Poverty remains a developmental challenge in Nigeria. According to the World Poverty Clock, over 90 million Nigerians are living below the poverty line of less than $1.9 per day. The implication is that Nigeria is the country with the highest number of poor people in the world. Unemployment, underemployment and lack of capital are factors that contribute to the high level of poverty. Unfortunately, women are more affected than men because they have less education, fewer employment opportunities, lack properties, and are faced with sociocultural barriers.
At Emeraid Development Initiative, we believe that by empowering the women to achieve financial independence, we will eventually lift a whole generation out of poverty. Our strategy is to use the power of the Village Savings and Loan Association (VSLA) methodology to support rural women to grow out of poverty, build assets, increase income and reduce vulnerability. 5% of Emeraid annual surplus is earmarked to support rural women in the areas of access to finance, access to market, business development services, entrepreneur and financial literacy, among others. The project will allow low-income families to invest in enterprises, better nutrition, improved living conditions, and the health and education of their children.