In a bid to tackle financial exclusion and uplift small-scale women entrepreneurs, an online bank has empowered 1,500 women in Kaduna with access to vital financial tools, including free health insurance, debit cards, and business support services.
Speaking during the empowerment and financial literacy launch in Kaduna, the Head of Communication and Marketing at PalmPay Nigeria, Femi Hanson, said the programme was part of a broader effort by the fintech firm to empower women traders.
“We are here in Kaduna today to introduce a segment of our series programme called ‘Passing the Baton,’ empowering 1,500 women with financial literacy skills, one month of free insurance on the PalmPay app, a free debit card, and other tools required to help boost their businesses,” Hanson said.
“We want them to get access to free healthcare for that one month, and after the month ends, they can pay N500 for continued access. We are partnering with AXA Mansard, one of the leading insurance companies featured on the PalmPay app. We also expect them to have access to the regular financial amenities we provide.”
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According to him, PalmPay’s internal research revealed persistent gaps in financial literacy and inclusion, which informed the decision to bring the initiative directly to market women, many of whom remain unbanked or underbanked.
“Our findings show that while people are willing to adopt platforms like ours, there is still a high level of financial illiteracy. That is why we are here to create awareness and equip them with financial skills.”
He added that beyond healthcare, the beneficiaries would also have access to free money transfers and support in navigating the digital finance space.
Explaining the focus on women, Hanson said, “Women are the economic powerhouses. Once you support a woman, the benefits extend to the family and, by extension, the youth. That’s why we are starting with women, and from there, we will expand to other groups, including the youth segment.”
Meanwhile, the beneficiaries at the event expressed gratitude to the company for the empowerment initiatives, adding that the support would boost their business activities.
Some of the beneficiaries, including Mrs. Josephine Igwe and Daharatu Abdulkadir, commended PalmPay for supporting women during these tough economic times.