Key points
- Fidelity Bank Plc and the You Matter Foundation donated N40 million in cash grants to 400 market women in Delta State.
- An additional 100 women received 50 sewing machines and 50 grinding machines as part of an empowerment package.
- The 500 beneficiaries were selected from all 25 Local Government Areas of the state.
- The initiative was funded through the Fidelity Helping Hands Programme (FHHP) and the Give Her Power (GHP) initiative.
- Delta Governor’s wife, Mrs Tobore Oborevwori, matched the bank’s N20 million donation with an additional N20 million to increase individual grants.
Main Story
Fidelity Bank Plc, in partnership with the You Matter Foundation, a pet project of the Wife of the Delta Governor, Mrs Tobore Oborevwori donated N40 million to 400 market women in Delta State.
Another set of women received 50 sewing machines and 50 grinding machines. The 500 beneficiaries were selected from the 25 Local Government Areas of the state.
The gesture formed part of the bank’s Corporate Social Responsibility under the Fidelity Helping Hands Programme (FHHP) and Give Her Power (GHP) initiative.
Dr Nneka Onyeali-Ikpe, the bank’s Managing Director/CEO, represented by Mrs Pamela Shodipo, described the initiative as part of the bank’s women-focused proposition, “HerFidelity.”
The bank’s staff in Delta raised N10 million, which was matched by management to reach N20 million. Mrs Oborevwori then added another N20 million, ensuring 400 beneficiaries received N100,000 each instead of the initial N50,000. Onyeali-Ikpe stated that the GHP initiative is rooted in the belief that empowerment must be practical and sustainable.
The governor’s wife encouraged the women to treat the donations as a “seed” to be nurtured into something greater. Regional Bank Head Mrs Augusta Anyanwu-Egbom advised the women to explore the bank’s small and micro enterprises hub to develop a savings culture and grow their businesses.
The Issues
- Ensuring the sustainability of micro-businesses requires more than one-time grants; beneficiaries need ongoing access to credit and financial literacy training.
- The logistics of distributing heavy equipment like grinding and sewing machines across all 25 LGAs involves significant transport and setup challenges for the recipients.
- Inflationary pressures in the economy may affect the purchasing power of the N100,000 grants, making efficient business scaling critical for the market women.
What’s Being Said
- “The FHHP is a corporate social responsibility platform through which our staff across business locations identify projects that address real needs in their immediate communities, raise funds to support those projects,” said Dr Nneka Onyeali-Ikpe.
- “At least, 400 beneficiaries will receive cash grants, totalling N20 million, 50 women will receive grinding machines, while another 50 women will receive sewing machines. On my part, I am adding an additional N20 million,” stated Mrs Tobore Oborevwori.
- “This means that 400 women will go home with N100,000 each, instead of the initial N50,000,” the governor’s wife added.
- “When women are empowered economically, the benefits extend beyond the individual to families, small businesses and the wider community,” Onyeali-Ikpe noted.
What’s Next
- Beneficiaries are expected to begin utilizing the sewing and grinding machines to provide services within their respective communities.
- Fidelity Bank’s SME hub will engage with the 500 women to provide further guidance on business growth and savings strategies.
- The You Matter Foundation will likely monitor the progress of the “seeds” planted by these grants as part of its ongoing social welfare assessments in Delta State.
Bottom Line
By combining staff-led fundraising with executive matching and government foundation support, Fidelity Bank has provided a N40 million capital injection and industrial equipment to bolster the micro-economies of women across all 25 LGAs in Delta State.
