empowering women through financial literacy

gloria ahemma addison
Posted March 22, 2019 from Ghana

Women become empowered and feel secured when they are financially sound without depending on men for their daily living. To be financially secured one needs to be financially literate. Most women in Ghana are petty traders who sells anything that is available for them. To expand their businesses, they take loans from micro finance companies and instead of their businesses expanding, their businesses rather decline. the question is why is it so, the loan agreement they sign they do not understand the clauses in the loan agreement forms and some of the agents rely on that to cheat them. What my team and I do is to educate these women of their obligations as per the loans they are contracting and explain all the clauses in the loan agreement form for them to understand and also, it's effect on their business before they engage in them.  We also, educate them on how to invest in mutual funds and register for the third tier pensions. we also run financial literacy programs for the women groups. for the past two years since we started, a lot of the women have now being able to save and invested which have help them improve their businesses by ploughing back their savings into their businesses. we do all this at our own expense and our motivation is the smiles on the faces of these women and who are making it to help their communities. A financial literate will do more than a financial illiterate with the same amount of cash.

 

Comments 9

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Jill Langhus
Mar 22
Mar 22

Hi Gloria,

Thanks for sharing your inspiring post, and I totally agree with you. I'm very grateful for all the work you're doing to empower and educate women about becoming more financially literate. I hope you're able to expand your reach more, and more, to empower even more women. Please tell us what your organization's name is, and also if you have a website and any social page(s) to follow.

Hope you're having a great day, and keep up the good work!

Hello, Gloria,

You are changing women’s lives by introducing financial literacy. I commend you for that. I agree that women are more empowered when they are no longer depende to men.

Thank you for sharing!

Kirthi
Mar 23
Mar 23

Thank you for writing your powerful story, dear Sister!

Keep up the good work, you are indeed bringing changes...

Keep up the good work, you are indeed bringing changes...

Akshaya9
Mar 24
Mar 24

Keep up the good work. Your right in teaching women to be educate in terms of taking loan so that nobody can cheat them.

brenda jiri
Apr 05
Apr 05

Nice Gloria

Jacqueline Namutaawe

Hey Gloria great work on empowering women through financial literacy. It is true the money lenders and institutions always rob women of their little hard earned assets that they use as collateral when signing the loan agreements which they do not even understand the implications to them. Great work keep going stronger.

Feka
Jun 27
Jun 27

Lots of courage in what you are doing. Women need this because it's important for them to be financially independent. Thanks for sharing

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