The Integrated Social Development Centre (ISODEC) is supporting women engaged in farming, trading and other rural economic activities to strengthen their understanding and participation as shareholders in a Rural Bank.
The initiative is aimed at empowering women’s groups working with the BESSFA Rural Bank to effectively participate in the governance and decision-making processes of the financial institution.
The women’s groups are prospective shareholders of the bank and have expressed interest in ensuring that their collective interests are adequately represented in the governance of the institution.
As part of the initiative, ISODEC is planning to cede part of its shares to Village Savings and Loans Association (VSLA) groups under BESSFA. The shares are expected to provide the women with an opportunity to have a stronger voice in the affairs of the bank.
To facilitate this process, ISODEC, has engaged a consultant to conduct a two- day training programme for representatives of the various women’s groups. The training is intended to equip the representatives with the knowledge and skills required to act as a shareholding body and effectively manage the ceded shares on behalf of the women.
The training, currently underway in Nankpanduri in the North East Region is also expected to enhance the women’s understanding of shareholder responsibilities, corporate governance and the importance of collective representation in ensuring that their interests are considered in the operations and decision-making of the bank.
Through the intervention, ISODEC seeks to promote greater economic participation and strengthen the capacity of rural women to engage meaningfully in financial institutions that serve their communities.
The initiative further seeks to build the women’s basic financial literacy, record-keeping and documentation skills to enable them to understand key financial and operational information and effectively manage their shareholder activities. In addition, the programme will equip the women with the confidence and skills to participate meaningfully in Annual General Meetings and other shareholder engagements, while strengthening their knowledge of representative governance, ethical behaviour, trusteeship, negotiation, advocacy and communication.
Source: ISODEC Communications
