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 13

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Jill Langhus
Mar 22, 2019
Mar 22, 2019

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!

gloria ahemma addison
Oct 07, 2019
Oct 07, 2019

thanks Jill, hope you are doing great. the name of the Organization is "The Virtuous Pot'' we will be launching our websit in November, and also formally launch the organization the same time to have more volunteersof professionals, we are now teaming up with the chamber of commerce and industry in Ghana to do more capacity training with their members. thanks for your words of encouragement, it is our wish to empower every Ghanaian woman with financial literacy, where they will be able to manage their debts and also have a secure and sound pension.

Jill Langhus
Oct 07, 2019
Oct 07, 2019

You're welcome, dear!

I'm doing well. It's great to hear from you!

That sounds like a great goal and mission:-)

Let us know when your website and/or social media pages are up so we can follow them!

XX

Karen Quiñones-Axalan
Mar 22, 2019
Mar 22, 2019

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!

gloria ahemma addison
Oct 07, 2019
Oct 07, 2019

thanks dear

Karen Quiñones-Axalan
Oct 08, 2019
Oct 08, 2019

You're welcome, sis.

Kirthi Jayakumar
Mar 23, 2019
Mar 23, 2019

Thank you for writing your powerful story, dear Sister!

Nnenna Hannah okoh-Metu
Mar 23, 2019
Mar 23, 2019

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

Nnenna Hannah okoh-Metu
Mar 23, 2019
Mar 23, 2019

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

Akshaya9
Mar 24, 2019
Mar 24, 2019

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, 2019
Apr 05, 2019

Nice Gloria

Jacqueline Namutaawe
Jun 07, 2019
Jun 07, 2019

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, 2019
Jun 27, 2019

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