Herconomy recently unveiled a new way for women to bank under the banner of the “Each Woman Bring One” campaign in an effort to lessen the number of women who are excluded from financial services. Herconomy is a leading female-focused Fintech and Nigeria’s largest female-focused community.
The number of women in Nigeria who have bank accounts in any formal institution has climbed from 24% to 35% during the past several years, according to the 2021 Global Findex Report by the World Bank, the highest number in ten years.
Although 35% is still a relatively low number, the “Each Woman Bring One” campaign recognizes that technology has been the primary driver of this increase even though it is still quite low.
The truth is that women who lack access to bank accounts lack a financial footprint, are unable to obtain credit, and are unable to make informed financial decisions regarding their general well-being, careers, families, and other aspects of their lives.
The Associate Product Manager, Opral Ogbuigwe, gave a live demonstration of the Herconomy application and summarized the company’s offerings. These products and services, which range in variety and can be evaluated in less than two minutes after an onboarding procedure, include Vault, Float, Plans, Accountability Partners, and Discounts.
Herconomy also unveiled their plans for World Savings Day 2022, which occurs on October 31 every year.
The founder of Veronica’s Daughter Empire, Ella Ezeadilieje; Rayo Ahenmokhai; Jennifer Chinenye AKA Financial Jennifer; Ara Sadiq, Manager, Advisory Services – Africa Women World’s Banking; Rev. Funke Felix-Adejumo, President, Funke Felix-Adejumo Foundation; Dr. Noimot Balogun, Project Lead, Linka.ng; and other notable women will speak at this year’s hybrid event
Ife Durosinmi-Etti, the founder of Herconomy, said the “Each Woman Bring One” Campaign was Herconomy’s way of empowering women to save collectively and have access to greater opportunities.
Herconomy connects women with professionals and business leaders, and offers financial services, capacity-building opportunities, and other chances to a community of over 60,000 members with the aim of financially empowering 1 million women by 2025.
As the campaign’s name suggests, all you have to do to participate is inspire another woman to start using the Herconomy app for saving by sharing your own saving adventure with her.
Ife Durosinmi-Etti elaborated on the “Each Woman Bring One” Campaign by saying that it is Herconomy’s approach of “further working to reduce the number of women who are excluded from financial services. We have set an ambitious target of reaching 50,000 women and having them become active savers on our platform by December 2022.”