Celebrating women is an important gesture that should be encouraged globally but empowering them is cardinal. I have always believed that empowering women is more than a kind gesture by governments and civil society organizations, it is an essential component for progress and socio-economic development. By empowering women, we create a ripple effect that impacts every aspect of society, leading to positive outcomes in various areas.
When we launched Mezo Cares, our Corporate Social Responsibility project, we were convinced by the data we had collected internally over the years that betting on creating meaningful opportunities for women wasn’t a gamble. It was and remains an investment. And so instead of giving out gifts or making kind donations to women in our community, we have done three things: partner with a reputable organization to provide training and mentoring to several young women. Provide tools and support systems to improve their productivity and a grant to help them set up their businesses.
The question often asked by naysayers is how exactly does empowering women add value to society. I will explain. Before launching the gas distribution arm of our company, Mezovest started out giving out small loans to businesses and offering business solutions driven by technology. The data was clear: women were three times more likely than their male counterparts to access loans and were more than two times more likely to repay. And it wasn’t only that they were repaying these loans, it was the fact that they were expanding their businesses.
Aisha Akanbi took an N50,000-naira loan in 2019 to start a ‘zobo’ drink business. From her interaction with the account officer, she would start with producing and marketing 30 bottles a day. She paid back the loan in three months and took a higher loan, this time N100,000. She paid back again and secured an N200,000 facility all the while remaining diligent. Today, she has grown to own her restaurant and employs more than half a dozen people in her small business. All we did was bet on Aisha with the first N50,000 and today, she paying more than that amount in salaries alone.
This is exactly what happens when we empower women. These women create value, expand it, and open the door of opportunities to other women. Although we no longer give loans to small businesses, I’m constantly inspired by Aisha’s story and how offering a simple opportunity can create so much impact in various communities. But what we are doing now is even bigger. We are launching a gas retail franchise program where we will select about a thousand women across the country over the next few years, deliver world-class business management training, and empower them with the tools and resources to set up a gas retail business and become part of a larger ecosystem that offers constant support and mentorship. This initiative will lift at least a thousand women into middle-class status over the next five years.
As we already know, supporting women and creating a level playing field in the workplace leads to increased productivity and innovative solutions, ultimately benefiting the overall economy. We also know that empowered women are more likely to make informed decisions about the health and well-being of themselves and their children leading to overall improved health outcomes. Most importantly, when we get more women to participate in politics and governance, it always leads to a more just and equitable society.
I conclude that we must never view women’s empowerment as an act of charity: it is a fundamental necessity for building a thriving and sustainable society. When we invest in empowering women, we unlock a wealth of untapped talent, potential, and opportunities that benefit everyone. As we celebrate International Women’s Day, let us commit to leaving no woman behind.
