Entrepreneurship in Focus
Women Entrepreneurs and Mobile Value Added Services
Impact: Impact: Impact: “If you just sit back and think ‘I know it all, why am I reading all these text messages?’ you will just be on the same level every week, every month, every year. But when you read the text messages and put them into practice, you sky rocket!” – Ijeoma, entrepreneur
Partners: MasterCard, Cherie Blair Foundation for Women
We provided financial skills and business capability training and mobile business resources for 2,214 women entrepreneurs in four industries and in 12 different states across Nigeria.
Entrepreneurship is the greatest source and hope for sustainable employment and income generation. Between 2010 and 2013, entrepreneurial businesses more than doubled from 16.1 million to 37.1 million in Nigeria. Entrepreneurial businesses make up 96 percent of all businesses in Nigeria and contribute 49 percent to its GDP.
Although rates of female financial inclusion have grown from 26 percent to 34 percent, male financial inclusion increased at higher rates (from 33 percent to 54 percent)—furthering gender disparities. Females have lost their presence in main industries due to many more men gaining positions in employment than they or beginning businesses. The need for gender equity and capacity building for women entrepreneurs continues.
Since the 2012 launch of Nigerian Women Entrepreneurs and Mobile Value Added Services , YTF has implemented over 1,200 financial skills and business capabilities workshops training 10,823 women entrepreneurs who created approximately 1,050 jobs, began 180 new businesses within the first six months after participation, expanded 450 businesses within the first six months, and generated $6.2 million in new revenue.Read more
Mobile Financial Services for Women
YTF Commitment: financial inclusion, business capabilities, entrepreneurship, integration of technology, and use of new mobile business strategies that lead to increased income, new sources of revenue, and long-lasting benefits to entire families.
Impact: Impact: “The agent banking business is increasing my customer base and my overall sales. People are coming from everywhere to bank with me.” – Rachel, mobile banking agent
YTF believes that no woman should be left unbanked. In 2015, we trained 2,314 women to be mobile banking agents.
Of the 64 percent of Nigerians who are unbanked, 73 percent of those are women. Proximity to a banking institution is the main reason cited as to why so many Africans continue to remain unbanked. Nigeria has a 92 percent mobile phone ownership rate—the same rate as the U.S. Mobile banking agents enable remote access to financial services.
YTF invests in young people and invests in their mothers—the women in the community are the economic pillar in the societies YTF serves. Women, in turn, invest 90 percent of their income in their family’s education, health, and well-being. By adding a mobile branchless banking agent and mobile financial services to their existing businesses, these women entrepreneurs seamlessly enter the rapidly-growing mobile money sector and, in turn, reach thousands of other women with mobile financial services.Read more
Agriculture: Agricultural Platform Offering Women Empowerment Resources (Agric-P.O.W.E.R.)
YTF Commitment: intentionally developing woman-to-woman farmer distribution networks while employing youth as agricultural information workers.
Impact: Mama Ida generated enough income for all of her children to stay in school.
Partner: Ashoka Innovators for the Public
We helped 315 women farmers in Uganda generate enough income to keep their children in school.Read more