MoMo PSB Partners Ikoyi-Obalende LCDA to Empower 1000 Women Small-Scale Businesses with N50,000 Grant

As part of its commitment to supporting businesses in Nigeria, MoMo PSB partnered with the Ikoyi-Obalende Local Council Development Area (LCDA) on the disbursement of N50 million in grants to 1000 small businesswomen at the Empowering Her Fortune Initiative (EHF) 2.0 which held in Lagos.

This initiative, spearheaded by the Chairman, Ikoyi-Obalende LCDA, Hon. Fuad Atanda-Lawal, is aimed at equipping women-owned small businesses with the support and resources needed to scale their businesses and empower communities. Through its partnership with MoMo PSB, the businesswomen had their MoMo accounts credited with 50,000 each.

Speaking at the event, Chief Financial Officer, MoMo PSB, Omolara Michael-Nwadu, said “It is an honour for us at MoMo PSB to partner with the Ikoyi Obalende LCDA on this journey which reflects our commitment. At MoMo PSB, we are dedicated to supporting the growth and success of small and medium enterprises because we recognize that they are the foundation for economic growth in our communities and all over our nation”.

While acknowledging the support of MoMo PSB in his keynote address, the Commissioner for Youth and Social Development, Mobolaji Ogunlende, said, “I would like to thank MoMo for what you have done, being the Commissioner of Youth and Social Development and seeing what you have done here, I would also extend a hand to you as well to see how we can collaborate in the future.”

The initiative was also commended by the Chairman of Eket Local Government Area of Akwa Ibom State, Akaniyere Tommey Ikot, who emphasised the importance of financial inclusion for women’s empowerment. Atanda-Lawal, however, announced an additional N100 Million commitment to the project in December, aiming to alleviate economic hardship through grassroots support.

Established in May 2022, MoMo PSB, the fintech division of MTN, aimed at providing easy-to-use, accessible, and affordable financial services to new and existing customers.