Supporting Women Entrepreneurs through WFWP Nigeria Microcredit: Donation of Grinding Machines

By Didong Sunday

Implementation Date and Time:  04th October 2023 Project Venue: Okpoma, Yala – Cross River State, Nigeria  Participation Scope:  Aimed to support people of a lower socioeconomic background.  Objectives: To become economically independent and establish their own enterprise. WFWP – Nigeria on its Microcredit service, we provide very small loans to people who lack a steady income, collateral, or credit history, hence, often used to support entrepreneurship and poverty alleviation in our developing communities. 

This service was developed on the concept that people with skills and more entrepreneurial mindsets from impoverished communities that did not necessarily have access to financial services could benefit. We bought 24 power grinding machines to empower 24 women in a local community at Okpoma, Cross River State. Attached here, are pictures that commemorate the handing over of the machines to 24 women and the presentation of cash to start the business in their local communities. 

 Activity summary: The initiative to support women entrepreneurs through our WFWP – Nigeria microcredit scheme has been making significant progress. This program is designed to provide small loans to women who are looking to start or expand their own businesses, particularly in areas where access to traditional forms of finance is limited in rural communities. Over the past few months, there has been a noticeable increase in the number of women applying for and receiving microcredit loans. This is a positive indication of the growing awareness and acceptance of this form of financial support. 

The impact of these loans has been transformative for many recipients. Women have been able to launch new businesses, expand existing ones, and improve their living standards. The ripple effect of this is evident in their communities, where job creation and economic activity have been stimulated. Furthermore, the program has been successful in fostering a spirit of entrepreneurship among women. 

Many recipients have become role models in their communities, inspiring other women to follow in their footsteps. The WFWP - Nigeria microcredit program is playing a crucial role in empowering women entrepreneurs. The progress made so far is encouraging, and with continued support and investment, the impact of this program is huge.