Mamamoni (Empowering low-income rural and urban slum women)
Impact of your enterprise on sustainable development
We have empowered almost 4000 poor rural and urban slum women with different vocational skills to help them generate livelihood income so they can feed and educate their children, we have also helped them with easy access to loans. 90% of women trained have started their businesses, we have 98% payback on loans. Most of the women trained now have; 1. Increased household income. 2. livelihood skills. 3. Access to finance. 4. Financial literacy. Due to our interventions communities are being transformed and cycles of poverty broken.
Sustainability and future plans
We generate revenue through interest on loans and sales of our Innovative Business Toolkit for low-income women. our web platform www.mamamoni.org enables Socially Conscious individuals or organizations lend poor women capital to do business, by doing this they are helping these low-income women break barriers in accessing finance and helping us reach more women who needs access to funds to loans.
Your profile as an entrepreneur
I am founder of Mamamoni a #SocialEnterprise that empowers low-income women in rural and urban slum areas with free vocational skills and provides access to finance for them. I am passionate about uplifting poor women from poverty, I started this Social Enterprise due to the experience I had as child living with a widowed mother that had no skills and finance to start a business, going to school and feeding was a major challenge for us as a family, because my mother had no skills to help her generate income, due to this I had to hawk in major streets in Lagos, I had to become a house-help to enable me generate funds to pay for my exams, also because of the high level of poor women I saw in my community, all this led to my founding Mamamoni. I don't want other women and children to experience what my mother and her children experienced because the male breadwinner of the family is late or lacks capacity to care for his family. I am Tony Elumelu Entrepreneurship Programme Alumna, a Pioneer cohort member of the President Obama Young African Leaders Initiative Network Regional Leadership Center, Accra, Ghana and LEAP Africa Social Innovator.