Following the economic hardship in the country, a non-governmental organization, Blue Hope and care foundation has provided seed grants to market women in Delta State.
The foundation through its cash revolving program which seeks to provide financial literacy, business skills, and interest free loan for women in rural communities, presented the sum of one million fifty thousand naira to beneficiaries in Asaba.
The State Focal person of the foundation, Onyeukwu Chiedozie while speaking stated that the Cash Revolving Program aims to “give them (women) a hope that has potential, give them a care they can resonate with”.
Chiedozie further said that the initiative is to bankroll the women, help them build capacity, separate their business account from their personal accounts, help them grow their business by setting them in a corporative society and training them on financial literacy by giving them a seed grant.
He emphasized that the aim of the foundation is to establish corporative groups for artisans and market women, Provide financial literacy training and business skills development, Offer zero – interest loans with flexible repayment options, Foster simple account and business record- keeping practices and Encourage sustainable business planning and growth.
“We are giving them a million fifty thousand, there are 21 women, we are giving them this money because we want them to grow. “We are going to give them tools, simple business recording tools, accounting tools, so that as they go to market and back they can put in their business ledger what they got.
He also disclosed that the women would not be empowered without monitoring, stating that “In three months’ time, we are going to evaluate them to know their progress, anyone that meets all the criteria will be rewarded an extra fifty thousand naira grant after evaluation,” Chiedozie stated.
Responding on behalf of the beneficiaries, Mrs. Palmer Augustina, a palm oil and crayfish seller, thanked the foundation for empowering petty traders and conveyed the beneficiaries’ assurances to use the funds received judiciously.
