The global payments network, Visa Inc. has entered into partnership with Cherie Blair Foundation for Women, First Bank of Nigeria (FBN) Plc and Youth for Technology Foundation (YTF) to provide women entrepreneurs with mobile technology solution to promote financial inclusion in Nigeria.
General Manager, Visa West Africa, Mr. Ade Ashaye, said that 2,500 women entrepreneurs will become agents in the retail network of FBN through the collaboration and that the agents will in turn bring branchless banking and mobile financial services to at least 75,000 Nigerians living in rural and underserved communities.
“Lack of access to financial services and capital are barriers for women entrepreneurs in the country. Empowering women by bridging this gap will translate to the empowerment of the country as a whole as women tend to invest a significant proportion of what they earn back into their families’ health and education, making a lasting difference.
“We believe access to financial services is essential for progress. Financial inclusion is a bridge that allows formerly isolated members of an economic system to join in and become contributing participants. Improving access to financial services and electronic payments is a critical building block to help more people improve their lives and lift themselves out of poverty,” Ashaye said.
He explained that the initiative is part of effort to help increase the financial awareness of more women in the society, adding that FBN will provide the women with training on the mobile banking products while YTF will provide capacity-building entrepreneurship training to help them gain comprehensive knowledge and information on subjects that are core to their development as entrepreneurs.
VAGUARD
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