Female-Focused Fintech, Herconomy, Introduces a New Way to Bank for Women

Mary Nnah

In its bid to reduce the number of women who are excluded from financial services, leading female-focused Fintech and Nigeria’s largest female-focused community, empowering women with the resources needed to succeed, save money and access opportunities, Herconomy, recently introduced,  a new way to bank for women, tagged, “Each Woman Bring One’ campaign”.

According to the 2021 Global Findex Report by World Bank, the percentage of women in Nigeria with financial accounts in any formal institution has increased from 24% to 35% over the last few years, the highest in 10 years.

However, the ‘Each Woman Bring One’ campaign takes into account that though 35% is still very low, the main push for this increase has been technology. The reality is that when women do not have access to bank accounts, they have no financial footprint, they cannot access credit, and they cannot make real financial decisions about their health, career, children and life in general.

Through a live demo of the Herconomy application by the Associate Product Manager, Opral Ogbuigwe, Herconomy’s products and services were summarised. These products and services include Vault, Float, Plans, Accountability Partners and Discounts; an array of products and services that can be assessed following an onboarding process in less than two minutes.

Additionally, Herconomy introduced its plans for World Savings Day 2022, which comes up on October 31st annually.

This year, Herconomy will host a hybrid event featuring sessions by the Manager, Advisory Services – Africa Women World’s Banking, Ara Sadiq; Founder, of Veronica’s Daughter Empire, Ella Ezeadilieje; Founder, LagosHouseWife, Rayo Ahenmokhai; Founder, FinTribe, Jennifer Chinenye AKA Financial Jennifer; President, Funke Felix-Adejumo Foundation, Rev. Funke Felix-Adejumo; Project Lead, Linka.ng, Dr. Noimot Balogun, and more notable women.

Speaking during a media parley recently, Herconomy Founder, Ife Durosinmi-Etti said the ‘Each Woman Bring One’ Campaign was Herconomy’s way of encouraging women to save as a community and access even more opportunities.

With a goal to financially empower 1 million women by 2025, Herconomy provides financial services, capacity-building, and other opportunities to a community of over 60,000 members, as well as connecting women with professionals and business leaders with exclusive resources.  

To be a part of the ‘Each Woman Bring One’ campaign, as the name implies, all you have to do is encourage another woman to begin her saving journey on the Herconomy app by impacting her with your personal saving story.

Speaking further on the ‘Each Woman Bring One’ Campaign, Ife Durosinmi-Etti stated that it is Herconomy’s way of “further working to reduce the number of women who are excluded from financial services. We have set an ambitious target of reaching 50,000 women and having them become active savers on our platform by December 2022.”