ByEsther Eghobamien-MsheliaUN CEDAW Member & Convener Women Arise Development & Humanitarian Initiative – WADHI

Digital Financial Inclusion To Improve Women’s Livelihoods And Enterprise

@ theWTO Connectivity and DigitalSkills Development Workshop

5th February 2019, b W-Room, WTO Office, Geneva, Switzerland

Deployed as technology solution to help both literate and illiterate women MSMEs in urban and rural settings better manage financial records digitally, thereby creating trackable and authentic records to enable scale-up, market

access and expanded trade opportunities

Almost half of the Nigerian population is female (49.2%

specifically) yet this significant stakeholder group remains

vastly underprivileged and face different forms of legal, social,

cultural and economic challenges

Background & Context

Women access less than 12% of credit facilities in the financial sector.

26.5 million women are excluded from digital financial solution and commerce

65% of women live below the poverty line

Women in nigeria contend With stiff barriers and are often locked out of economic opportunities eVident in loWer access to critical productiVe resources like land, capital, markets …..

42.6% of women had access to formal financial services compared to 54.5% of men as at 2014

• Empirically, women save more

• Are more likely to repay credit

• Spend more on their families

• Are more cautious and prudent so very likely to succeed in entrepreneurship

Increasing access to finance for women is

therefore not just good for them, but for the

entire economy

Background & Context contd.

Boosting financial inclusion for women is imperative due to the strong multiplier effect that occurs when they

are empowered

• Women are important economic power-block that remains largely untapped

• Gender inequality violates women’s rights in the CEDAW context and correlates with negative GDP growth

• Women’s inclusion can catalyse digital economic growth

Source: EFInA Access to Financial Services survey

• Easy to use• Fully customizable• Cutting edge designs

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Women’s Economic

disempowerment and

disproportionate access to financial, trade and market

access opportunities

Integrating women into the digital economy is key to sustainable national growth

Key Gender Issues & Concerns

Gender imbalance in

implementation of SDGs and other global/

regional commitments

(AU 2063)

Inadequate implementation

and accountability to

CEDAW and Buenos Aires

Declaration on Gender and

Trade and other global gender

frameworks and policies

Implementation gaps in

sectoral/policy efforts – finance,

trade and technology as it

relates to women

Addressing Financial Exclusion

and Bridging Digital

Gender Gaps

KOWGO – A hybrid Nigerian word for money in the three

major languages & Mobile Technology tool.

To expand financial opportunities, bridge digital divide and optimize

women’s entrepreneurial capacities and trade opportunities for inclusive

economic growth through technology.

Facilitating flexible and customised financial inclusion services, platforms & management systems that financially empowers women & boost businesses

Implementing CEDAW Articles and General Recommendations on Women’s Economic Rights and SDGs

WADHI Digital Connectivity Experience- NigeriaA humanitarian group committed to finding practical solutions to inequalities, social exclusion and dis-

empowerment established in 2013– WADI – Yoruba word meaning Inquire

010203

Provide a Mobile Application which ensures that a significant number of women become ‘financially literate’ about a gamut/range of financial products, trade and services.

Utilize digital technology (mobile phones and HHDs) to stimulate financial planning, money & business management, transactions, payments, savings, credit and insurance.Significantly improve formal financial inclusiveness and women’s engagement in digital economy through skills development

01

Objectives01

0506

04 Increase financial literacy and awareness of financial options for saving, borrowing and mitigating risks (insurance) amongst women

Provide opportunities, training and skills development to assist female-owned or led businesses access finance, markets and trading opportunities to scale-up

Bridge the gender digital gap through increased participation of women and youth in the formal financial market

Our Approach/Strategy is Four-pronged▪ Solution has 4 integrated components with specific initiatives

targeted at achieving the programme objectives as follows:

• Women’s Incubation Programme and unique in-road initiatives

• Infrastructure and Funding Support in key sectors and value chains

• Financial technology solution “Kowgo”

• Sensitization and awareness creation drive/ workshops

Increase Awareness

Create Access

Deepen Knowledge

Enable Scale

SENSITIZATION WORKSHOPS/ AWARENESS DRIVE-Lessons informed development of modules and services

Financial inclusion sensitisation workshops, awareness drive and training to give women practical hands-on experience, advice and confidence needed to be more digitally

compliant, make better informed financial decisions and migrate to formal financial management platforms

Key Objectives Use Mobile App to extend

financial literacy lessons in English and 4 other Nigerian Languages -“Hausa, Igbo, Pidgin and Yoruba”

Provide digital/technology solution via “Financial Management Function” that helps women MSMEs manage finances, keep records and evaluate business health

Generate financial records to facilitate tracking and aid loan access, repayment and recovery

ModulesSeven carefully crafted modules to provide Financial Literacy at three levels vizBeginner , Intermediate and Advanced covering the underlisted topics:1. Money2. Banks and Financial

Institutions3. Personal Finance

Management4. Entrepreneurship5. Business Financing6. Insurance 7. Ecommerce

The “Kowgo

” App Features

Details Amount (N 000)

Total sales for the day/week

Credit Sales

Total cash sales for the day/week

Expenditure (different categories)

Profit

Cash Banked/Thrift Saving

Unbanked Cash at hand

Others

Business/Financial Report

Results to date

Intel-BRCK Tablet available for rural digital

training

02Indigenous and innovative

technology Solution: Kowgoavailable for download on google

play store

01Participatory Development &

Trials successfully run with support from Intel BRCK Tablets

03

Pilot scheme to sign up 3000 women (from 3 states) on Kowgo platform commenced with Bank of Industry

(BoI) under the GEEP Social Investment Programme

05

Over 200 women trained on digital financial literacy and

business management

04Proposed use of Kowgo to drive

digital financial inclusion to reach 500,000 women under

discussion with Central Bank of Nigeria (CBN)

06

Growing network of Kowgo Users07

Promote implementation of Buenos Aires Gender and Trade

Declaration in Nigeria to engender national trade policy.

Deployment of KowgoTrading platform to

address gender trade barriers, enhance market

access and boost women’s trade capacity.

Available opportunities for partnership through a contextual, country-specific digital gender and trade project riding on the achievements of the Kowgo App

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02

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Opportunities and Prospects

Next StepsKey priority Actions

Roll out Kowgo for IoS and OS users

Roll out “KOWGO” at global platform to mobilize use as techno solution to women’s financial inclusion, trade and market access in collaboration with partners (Intel, BoI, Oracle, GSMA, ICC,CBN, WTO etc)

Explore partnership scope, new frontiers and modalities deepen CSR support and consolidate Implementation Drive

Agree partnership Arrangementsand formalized work methods (MoU)

We look forward to the opportunity of working with you to help achieve the Kowgo objective of increased financial

inclusion and digital connectivity for the empowerment of women in Nigeria and beyond through CSR , Public

Private Partnerships, User Fees, Grants, Social Media Marketing, Trading Platforms and Facilitation Services,

Commodity Funding, Training and Skills Development, Ad revenue etc.

www.kowgo.wadhi.org.ng info@wadhi.org.ngTel: +234-818-558-2600;

+234-704-667-3333; +234-812-561-4572