Lagos State, in collaboration with financial services companies Opay and Cowry Wise, is working to provide loans to indigent women traders to help boost their capital and integrate them into the state’s financial inclusion system. This initiative was announced by Dr. Oreoluwa Finnih-Awokoya, the Special Adviser to the Lagos State Governor on Sustainable Development Goals (SDGs), during a press conference.

According to Dr. Finnih-Awokoya, the initiative is part of her mandate to promote human capital development and eliminate financial exclusion in Lagos. To qualify for the loans, the women must possess a National Identification Number (NIN) and be registered with the Lagos State Resident Registration Agency (LASRRA).

“This collaboration highlights the private sector partnership approach of the SDG, and we welcome more institutions to join in this effort to promote human capital development, which is crucial for societal growth,” she stated.

Adedotun Adekunle, representing Opay, emphasized that their goal is to bring more people into the financial ecosystem, providing them with education and empowerment to successfully run businesses and improve their livelihoods. Oyeyinka Oyekan, a representative of Cowry Wise, highlighted that since 2017, the firm has focused on making savings and investments accessible to individuals, regardless of their background.