Empowering Market Women Initiative

Over the last few years and through our market engagement, we have seen that most industrious genders (market women) are currently not being empowered but rather their situation is like digging a hole while in the pit of poverty. 

These market women are like running from a frying pan to fire because most of those rendering financial services to them are only after their deposits and loan interest rather than the complete welfare of the market women that can empower them mentally, socially, financially, and healthwise.

In some instances, when the health of the market women suffers, the entire business collapses and nothing to fall back on as a result of lack of health and business insurance that provides covers for such uncertainty.

Across over four hundred and twenty-four (424) registered markets in Lagos State, Nigeria, 75% of the population is women with an average of less than US$500 total monthly turnover and over 97% currently being serviced by microfinance banks, commercial banks, and loan sharks whose priority is majorly not the potential of the market women's business or welfare but fund deposits and interest of loans.

The reality is an average market woman in Lagos has a relationship with a minimum of seven (7) financial institutions by using a loan from one institution to settle the other loan liability with another institution in an unending and unbreakable cycle of poverty.

The lack of awareness is also a major cause of the current gaps because the only concern is access to credit without understanding the implication of that access. 

In addition, technology has not been fully utilized to manage the operations of empowering the market women as many current operators are only used to manual operations through the hard cover ledger and paper work which is affecting the financial inclusion

Our Empowering Market Women Initiative is a gender-focused solution that will help to mitigate the challenges and create a better opportunity for the market women in Nigeria and the success can be replicated across all Africa Countries.

The value proposition from our proposed initiative will provide the following:

• A digital and automated platform for seamless onboarding and operations
• Avenue for wealth management through continuous daily savings
• Social empowerment through access to micro-loans at a single digit
• Social welfare through access to health and insurance services such as HMO and micro trade insurance cover
• Capacity development through information sharing of available opportunities to the advantage of women
• Social equity through the structure that will be created to deliver the initiative

We intend to pilot the initiative starting from Lagos State (Nigeria) which has 424 registered markets with close to a million market women who need our proposed value propositions

The Empowering Market Women Initiative is a gender-focused initiative that is tailored towards market women in recognized and registered markets across Nigeria starting from Lagos State.

Our solution will provide the following:

• A digital and automated platform for seamless onboarding and operations
• Avenue for wealth management through continuous daily savings
• Social empowerment through access to micro-loans at a single digit
• Social welfare through access to health and insurance services such as HMO and micro trade insurance cover
• Capacity development through information sharing of available opportunities to the advantage of women
• Social equity through the structure that will be created to deliver the initiative

AMBS Investment Partners Limited currently operates across markets in Lagos and it was from this engagement that we discovered the current market gaps that are affecting the productivity and welfare of the market women.

As part of the expansion plan, we intend to have a liaison office across all the markets providing a touch point for all market women to regularly check their health status and manage their daily savings through the digital platform

Each liaison office will be a solar-powered office supported by a registered and licensed medical auxiliary nurse and two (2) agents that will be processing the transactions for the market women.

With our proposed model, financial inclusion will be highly enhanced through the agency model approach and drive the process towards a better social inclusion

• Currently have over 301,500 customers
• Across 150 markets
• Leveraging digital platform for render services
• Processing over US$500,000 value of the transaction

Our unique value proposition has proved to be a seamless and enhanced approach in providing a new way to accurately assess the creditworthiness of MSMEs and individuals, especially the market women, including methods that reduce bias against borrowers who have traditionally lacked equitable access to credit.

Our platform created a community-based involvement that seeks the welfare of all community members in enhancing their saving culture through a more flexible and convenient way through digital agency banking and quicker access to credit without the huge burden of repayment and interest as the method is just as simple as your savings.

So, during the period of your loan, your saving culture continues and at the end of your repayment of the loan, you have more access to higher loans and an increase in your savings.

In addition, every member enjoy free Health Medical Insurance, Business and Personal Accident Insurance against any uncertainty

The value proposition from our proposed initiative will provide the following:

• Digital and seamless onboarding and operations
• Avenue for wealth management through continuous daily savings
• Social empowerment through access to micro-loans at a single digit
• Social welfare through access to health and insurance services such as HMO and micro trade insurance cover
• Capacity development through information sharing of available opportunities to the advantage of women
• Social equity through the structure that will be created to deliver the initiative 

• Establish across all the four hundred and twenty-four (424) registered markets across Lagos, Nigeria
• Replicate across other states in Nigeria
• Increase financial inclusion by a significant percentage 
• Reduce the loan burden on market women 
• Increase the welfare of the market women

• Market Activation
• Customer onboarding
• Total amount of saved fund
• Number of loan applicants 
• The total amount of loan processed 

The main reason why this solution will have an impact is because the gap currently exists and our solution is gender-focused with additional value-added that increase the welfare of the market women and promote their productivity through empowerment from awareness and access to credit

A digital banking platform that provides service and access to digital services to cooperatives, thrift, mini-banks, and businesses. It also automated the onboarding and operations seamlessly 

We encourage diversity, equity, and inclusivity in our organization

The Saving Product Features 

• Daily contribution
• Daily saving culture
• Notification of balance through SMS
• Access to contribution withdrawal
• Social inclusion
• Economic empowerment opportunities (i.e. access to Loan)
• Access to Business Insurance
• Access to HMO

The Loan Product Features 

• Continuous daily contribution
• Quick access to loan (when your contribution is 50% of the requested loan)
• Single digit loan
• Repayment spread like contribution
• Flexible loan tenure
• Provision of life insurance cover (i.e. Credit Life)
• Opportunity for higher loans on completion of current loan
• Uninterrupted access to withdrawal of your contribution

We are considering sustained donations, grants and service income

We currently are making reasonable service income but not sufficient to scale especially since we are focusing on the market women with additional free benefits such as the health medical plan, business and personal insurance