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DUE to the outbreak of COVID-19 pandemic which has affected the livelihoods of families, Jose Foundation United Kingdom in partnership with Agency Alliance has disclosed plans to empower 500,000 women with Point of Sales (POS) terminals and capital to enable them start afresh.
President of the Foundation, Dr Martins Abhulimhen, explained in a statement that the scheme which is under the umbrella of Bank-in-Box Initiative would commence in Lagos and Kano States before spreading to other regions.
According to him, the empowerment programme is to promote financial inclusion among women in Nigeria, saying COVID-19 negatively impacted women across all sectors.
“It is a known fact that in the face of lockdowns, closed branches and social distancing, consumers are turning to digital finance. Women’s preparedness for financial inclusion has just received a boost with the entrance of Jose foundation into fintec powered by Agency Alliance Ltd in Nigeria. With the introduction of a new fintec innovative product called BANK-IN-BOX Initiative. The product will help drive financial inclusion among women in Africa,” he said.
Explaining that some features of the programme included ‘provision of Point of Sales terminal (POS), he added that it is good for access to working capital (Micro Credit Initiatives), capacity building, competitive commissions and extra income for the family.
“Women will also have access to working capital, earn attractive commission and enjoy extra income. Some of the advantages of the technology are that it will increase women participation in the economy and income from economic activities will enhance a shift in gender norms. As we make this digital tool available to the women community, financial inclusion drive is enhanced and expected to cover the entire country. The programme is to commence in Lagos and Kano states before extending to other states of the federation,” he said.