Women of Wisdom (WOW), an inter-denominational ministry dedicated to empowering women, has gifted N50, 000 to 10 vulnerable women to boost their businesses.
Mrs. Temidayo Adeyanju, the WOW Administrator, said during the distribution in Lagos on Wednesday that the women were selected based on vulnerability and need.
The News Agency of Nigeria (NAN) reports that WOW provides mentorship through scriptural teachings, mental and physical development programmes, charitable initiatives, empowerment activities, and guidance in women’s health and homemaking.
Adeyanju said that the ministry was focused on supporting traders and artisans.
”Since inception, WOW has empowered 50 women with micro-credit to expand and sustain their businesses.
”The ministry has the mission to foster a deeper connection with God through prayer,” he said.
The administrator said that the repayment terms were structured to be flexible to accommodate the financial situations of the participants.
”The repayment plan is a three-month installment with the added benefit of a one-month moratorium period.
“The initiative is interest-free, emphasising support for women’s financial independence.
”The programme is designed to revolve around the fact that as one set of beneficiaries finishes the repayment process, another set of 10 women will automatically qualify for the next batch of loans.
“The empowerment project specifically aims to achieve economic independence for women by providing them with the means to expand their businesses,” she explained.
According to her, the focus is on supporting women in the Mushin community to engage in trade and artisanal work such as tailoring and hairdressing.
Adeyanju noted that the overall goal was to uplift women economically to enable them to contribute meaningfully to their families and communities.
She urged the beneficiaries to manage their finances wisely, reinvest in their businesses, and seek continuous self-improvement.
The project is funded by Global Affairs, Canada, under the Women Voices and Leadership Project, Nigeria.
It is facilitated by ActionAid Nigeria, which started an interest-free micro-credit programme for vulnerable female traders and artisans under the Lagos State Council of Tradesmen and Artisans (LASCOTA) Association, Mushin, in 2021.(NAN)
