Empowering Women Through Financial Inclusion: The "Each Woman Bring One" Campaign by Herconomy

In a world where financial empowerment is crucial for personal and community growth, Herconomy stands out as a beacon of hope for women in Nigeria. Founded with the mission to reduce the number of women excluded from financial services, Herconomy has emerged as Nigeria’s largest female-focused community. The organization is dedicated to equipping women with the resources they need to succeed, save money, and access opportunities. Recently, they launched the "Each Woman Bring One" campaign, a transformative initiative aimed at enhancing financial inclusion among women.

The Financial Landscape for Women in Nigeria

According to the 2021 Global Findex Report by the World Bank, the percentage of women in Nigeria with financial accounts in formal institutions has risen from 24% to 35% over the past few years. While this increase is commendable, it still highlights a significant gap in financial inclusion. The reality is stark: without access to bank accounts, women lack a financial footprint, which limits their ability to access credit and make informed decisions regarding their health, careers, and families.

The "Each Woman Bring One" campaign recognizes that technology has played a pivotal role in this increase. However, it also emphasizes the need for further action to ensure that more women can participate in the financial ecosystem.

Herconomy’s Innovative Offerings

During a recent live demonstration of the Herconomy application, Associate Product Manager Opral Ogbuigwe showcased the platform’s diverse products and services. These include:

• Vault: A secure savings feature that allows users to set aside funds for future needs.
• Float: A flexible financial tool designed to help women manage their cash flow effectively.
• Plans: Tailored financial plans that cater to individual goals and aspirations.
• Accountability Partners: A unique feature that connects users with peers for mutual support and motivation.
• Discounts: Exclusive offers that help women save money while accessing essential services.

The onboarding process for these services is impressively quick, taking less than two minutes, making it accessible for women from all walks of life.

Celebrating World Savings Day 2022

In line with its commitment to financial literacy, Herconomy has exciting plans for World Savings Day 2022, celebrated annually on October 31st. This year, the organization will host a hybrid event featuring influential speakers from various sectors. Notable figures include:

• Ara Sadiq: Manager of Advisory Services at Africa Women World’s Banking.
• Ella Ezeadilieje: Founder of Veronica’s Daughter Empire.
• Rayo Ahenmokhai: Founder of LagosHouseWife.
• Jennifer Chinenye: Known as Financial Jennifer and founder of FinTribe.
• Rev. Funke Felix-Adejumo: President of the Funke Felix-Adejumo Foundation.
• Dr. Noimot Balogun: Project Lead at Linka.ng.

These sessions will provide invaluable insights and strategies for women looking to enhance their financial literacy and empowerment.

The Vision Behind "Each Woman Bring One"

Speaking at a recent media parley, Herconomy Founder Ife Durosinmi-Etti articulated the essence of the "Each Woman Bring One" campaign. It is designed to foster a sense of community among women, encouraging them to save collectively and access greater opportunities. The campaign invites women to share their personal saving stories, thereby inspiring others to embark on their financial journeys.

With an ambitious goal of financially empowering one million women by 2025, Herconomy is committed to providing financial services, capacity-building, and networking opportunities to its community of over 60,000 members. The organization connects women with professionals and business leaders, offering exclusive resources that can help them thrive.

Joining the Movement

To participate in the "Each Woman Bring One" campaign, women are encouraged to invite another woman to start her saving journey on the Herconomy app. This simple act of sharing personal experiences can create a ripple effect, leading to a more financially inclusive society.

Ife Durosinmi-Etti emphasized that the campaign is a proactive step towards reducing the number of women excluded from financial services. With a target of reaching 50,000 active savers on their platform by December 2022, Herconomy is poised to make a significant impact in the lives of women across Nigeria.

Through initiatives like the "Each Woman Bring One" campaign, Herconomy is not just changing the narrative around women’s financial inclusion; it is empowering a generation of women to take control of their financial futures.