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The Nassara Women Cooperative of Pampaida Ikara LGA of Kaduna state are the pride of the AFEX Input programme. They are so determined as a group of various women groups under one Cooperative called Nassara Women. They always endeavor to pay up on time and are very enthusiastic about farming. They are a symbol of how rural women can fight poverty, gain financial inclusion and support their families independent of government. As there name implies "Nassara" which means Victory or Success, they are indeed succeeding.
#AFEXBawasa
#NassaraWomen

Zanau, thanks for this good topic. Welcome on board!

This is a very good example of a Micro Credit scheme that can truly raise millions out of poverty. There is one I am aware of in Taraba State that gives very small loans to women. The loans are from the range of N20,000 - N50,000 and target very poor women. The very low interest on the loans go directly back into the pool to be made available for more women. The capital is via contributions from a select group of working class women who choose to give back to the society, so their contributions are kept in pool for these women access. The coordinator told me that the loan repayment rates are very good and the women themselves are made part of the scheme. It is very exciting to hear.

Such loan systems work, in my opinion because:
(i) They identify and target those truly in need, hence the money is put to work;
(ii) The loans are small and hence the risks are easily borne by these women;
(iii) There is NO red tape for accessing the loans (no forms, no delays, no "long story";
(iv) The recipients don't see it as free money as against government loans
(v) Because the loan is taken from a communal purse, recipients feel obligated to pay back and not let their colleagues down.
(v) Finally, I think rural women are honest and very hardworking

I would love to see hundreds of thousands of such cooperatives all over the country to really stimulate and help unleash the potential of these women. They rock!

zanau wrote: ↑Tue Jun 20, 2017 2:24 pm The Nassara Women Cooperative of Pampaida Ikara LGA of Kaduna state are the pride of the AFEX Input programme. They are so determined as a group of various women groups under one Cooperative called Nassara Women. They always endeavor to pay up on time and are very enthusiastic about farming. They are a symbol of how rural women can fight poverty, gain financial inclusion and support their families independent of government. As there name implies "Nassara" which means Victory or Success, they are indeed succeeding.
#AFEXBawasa
#NassaraWomen

Such is the way to go! I dont trust in big organizations running small loans for rural folks. The process gets muddled up in red tape and corruption.

Is there like a template for those wanting to start such a cooperative? Is there a regulatory body?

The only requirement is to get an organisation that is willing to finance your activities.