In order to reduce the burden of livelihood on widows and as well lessen the level of anti-social behaviours such as prostitution as a result of poverty in the society, Bayo Adelabu Foundation (BAF) in collaboration with Seedvest Micro Finance has empowered about 500 widows through an interest free loan.
The empowerment programme which was organized to commemorate Easter celebration was held at Bayo Adelabu Foundation office headquarters, located around Jericho area of Ibadan.
The event witnessed musical performance by popular Gospel artists such as Evangelist Bola Aare, Tope Alabi, Easter Igbekele and a host of others to ensure that beneficiaries and other invited guests enjoy the ‘mood’ of Easter festivities.
While speaking shortly after the presentation of cheques to beneficiaries, Founder, Bayo Adelabu Foundation and Agbaakin Parakoyi of Olubadan of Ibadan land, Chief Bayo Adelabu, explained that lack of access to finance to cater for so many responsibilities surrounding widows has been a major problem contributing to increase in the rate of poverty, which invariably is increasing anti-social behaviours among youths as a result of lack of parental care.
According to him, “from my own personal experience and at the level of our foundation, Bayo Adelabu Foundation (BAF), we believe that our widows are industrious and enterprising, what they need is a little encouragement in terms of access to finance. This is why Bayo Adelabu Foundation decided to assist them in conjunction with Seedvest Micro Finance Bank.”
In his response to what has been the motivating factor behind the programme, Bayo Adelabu noted that his growing up experience has been the factor behind the idea. He added that believing in the principle and ideology of assisting others is another factor responsible “when you are comfortable you should think of other people, you should think of your neighbours.”
A well-known Gospel artist, who has also been a widow for the past 22 years, Evangelist Bola Aare, while advising widows, urged them to be hard work and make use of every opportunity that comes their ways with the aim to give their lives some kind of meaning.
She emphasized that there are many widows whose children have become successful through the effort of their mothers. She enjoined them to be more committed and focused by giving more attention to teaching their children the true path of God.
Bola Aare commended Chief Adelabu for deeming it fit to empower widows at this period of recession in the country. She disclosed that she is not surprised by the development because the legacies of Adelabu Adegoke Penkelemesi cannot be overlooked.
Speaking on behalf of Seedvest Micro Finance, Mrs. Lola Akinjoko advised the beneficiaries to ensure proper monitoring of their businesses, adding that what is most paramount in business is to keep focus and understand what business is all about.
She implored them to imbibe the habit of saving with focus on improving and expanding their businesses.
The 15,000 naira interest free loan was for about 500 people and the beneficiaries are expected to pay back within three years at the rate of 500 naira monthly.
Packaged by Kunle Gazali
