LAPO Microfinance Bank Limited, (LAPO MfB) , a premium microfinance institution in sub-Sahara Africa partners with the Wevvo Nigeria, a non-governmental organization to provide support to female bread winners who are; Widows, Divorcees or Single Mothers (WDS)
Speaking the media , Ikponmwosa Cynthia , Managing Director, LAPO MfB reiterates “LAPO MfB is a pro-women organization , for over 30 years providing easy access to micro-credits to women and free social advocacy services: health, legal aids, skills acquisition and scholarships for clients children to bridge the poverty gaps in a sustainable manner. Today, over 1 trillion Naira has been disbursed in micro- credit to women in Nigeria.
Women and children are referred to as vulnerable, this partnership is an alignment of vision aimed at breaking barriers and bridging vulnerability by providing easy access to credit and social support systems to this “special” sets of women who are already breadwinners for their families in the society.
In the same light, Weyinmi Eribo, the founder and chief community builder of Wevvo Nigeria further reiterates “ this initiative is born out of the genuine passion to break the barriers that female breadwinners face and provide economic growth opportunities for these women to enable them compete favourably, be of more value to themselves, their families and communities” Wevvo Nigeria is a community based platform that supports female breadwinners across Nigeria with access to finance, capacity development and a safe space to thrive.
This initiative has birthed 2 unique financial products for female breadwinners. A loan product at 2.5% monthly interest and can access up to 3Million Naira without collateral, and a savings product with target savings which provides access to free hospital cash insurance policy and scholarship for a child.
This initiative will among other things provide; speedy and easy access to credit facilities for economically active female breadwinners across Nigeria; manpower and capacity development, business advisory services; and other social interventions.
To know more about the loan, and how to apply, send a DM to @wevvo.ng on Instagram.