Bank boosts financial inclusion, pays widows’ children’s school fees

As part of its drive towards supporting the financially excluded and unbanked communities, Baobab Nigeria has strengthened its commitment to financial sustainability by assisting widows facing difficulties in paying their children’s educational expenses.

This effort reflects Baobab’s mission to make a meaningful difference in vulnerable communities through financial inclusion. The initiative was carried out in partnership with the Patrick Stephen Purple Heart Foundation.

Through the “School Fee Giveaway Project”, the foundation reaches out to widows under 40 who need financial assistance for their children’s education.

The acting Chief Executive Officer, Baobab Nigeria, Eric Ntumba said: “This initiative is a testament to our ongoing efforts. From providing micro-loans to small businesses and supporting women entrepreneurs, to sponsoring educational programmes in underserved areas, Baobab is committed to making a meaningful difference.

“Education is a powerful tool for change. By financing school fees, we’re not just investing in these children’s futures but also in their families and our community. Our goal is to extend this support to at least 2,000 widows under 40 by 2028.”

Expressing her delight on the partnership, the Chief Executive Officer, Patrick Stephen Purple Heart Foundation, Oluwaseun Joan Stephen, who received N5.5 million for the School Fees Giveaway Project said: “This has changed everything for many widows in the foundation.

“A lot of children’s education has been secured, and I am very grateful to Baobab Nigeria. It has indeed taken a huge weight off many widows in the foundation.”