Empower 300 women entrepreneurs in rural Nigeria

In September 2024, the fourth (4th) phase of our Women MicroCredit Programme (WMP); an initiative empowering rural women entrepreneurs by giving them access to interest-free small-scale loans and financial literacy and business management skills training since 2021 commenced across two communities; Kuchingoro and Jahi. 283 new rural women entrepreneurs were enrolled into the program, trained on financial literacy and business management skills, and then given small-scale interest-free loans ranging from 25,000 and 100,000 ($25 to $100) for their businesses to be paid back over a period of six (6) months after an initial grace period of seven (7) weeks. 

Before enrolment into the program, a needs assessment is carried out in the communities to assess the needs of its small-scale women entrepreneurs' needs and select program beneficiaries. During enrolment into the program, our beneficiaries are paired into groups, that serve as peer support for the women to foster accountability and solidarity among program beneficiaries. 

Since program inception in 2021, we’ve successfully empowered over 500 direct and 2000 indirect beneficiaries across the program’s four (4) phases and have recorded a 98.58% loan repayment rate. Our beneficiaries have also reported business growth, increased savings, reduced debt, and increased ability to provide support for their families, emphasizing the importance of providing affordable finance to rural women entrepreneurs for inclusive economic development. 

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Thank you! 

Rahina,
For: The ACE Team