Increased microfinance access won’t empower women –Oputu

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Managing Director, Bank of Industry, Evelyn Oputu | credits: worldfolio.co.ukThe Managing Director, Bank of Industry, Dr. Evelyn Oputu, has said increased access to microfinance will not necessarily empower women.
She said this in Lagos while delivering a keynote address at the LAPO Microfinance Bank 2013 Conference, which had the theme, ‘Financial inclusion and female empowerment’.
Oputu, said for women to be empowered, fundamental or micro economic growth issues must be addressed.
“There are many issues that are fundamental that we need to address not just because of the environment. It is not just about the money,” she said.
According to her, it is one thing to have access to a variety of products, but it is another thing for the client to use them.
The BOI MD, who said financial inclusion was multi-dimensional, stressed that a lot had to be done to achieve financial inclusion for women.
She said the financial illiteracy level needed to be addressed as many women were currently incapable of using new technology meant to enhance their businesses and the process of accessing funds.
She added “If we do not break those vital and cultural norms that ensure that women are trapped no matter how much …

Source: The Punch – Nigeria’s Most Widely Read Newspaper

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