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Published On: Wed, Nov 13th, 2019

Purple Hands floats N4M revolving loan for FCT rural women

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By Stanley Onyekwere

Purple Hands Empowerment initiatives, an Abuja-based Non Governmental Organisation (NGO), has launched a N4m revolving loan scheme for rural women grouped into four cooperatives.
It was gathered that no fewer than 80 women in Igu community, a rural area in Bwari Area Council of the FCT.
According to the NGO, the women were sensitised, which qualified them to benefit from the revolving loan scheme of the organisation.
Speaking at the presentation of cheques to the beneficiaries in Abuja at the weekend, founder of the NGO, Brenda Max-Nduaguibe, explained that the loan scheme to the women is an interest-free, payable at the end of six weeks.
Nduaguibe, who is also the Chief executive officer of Purple Hands added that the women have been groomed and sensitized in cooperative governance and financial book keeping, which enables them take care of the money they receive from the organisation.
Explaining that the NGO started in 2016 was conceived by the need to support indigent women grow their businesses, urged well-meaning individuals and organisations to back her up, in the quest to reduce poverty especially among women and youth.
“The women are into cooperative socities and the loan is interest-free. When they are given N10, 000 they pay back in six weeks. So, in every meeting day they contribute certain amount of money.
“That is why we are partnering with Microfinance bank that will sit down with them and design the most convenient way for them to pay back.
“The initiative is to uplift women above poverty line through partnership and technical support to provide start up kits for them,” she stressed.
She stated that the organisation is also working towards taking the revolving loan scheme to other communities in the FCT to enable more rural women in the territory benefit from the scheme.
One of the beneficiaries from the community, Mrs. Ike Justina, said that herself and other members of her group have benefitted from the sensitization and training of the organisation, especially on how to manage businesses.
According to her, the revolving loan scheme would enable her and others to improve on their businesses that would help their immediate family, the Igu community and others.

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