Back to MICROLENDING

When the GCJ delegation was in Oporoza in 2005, several of us had the opportunity to meet with a group of community women. They spoke eloquently of the needs in their villages. From this meeting, a sub-group of delegates, American and Nigerian, began exploring the idea of establishing a microcredit program as a way to spur economic development in the area.

A few of us committed to initiate the project and provide seed funding. Through research, we learned about the dramatic success of microlending around the world, especially with women’s groups. We believe a program like this could provide the revenue to make a significant dent in the local poverty level, by helping the women to choose appropriate businesses and develop the skills to market and operate them successfully. And we believe the empowerment that comes through this process will have enduring value beyond the financial impact.

We wanted to create a program that:

• Empowers women locally so that they can be advocates for themselves, their families and their community.
• Helps reduce poverty among women in the Niger Delta through enterprise development and microcredit.
• Gives the best chance for success of the women’s businesses by providing “entrepreneurial empowerment,” including training, peer support and ongoing assistance.
• Is sustainable and scalable.

We knew we needed an experienced local partner to administer the program. Through extensive research, we identified appropriate candidates and evaluated their proposals. We chose Erikpo Community Bank, based in Warri, with extensive, successful microlending experience in the Oporoza area. Their approach is well thought out, encouraging women to build community as well as businesses – emphasizing empowerment and responsibility. Before disbursing loans, they offer in-depth training in bookkeeping, marketing, business and leadership development.

The program has begun, and will include loans to 60 women per year over the next two years. It’s especially exciting to be kicking off this project the year the Nobel Peace Prize was awarded to microcredit pioneer Muhammad Yunus and the Grameen Bank he founded.