Digital financial institution MoniePoint Inc. has made significant strides in empowering female entrepreneurs and individuals living with disabilities by successfully training 100 participants in essential financial skills. Announced on a recent Sunday, this initiative aims to bolster financial literacy and strengthen the security of online businesses. Targeting owners of small and micro-enterprises, the program specifically addresses the urgent need for financial education and digital security, equipping business owners with vital insights into various aspects such as financial planning, budgeting, cybersecurity, and safe online payment practices.
Organized in collaboration with ACIOE Associates and Tech4Dev, MoniePoint’s two-day intensive workshop took place in Abuja and brought together over 100 participants. The initiative not only focused on providing practical knowledge and skills through interactive sessions but also stressed the importance of gender inclusion. By emphasizing financial literacy and cyber hygiene, the program serves as a crucial tool to empower vulnerable groups, particularly women, who often face barriers to accessing financial resources and online business opportunities. Through this approach, MoniePoint aims to create a more inclusive environment for entrepreneurial pursuits.
The necessity of such training programs is underscored by the persistent low levels of financial literacy seen in many parts of the world, especially in Nigeria. This lack of education can obstruct economic development and financial inclusion. Research has consistently shown that improved financial literacy correlates with enhanced access to essential financial services, formal savings, and overall economic advancement. MoniePoint Inc.’s initiative aligns with global trends indicating that financial literacy is not merely an individual necessity but rather a cornerstone for broader economic progress.
By increasing financial literacy among women, the program aspires to empower them to make informed financial decisions, access essential financial services, and ultimately build wealth. This focus on economic empowerment is not only beneficial for individual participants but also contributes to the ongoing pursuit of gender equality. The initiative resonates deeply with MoniePoint’s mission, as the Group CEO, Tosin Eniolorunda, emphasized the critical nature of financial literacy in achieving social and economic inclusion, particularly for women. His statements highlighted the role of educated women in harnessing their financial capabilities to foster their entrepreneurial ambitions and contribute significantly to economic growth.
Eniolorunda’s emphasis on financial literacy being crucial for social and economic inclusion is echoed in the broader context of Nigeria’s economy, where businesses are vital for growth, development, and job creation. He pointed out the challenges faced by the informal sector, where many businesses struggle to survive beyond five years. Against this backdrop, the initiative serves as a proactive measure to ensure the longevity and success of small enterprises, recommending that boosting financial literacy among entrepreneurs can be a strategic solution to fostering a healthier economic environment.
In conclusion, MoniePoint Inc.’s recent training initiative for female entrepreneurs and individuals with disabilities marks a significant step forward in addressing critical gaps in financial education and security in Nigeria. By equipping participants with the necessary skills to navigate the complexities of financial management and online business operations, the program aims to promote economic empowerment and gender equality. Furthermore, the collaboration between MoniePoint, ACIOE Associates, and Tech4Dev illustrates a combined commitment to enhancing financial literacy and inclusion, ultimately contributing to Nigeria’s socio-economic aspirations and the global dialogue surrounding the importance of financial education for all.
