BCAI-Iranwo Foundation Post COVID Micro Loan Intervention (2020)

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Location

Kano State

Beneficiaries

23 Beneficiaries

Donors

Self-Funded

Partners

Iranwo Foundation

BCAI-Iranwo Foundation Post COVID Micro Loan Intervention (2020)

The outbreak of COVID-19 in 2020 had a significant impact on people's lives, resulting in a global lockdown and halting many daily activities. The pandemic's effects were felt strongly in Kano state, Nigeria, where women running small businesses were particularly affected as they had to rely on their profits and capital for survival. To address the negative impact of the pandemic, Iranwo Foundation launched a post-COVID-19 intervention program in selected states, including Kano, in partnership with BCAI.

The intervention program took the form of interest-free micro-loans provided to 10 women in Rimin Kebbe, an urban slum in the Ungogo LGA of Kano state in Northern Nigeria. The beneficiaries’ businesses were negatively impacted by the lockdown response, leading to increased household burden and disruptions in local markets. These women used their saved-up capital to care for their families, leaving them even more vulnerable and disproportionately affected.

Iranwo Foundation and BCAI jointly supported these women with a total of ₦200,000, providing each woman with ₦20,000 as a loan, which they paid back weekly. The loan repayment plan required each woman to repay ₦200 daily for 100 days, and no interest was charged. All loans were repaid within the stipulated time.

The intervention program reached the Ungogo LGA and Rimin Kebbe communities benefiting a total of 23 people, with 21 females and 2 males. The micro-loans given to the 10 women have made a significant impact, enabling them to become financially independent and revive their businesses. These women can now support themselves and their families, including their children's education, which was previously challenging due to the pandemic's effects on their livelihoods.

"Before, some of us ate only once a day, and now you have brought this important intervention to us. We are thankful because this intervention will help us to feed our children properly and even send them to school”
Maryam Babangida (Cotton Seller)

The Iranwo Foundation and BCAI intervention program has helped to alleviate the negative impact of the pandemic on vulnerable women in Kano state. Through this program, these women can now lead a more financially stable life, providing for themselves and their families, and contributing to their communities' economic development.