The Women Empowerment Project (WE Project) empowers women with the skills and capital to develop and increase valuable livelihood activities that improve their overall financial wellbeing and socio-economic empowerment.
WealthyGen establishes sustainable livelihood activities for widows who are struggling to feed their children and fight poverty after the loss of their husbands. In many countries, these widows face a lot of abusive practices. Sometimes, they face degrading and life-threatening burial rites. Most times, they lose their properties and other inheritance. Some are associated with witchcraft, stigmatized, and even ostracized. These are some of the major barriers these poor widows face in their socio-economic empowerment.
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The Problem
Our Financial Literacy Program promotes financial literacy awareness and teaches women how to make the most of their money by making, managing, and growing it. The program focuses on the basic principles of money, which includes: Earn more, save more, invest smartly, spend wisely, borrow bravely, and give happily.
To successfully apply the money principles, WealthyGen teaches its signature AGALEC Strategy to empower people with no financial background to build wealth from the scratch while encouraging those that are financially aware on going the extra mile to surpass their financial goals.
The Solution
WealthyGen provides better life for these widows by establishing sustainable livelihood activities for them. The WE Project has four components:
Financial Literacy: At the core of our WE Project is enhancing the financial literacy skills of the beneficiaries to increase their financial capability in knowing and understanding how to use financial services and make informed financial choices.
Financial Inclusion and Support Fund: In collaboration with local financial institutions, WealthyGen assists the participants to choose and open a savings account and assess any other financial products that meet their needs. WealthyGen also provides support fund, which is deposited into the account for them to begin to practice their financial literacy skills of using financial services and managing their money. This support fund also puts food on the tables of these widows and their children for the first one month to allow the business to take off successfully.
Enterprise Development: WealthyGen supports the participants with financial capital necessary to develop and increase valuable livelihood activities that will improve their overall financial wellbeing and economic empowerment. Building upon the financial support, beneficiaries would be equipped with money management skills to properly use the capital efficiently and grow their businesses.
Potential Long-term Impact
When we empower a woman, she is better able to support and empower her family, give her kids sound education, and break the cycle of poverty. The WE Project benefits the women, their children, their entire families, and the society at large.