In line with the present administration’s commitment to foster economic empowerment and reduce gender inequality across the state, the Lagos State Government, through the Office of Sustainable Development Goals, has announced the launch of an initiative aimed at promoting financial inclusion for women in underserved and hard-to-reach communities.
Speaking at the Press Briefing organised to announce the kick-off of the initiative, the Special Adviser to the Governor on Sustainable Development Goals, Dr. Oreoluwa Finnih explained that the project which is tagged: “Advocacy For Women’s Financial Inclusion in Hard-To-Reach Communities”, underscores the government’s readiness to bridge the financial inclusion gap, especially for women in communities that have gone underserved for years.
According to her, we recognise that women, particularly those in underserved and hard-to-reach communities, are the backbone of many families and, by extension, the driving force behind the socio-economic development of their communities.
These women face significant barriers in accessing the financial services needed to improve their lives and the well-being of their families. To break down these barriers, Dr. Finnih stated that the Office of SDGs with funding from Africa HCD Plus and collaboration with two private sector giants, Opay and Cowrywise, will be providing crucial financial literacy education required for these women to cope with the incentive provided by the State.
“Out of the 20 Local Government Areas in Lagos, about 14 are hard-to-reach communities and this makes up 10% of the state population. With the unrelenting support of UNICEF, we have conducted a need-based assessment and established the unique challenge of financial invisibility in these communities”, she affirmed.
The Special Adviser, who pointed out that financial independence for women is not just about economic empowerment but about human dignity, freedom of choice, and the ability to contribute meaningfully to society, stated that the Office along with the partners will ensure the impact and reach of the project is maximised.
She emphasised that the project is a shining example of how partnerships can drive meaningful progress, stating that the advocacy forms a significant aspect of the LightHouse Project and the overall mandate of the SDGs Office to ameliorate the living standards of the less privileged across the state.
“As a practical implementation of the Human Capital Development (HCD) programme at the grassroots level, the project will involve other principal partners such as the National Identity Management Commission (NIMC), the Lagos State Residents Registration Agency (LASRRA), and the Lagos State Health Management Agency (LASHMA) to ensure the beneficiaries are registered and captured in the financial system and are privy to prospective opportunities”, she maintained.
While applauding the commitment of partners and other stakeholders, Dr. Finnih said access to financial services, resources, and education for women will unlock economic opportunities and position them as key contributors to the state’s sustainable development agenda.
In his remark, the Chief Operating Officer, who also doubled as the Chief Technical Officer of Opay, Mr. Adedotun Adekunle affirmed the commitment of the financial institution to women’s empowerment, stating that identifying with the project gives credence to the company’s vision of supporting women’s socio-economic advancement, especially in rural communities.
He emphasised that through this initiative, Opay aims to facilitate financial access for women in underserved communities and to equip them with the necessary tools for long-term economic independence and sustainability.
Also speaking at the event, the Representative of Cowrywise, Mr. Oyeyinka Oyekan described the socio-economic intervention as a groundbreaking initiative, confirming that Cowrywise is proud to identify with the state government’s vision of creating an inclusive financial ecosystem where women can build successful enterprises, generate income and foster a cycle of sustainable growth.
He pledged the commitment of his organisation to engage beneficiaries in wealth creation, sustainable enterprise, and financial independence.
