Orode Uduaghan, the former Senior Special Adviser to the Governor of Delta State on Small and Micro Enterprises, recently convened a financial empowerment program targeted at female breadwinners, single mothers, widowed, and divorced mothers.
About 300 women who qualified to be beneficiaries were in attendance at Koko, Delta State on the 15th of April. The program provides beneficiaries with access to loans with an interest rate of only 2.5% monthly and access to up to three million Naira without collateral. Beneficiaries also enjoy a savings product with target savings which provides access to a free hospital cash insurance policy and scholarship for a child.
To execute this, Orode collaborated with organisations that have been intentional about bridging the poverty gap and helping more women access the support they need. They include LAPO Microfinance Bank (LAPO MfB) and Wevvo Nigeria. LAPO MfB is a pro-women organization, which has sustainably helped women access micro-credit facilities and free social advocacy services in health, education, legal aids, and skills acquisition. Wevvo Nigeria is a community-based platform that supports female breadwinners across Nigeria, providing them with access to finance, capacity development, and a safe space to thrive.
According to Weyinmi Eribo, the founder of the Wevvo Foundation, these solutions were designed exclusively for female breadwinners in partnership with the LAPO Microfinance Bank.
Speaking at the event, Orode Uduaghan said “As we meet more women where they are, we grant more female breadwinners the financial freedom to improve their lives and livelihoods. Through this targeted collaboration with the Wevvo foundation and LAPO Microfinance bank, I am optimistic that the financial inclusion gap is positively impacted in Delta”. Orode Uduaghan has been a consistent advocate for improving the quality of life and increasing financial accessibility and literacy for women, and this has been evident through projects such as the Rubies Vocational School and Seeds Nigeria.
Lastly, Orode reminded all of the importance of financial inclusion for women. She stated that women represent up to 50% of the Nigerian population and deserve to be prioritized during socio-economic renovations. She expressed her gratitude to the event partners and all the attendees who are intentional about improving the financial prospects for their families and communities.