they need to start or expand micro-businesses, thereby giving them financial independence and the promise of a brighter future.
Lizzy Edwards, the Director of Operations, stressed the importance of FinLiteCore’s holistic approach. She said: “Poverty is a critical issue globally, and the numbers of people living in extreme poverty have been slow to decrease. By focusing on women who face the greatest economic disparities and vulnerabilities, our approach provides a clear path to sustainable livelihoods and economic resilience.”
The idea of financial empowerment for women in low-income communities is not just a lofty goal but an achievable reality.
FinLiteCore is dedicated to making this vision a reality, as attested by the women beneficiaries in Ajegunle. The tailored financial training is crucial in building their financial skills and confidence, enabling them to make informed financial decisions, a vital need in low-income communities.
In addition to training, FinLiteCore provides grants in the form of productive assets instead of cash. This practical support, including equipment, tools, or inventory, eliminates barriers to entry for these women and sets them up for success in running sustainable micro-businesses. This support is instrumental in helping these aspiring entrepreneurs turn their dreams into reality.