Empowering Local Women Through Microfinancing |

Impact

Empowering Local Women Through Microfinancing

Posted on February 29, 2016 Categories: EDEMCS 5
edemcs: rural women empowerment

Since the inaugural meeting of EDEMCS (Ewu Development and Educational Multipurpose Co-operative Society) took place more than a year has passed. The organization has mastered many stages ranging from the official registration with Edo State, the cultivation of interest and trust in the village up to the engagement of the community.

Fortunately, the King of Ewu, Father Anselm Adodo (OSB), the St. Benedict Monastery and Paxherbals enjoy a great amount of respect in the community, making it easier to align the interests of the local individuals. Hence, EDEMCS was able to tackle its first project: empowering local women through micro financing.

It was agreed that women should be the focus of the first round of financing for various reasons: First and foremost, women in Ewu are more reliable when it comes to paying back loans and secondly it is important to nurture the process of emancipation in the community in order to start the transformation. In that sense, the stage was ready for the first act of financing.

First Subvention for the Local Farmers

microfinancing check presentationOn January, the 23rd  2016 on a hot dry-season day the local farmers, those that were selected by the EDEMCS committee, gathered at the palace of the King of Ewu. The purpose of this meeting was one of a positive nature: the first check in the young history of EDEMCS was presented to the local women on that day.

The money was given out to 7 farmers, each representing one of the seven communities which compose the Ewu-Kingdom and each check was worth N50,000. An agreement was reached, that there should be two payments over the course of 12 months with an interest rate of 10%, culminating in N55,000. The 10% interest rate is unheard of in Nigeria since normal interest rates for micro financing banks start from 15% and go up to 25%.

The local farmers are accompanied by EDEMCS throughout the whole process of cultivation. They are tutored in traditional farming techniques to ensure the survival and spread of indigenous knowledge. Frequent consultations by EDEMCS ensure that this first batch of financing is a successful one and only one of many more to come.

The Next Step

While the women are cultivating their first crops with the help of EDEMCS, the next round of financing is being negotiated with Sterling Bank, so that many other farmers can benefit in the foreseeable future.

written by: Amadeus Stickl

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Comments(5)

  1. Sr Scholastica B says
    March 2, 2016 at 5:46 pm

    This is a very good idea to empower our women especially in our rural eviron. I hope very soon this empowerment will extend to other part of the country. May power to your elbow.

  2. Gabriel Ayemere says
    March 10, 2016 at 7:58 pm

    EDEMCS: Empowerment Of Local Women And Its Effect On our Children’s Education

    The Ewu Development and Educational Multi-Purpose Co-operative Society Program, organized by Pax Africana, is truly a wise step in aiding nation Building. Women are pivotal to nation building and the driving force in many homes; essentially because they do all that it takes to ensure proper planning at home which is the bed-rock of the family institution. It is amazing how they invest in the overall well being of their children, who in turn, decide the destiny of any nation. This exploit is indeed challenging to all and sundry, which is why Readers Resort Initiative of Africa fully identifies herself with EDEMCS in this laudable project that is humanitarian driven and wishes to recommend that other agencies follow this order.

    The gender inequality challenge is a societal menace that the government is determined to eradicate, calling on various institutions to join in the fight against the wide gap and the neglect of the woman gender in our society. And it is highly commendable therefore, that EDEMCS has set up such a monumental project to better the lots of women in this community. To the people of Ewu this is good news and hope arising.

    Until now, our society merely enjoys the acts of talking about problems and doing nothing about them, but the Ewu Development And Educational Multi-Purpose Society has impressed by showing resilience positively with the goodwill shown to the impoverished women of Ewu. Which is why, Readers Resort Initiative of Africa wishes that they remain steadfast to this vision and possibly, expand their horizon to other frontiers. This is because EDEMCS, if expanded, it truly has the capacity to affect every community positively and consequently capture the bigger picture of national development. This no doubt brings an opportunity for a better and brighter future, since women are the anchor focus. It therefore means that not only will children attend good schools, have better care and general attention, they will also be given the opportunity to get exposed to westernization.

    With women, it is fascinating to note that the right norms and societal values will be instilled in our children who will make the bulk of leadership crop of the next generation and therefore, put Nigeria in a good light in the international map.

    The Secret in re-branding Nigeria and achieving economic advancement is not far fetch, rather it is tied to empowering the women gender in every way possible, because women are referred to as the mother of every nation.

    Long Live Nigeria
    Long Live Africa
    Long Live EDEMCS
    Long Live Readers Resort Initiative of Africa

    GABRIEL JOHN AYEMELE
    PIONEER: READERS RESORT INITIATIVE OF AFRICA

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