The Rotary Club of Abuja Ministers Hill has launched an initiative to empower women in Jahi financial literacy skills through a Village Savings and Loan Association (VSLA) model.
The President of the Club, Rotarian Oro-ghene Adia during the empowerment said the program aims to equip women with the knowledge and tools necessary to manage their finances effectively, make informed decisions, and improve their economic stability.
Adia disclosed this at community economic development Project at Jahi 2, Abuja, tagged Savings For Growth: Women and Youth Economic Empowerment Project, said through the VSLA model, participants will learn how to save, borrow, and invest wisely, enabling them to build a more secure financial future.
According to him, the program also fosters a sense of community and cooperation among the women and men, providing a supportive environment for them to share experiences and advice.
He hinted that by empowering women and young men with financial literacy, the Rotary Club of Abuja Ministers Hill hopes to contribute to the economic development of the Jahi community and improve the overall well-being of its residents.
"The initiative is part of the club's ongoing efforts to promote service, leadership, and community engagement.
The president-elect of the Rotary Club Ministers Hill, Adams Oyarekhua, said the initiative aims to equip community members with skills in their specialized areas, such as tailoring, hairdressing, or mechanics.
"We'll provide training and financial support to help them launch their businesses, and routinely check in on their progress".
He informed, "our goal is to empower them to stand on their own, teaching them how to sustain their businesses rather than just providing temporary solutions.
"We're also introducing a Village Savings and Loan program, which will enable them to save and access funds for their businesses.
"This program will help them manage their finances effectively, save from their profits, and access loans when needed. By empowering these young entrepreneurs, we hope to create a lasting impact in the community."
Also, Rotarian Rabi Mohammed, President of RC Abuja Urban and President of Presidents of Rotary Clubs in the FCT praised the initiative, highlighting the importance of investing money to generate returns.
She explained that participants will benefit from their contributions, citing an example where a 2,000 Naira investment could yield 2,100 Naira.
"I believed this program is particularly beneficial for small traders who need modest investments to grow their businesses.
One of the participants in the economic empowerment training, Stella Eka, expressed gratitude to the Rotary Club for bringing such initiative to their community.
She noted that the training on savings and financial management, coupled with a startup token, will greatly benefit their small businesses.
Also, Sulaiman Sabo Muktal, a car painter and participant in the training, expressed appreciation for the opportunity to learn about savings and financial management.
He stated that going forward, he will take the training seriously, apply the knowledge to make more savings, and ultimately boost his business.
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