NEWS RELEASE
Teen Africa and Lola Announce Landmark Partnership to Empower Women Entrepreneurs in South East, Nigeria
[Isiagu, Ebonyi State, 27th October, 2023] — In a groundbreaking move to bolster the entrepreneurial spirit of underserved women in the South East region of Nigeria; Teenage Development for Africa Ltd/Gte (Teen Africa), a youth and women empowerment organization, and BaseAfrique (Lola), a prominent business support platform, are thrilled to announce the South East Community Empowerment Programme (SECEP), a strategic collaboration aimed at building and developing communities by empowering 2000 entrepreneurs and small business owners particularly women in underserved locations in the South East region of Nigeria. SECEP aims to uplift, mentor, and provide essential resources designed to enable beneficiaries carve a niche for themselves in their quest to improve livelihoods and create wealth in the rapidly growing Nigerian economy.
The programme will feature the deployment of a series of ‘’Lola Nomba mini’s’’, (Lola for short), a Fintech product and Point of Sale (POS) terminal designed for processing card payments at retail locations. Aside from significantly simplifying daily business tasks and making it easier and safer to manage retail businesses, Lola like other POS systems can also be revenue generating. Distributed in Nigeria by BaseAfrique, Lola is subsidized and can be easily acquired either by direct purchase or instalmental payment arrangements that spreads repayments across six months. Teen Africa, known for its dedication to nurturing young talent and fostering leadership skills, and Lola, a renowned platform that offers business development support, are combining their expertise to create a powerful ecosystem for women entrepreneurs and small business owners in South East, Nigeria. This partnership marks a significant step in fostering economic growth and social development by providing invaluable resources, mentorship, and opportunities to women-owned businesses in one of Nigeria's most vibrant and dynamic regions. Key components of the collaboration include:
Financial Inclusion: The collaboration aims to aid beneficiaries in underserved and rural locations, to have access to useful and affordable financial products and services that can help them build wealth, including savings, credit, loans, equity and insurance
Access to Technology: The collaboration aims to introduce beneficiaries to electronic based transactions with payment options for goods, services, and transfers.
Tailored training/ Mentorship and Coaching: A series of tailored virtual and physical training sessions will be conducted for beneficiaries looking to gain knowledge and skills on how to use the terminals. Teen Africa and Lola will provide experienced mentors and business coaches who will offer guidance on usage strategies, financial literacy, marketing, and other essential business aspects to assist beneficiaries navigate the complexities of growing and running their businesses with Point-Of-Sale terminals.
Networking Opportunities: A vibrant business network will be created to enable beneficiaries connect with peers, share experiences, and build essential business relationships.
Financial Literacy Workshops: Tailored sessions to help beneficiaries understand the nuances of finance, enabling them to make informed decisions for their ventures
With a shared vision to nurture the dreams and aspirations of women in business, both organizations recognize that supporting women entrepreneurs is not just about economic growth, but also about fostering community development, equality, and social change. This initiative is a testament to the shared commitment of both organizations to create opportunities for women to thrive in the business world and also underscores a commitment to gender equality and the empowerment of women in South East, Nigeria, as they play a pivotal role in driving economic growth and community development.
To celebrate this partnership, an inaugural event is scheduled for [27th October, 2023], where representatives from both organizations, as well as local businesswomen will gather to discuss the initiative's goals, potential impact, and the roadmap ahead.
Media and stakeholders are invited to attend this event. Further details will be shared in the coming weeks.
For press inquiries or additional information, please contact:
[Kobi Ikpo; Executive Director: This email address is being protected from spambots. You need JavaScript enabled to view it. +234-7056310848]
[Convenant Chukwudi; Country Director: This email address is being protected from spambots. You need JavaScript enabled to view it.+2348178383994
About Teen Africa: Teenage Development for Africa Ltd/Gte (Teen Africa) is a youth and women-focused organization dedicated to empowering and inspiring the next generation of leaders in Africa. Through mentorship, education, and skill-building programs, Teen Africa aims to unlock the potential of young Africans and equip them with the tools needed to make a positive impact in their communities and beyond.
About BaseAfrique: BaseAfrique (Lola) is a business support platform that provides valuable resources, training, and mentorship to small and medium-sized enterprises in Nigeria and is focused on using technology to improve the lives of people. The organization is committed to helping businesses succeed and thrive by offering access to financial support, strategic guidance, and market opportunities.
