BCAI Iranwo Foundation post Covid-19 intervention
2020 seemed a very promising year until Covid-19 happened leading to the lock down which had put a halt to many day-to-day activities in 2020.
The lock down had a lot of significant effects on people worldwide in terms of finances and many other aspects of human life. Narrowing it down to Kano state in Nigeria, the Covid-19 lock down robbed many people especially women striving to make a living with their small businesses off their capital as they had to depend on their gain and even capital for survival. It was at this time that Iranwo came up with its post Covid-19 intervention program to minimize the effects in some selected states of which Kano was one and Bridge Connect Africa Initiative was partnered with to carry out this project in Kano.
This intervention came in the form of an interest-free micro loan which was given to 10 women in Rimin Kebbe, in Ungogo LGA, Kano state. The project was a huge success as the women did not only get to pay back their loans within 100 days but were able to revive their businesses through which they now support themselves in their daily living and their children in school.
Iranwo Foundation and BCAI supported 10 women with the sum of ₦200,000. Each woman received the sum of ₦20,000 which was paid back on weekly basis. Each woman was to payback ₦200 everyday for the period of 100 days and within the stipulated time, all loans were paid back free of interest and the women have their businesses working again. These women now fend for themselves financially and are supporting their children to go to school.