Enterprise, Growth and Opportunities (EGO) Foundation, a dynamic and forward-thinking development organization committed to the alleviation of poverty and reduction of unemployment in African communities announces the sixth phase of its SheEnabled project in Surulere.
This initiative reflects EGO Foundation’s steadfast commitment to fostering economic empowerment and creating shared prosperity in communities around the world through enterprise development, technology education, skill enhancement, and strategic collaborations, with a primary emphasis on empowering women and youth.
SheEnabled, a flagship project of the EGO Foundation, is committed to empowering women through comprehensive financial inclusion and literacy initiatives. This transformative project, executed in collaboration with Access Bank and Worden HCD, addresses the intertwined challenges of poverty and gender inequality through robust training on financial inclusion and digital literacy.
The SheEnabled project reached over 1000 indigent women, predominantly small business owners, in Surulere. The project focused on crucial aspects such as financial inclusion, savings for investment, financial management, digital literacy, and free medical eye tests, providing a holistic approach to women’s empowerment.
In addition to the comprehensive training, EGO Foundation introduced a Community Loan Scheme specifically tailored for artisan clusters. This innovative scheme enables women to access revolving interest-free loans within their community, fostering financial independence and entrepreneurship.
Abiodun Olubitan, Group Head, Women Banking at Access Bank, spoke on the need for proper documentation amongst small businesses in order to aid access to funding. She stated that “Access Bank has many products that cater to the need of small businesses, but there is the need for adequate information and proper documentation to access these services”. She expressed the Bank’s undying commitment to supporting women at every level of their business growth and Career.
She added that “at Access, we understand the immeasurable role small businesses play in the economy of our country and that is why we remain committed to the growth of small businesses through various interventions”.
Mr, Ayodele Joshua, the Micro Enterprise Startup Officer at The Lagos State Employment Trust Fund (LSETF), speaking at the event noted that “small business owners often think that the requirement for getting support for their business is outrageous, however, this erroneous belief is due to a lack of information”. He further explained the numerous funding options the LSETF has made available to support small businesses and their growth, as well as the steps to access them.
Mr. Toluwase Olaniyan, Founder of EGO Foundation, expressed his enthusiasm for the project’s impact, stating that, “At EGO Foundation, we believe in creating opportunities that lead to sustainable growth. The SheEnabled project aligns with our vision to empower women economically and create positive change in communities.”
The Women Support group, established as part of the project, plays a crucial role in ensuring compliance with all interventions and aids in the disbursement and recovery of loans. This collaborative effort between EGO Foundation and the local artisan groups in Surulere underscores the organization’s commitment to creating lasting positive change.
The President of the Artisans Association, Mr Adesiji Abowaba stated that “as the president of the artisans in Surulere, I have witnessed firsthand the transformative power of the SheEnabled project during one of the previous interventions at Yaba. The initiative of the Community Loan Scheme will provide our members with the financial support they need to enhance their businesses and livelihoods. We are grateful to EGO Foundation for their commitment to our community.”
One of the beneficiaries, Etti Monsurat also noted that “the SheEnabled project definitely is a game-changer for me and many other women in Surulere. The training and financial support to be received through the Community Loan Scheme will empower us to take control of our financial futures. EGO Foundation has truly made a difference in our lives.”
Another beneficiary,Mrs Maria Ashaolu stated that “I never thought I could have access to interest-free loans to grow my small business because I have always tried to raise funds from banks, but I do not have the collateral needed to get loans. The SheEnabled project not only provided valuable training but also gave us the means to apply that knowledge in practical ways. I am grateful to EGO Foundation for this intervention.”
The impact of the SheEnabled project extends beyond individual empowerment to broader community development. EGO Foundation’s overarching goal is to ensure that the project establishes a foundation for sustained economic growth, job creation, and improved living standards in underserved communities.
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