There is a special group of business women that I have always been interested in. Although largely unnoticed, they are selfless, hardworking and highly committed to what they do. They work day and night, under the sun and even under the rain to make ends meet. They equally pay their taxes and levies regularly. Several of them are single mothers and the responsibility of educating their children is solely on them. This group of women/mothers are the women who sell their wares in the open market in our communities.
These women need to be encouraged to be more effective in business. Based on this, we decided to educate the market women of Jakande 1st gate market in Lekki, Lagos, Nigeria on basic bookkeeping. Although it was drizzling, the women left their stalls in groups and gathered, the younger ones insisted on standing while the older ones including the “Iya Oloja” (The female market leader) sat to listen to the teaching.
The women were taught the importance of good record keeping in business and the role it plays in securing finance. They were shown practically how to record monies received and paid out in a simple cash book and how to use the information to ascertain the level of profit they make on an ongoing basis. Those of them who cannot write were encouraged to get their children to assist them pass entries into the cash book.
98% of the market women admitted that they did not know how much money came into their business on a daily, weekly and monthly basis due to no record keeping. What this implies is that they cannot determine if their business is doing well or not thus, they trade blindly. The women were therefore very receptive of the idea and asked intelligent questions which helped to expand their understanding on the use of the cash book. Free cash books and pens were distributed to the women thereafter.
The model of the “wemothers recycle fund” was also introduced to the women and we promised to do our best to raise funds in order to assist them with interest free micro credit.
I would like to thank the wemothers team for contributing to the success of the program. Some of you could not be present but you still gave your moral support and good wishes and this is well appreciated
God bless you all as we continue to inspire each other to greatness.