Paxafricana

Tag: economy

  • Impact Assesment of EDEMCS Beneficiaries

    Impact Assesment of EDEMCS Beneficiaries

    Recently, some members of EDEMCS executives: Anna Aipokhio, Yinka Olayioye and Photographer Austin Obi visited the beneficiaries of the first phase of the business loan project of EDEMCS for an impact assessment on the farmers. The loan was given in January 2016

    The loan was given in January 2016 to empower the local women. The principles of participatory action research, which form the basis on which EDEMCS was founded, requires that any help given to the rural community should empower them towards sustainability and independence, rather than make them become perennially dependent on Aid. For ACIRD, we believe that aid should make people more independent and innovative, and inspire them to be creative entrepreneurs. In this report, we let the beneficiaries speak for themselves.

    MRS. IDIATA STELLA photo
    Mrs. Idiata Stella (Ehanlen – Ewu); Occupation: Poultry / Farming

     

    MRS IDIATA STELLA, is a 49 years old widow with five children. She is from Ehanlen community in Ewu kingdom.

    Question: What is your opinion of the loan support scheme?

    Stella: I thank EDEMCS for their loan support scheme. It is a very laudable project and I am happy to be among the first beneficiaries.

    Question: How and why were you selected as a beneficiary?

    Stella: I was nominated by the village elders based on their assessment of me as a serous-minded member of the community. They are aware of my challenges and struggles. They asked me to obtain the application form from EDEMCS, which I did.

    Question: What kind of business do you do?

    Stella: I am into livestock rearing and crop farming. I have been in this business for about five years now. I am into this kind of business because I love taking care of animals. Taking care of animals gives me the opportunity to monitor my farm.

    Question: How has the loan benefited your business?

    Stella: The loan given to me has helped to increase the number of goats from 8 to 25, and I was also able to increase the size of my tomato and cassava farm. Although the money was not enough but I was able to expand my farm and livestock.

    Question: Would you like to apply for more loan?

    Stella: I wish I can have more, I will willingly take if given. My advice to other women is that EDEMCS has come to help the community and the loan is very convenient to pay, especially as there is no interest.

    Mrs. Dauda Zuma Nusa Photo
    Mrs. Dauda Zuma Nusa (Eguare – Ewu); Occupation: Farming

    MRS. DAUDU ZUMA NUSA is from Eguare community in Ewu kingdom. She is a 60 years old Muslim married with five children.

    Question: What is your opinion of the loan support scheme?

    Daudu: I came across EDEMCS during its inauguration. I was selected by my village as one of the beneficiaries. I obtained the loan application form from the village representative, because the process of the loan system is convenient and the source of the funds is genuine.

    Question: What kind of business do you do?

    Daudu: I am into farming. I cultivate plantain and cassava. I am also into trading and the rearing of animals (sheep and goats). I used the loan to hire labourers for the farm, thereby increasing the portion of land I cultivate.

    Question: How has the loan benefited your business?

    Daudu: I am very happy because the loan helped me to expand my farm land from what I used to cultivate before and also expanded my business in agricultural produce.

    Question: What is your advice for other women?

    Daudu: My advice to other women is that the loan is very convenient and the payment conditions are very favourable. They should use the money for the purpose for which it is meant because in the village, integrity is also a capital.

    regina
    Mrs. Regina Aikhuele (Idunwele – Ewu); Occupation: Poultry

    REGINA AIKHUELE, 52, is from Idunwele community of Ewu. She is married with six children.

    Question: What kind of business do you do?

    Regina: I have been a poultry farmer for 25 years. It’s the kind of business I love doing.

    Question: How has the loan benefited your business?

    Regina: I am proud of EDEMCS. I was selected by my village as one of the beneficiaries. EDEMCS is genuine and because of their background, I believed in them. Through the loan given to me I have been able to expand my poultry business. As you can see, these are new set of chickens I have just bought and they are doing very well and there is great improvement in my business. I sold that last set of birds during the Christmas period. The only challenges am having now is that the cost of buying their feed has skyrocketed.

    Question: Would you like to apply for more loan?

    Regina: If another opportunity is given to me I willingly accept.

  • Empowering Local Women Through Microfinancing

    Empowering Local Women Through Microfinancing

    Since the inaugural meeting of EDEMCS (Ewu Development and Educational Multipurpose Co-operative Society) took place more than a year has passed. The organization has mastered many stages ranging from the official registration with Edo State, the cultivation of interest and trust in the village up to the engagement of the community.

    Fortunately, the King of Ewu, Father Anselm Adodo (OSB), the St. Benedict Monastery and Paxherbals enjoy a great amount of respect in the community, making it easier to align the interests of the local individuals. Hence, EDEMCS was able to tackle its first project: empowering local women through micro financing.

    It was agreed that women should be the focus of the first round of financing for various reasons: First and foremost, women in Ewu are more reliable when it comes to paying back loans and secondly it is important to nurture the process of emancipation in the community in order to start the transformation. In that sense, the stage was ready for the first act of financing.

    First Subvention for the Local Farmers

    microfinancing check presentationOn January, the 23rd  2016 on a hot dry-season day the local farmers, those that were selected by the EDEMCS committee, gathered at the palace of the King of Ewu. The purpose of this meeting was one of a positive nature: the first check in the young history of EDEMCS was presented to the local women on that day.

    The money was given out to 7 farmers, each representing one of the seven communities which compose the Ewu-Kingdom and each check was worth N50,000. An agreement was reached, that there should be two payments over the course of 12 months with an interest rate of 10%, culminating in N55,000. The 10% interest rate is unheard of in Nigeria since normal interest rates for micro financing banks start from 15% and go up to 25%.

    The local farmers are accompanied by EDEMCS throughout the whole process of cultivation. They are tutored in traditional farming techniques to ensure the survival and spread of indigenous knowledge. Frequent consultations by EDEMCS ensure that this first batch of financing is a successful one and only one of many more to come.

    The Next Step

    While the women are cultivating their first crops with the help of EDEMCS, the next round of financing is being negotiated with Sterling Bank, so that many other farmers can benefit in the foreseeable future.

    written by: Amadeus Stickl