Primlaks, others sign MoU to create wealth for grassroots women

Category: Business news Published on Sunday, 22 December 2013 05:00 Written by Temitayo Odunlami Hits: 168

Towards the realisation of its vision to improve 100 million lives by 2020, Primlaks has signed a Memorandum of Understanding (MoU) with Gems 4 and Fortis Microfinance Bank (FMB), which will create wealth opportunities for 129,000 indigent women in eight states across the country.

At its initial stage, the partnership hopes to impact the lives of 63,000 women entrepreneurs at grassroots locations that will include Kubwa, Maraba, Kuje, Kabusa, Gwagwalada and Abaji, all in the Federal Capital Territory.

Speaking at the MoU signing ceremony in Abuja over the weekend, the Executive Consulting Adviser to the Primlaks Group, Mr Piyush Nair, said that the partnership would create more women entrepreneurs at the grassroots level who can boldly reshape their circumstances by leveraging available opportunities.

“Our partnership will create an avenue to wealth for indigent business women, especially because it provides direct manufacturer-distributor interface as well as distributor-financier alignment,” he said. Nair added that, “The resultant cooperative scheme will enable women at the grassroots to access Primlaks’ diverse products.”

To commence the scheme, the women will be offered the company’s d.lightrange of solar powered lanterns which come in three models - S300, S20 and S1 - through the platform of the Fortis-Micro-Distributors Savings Account (MIDISA).

“In practical terms, this translates to better pricing, instalment payments, access to soft loans, pooling of resources through a cooperative system and training on sales techniques,” Nair said and stressed that the partnership would provide a platform for women, especially at the grassroots, to enjoy a better life and contribute towards building their homes and families.

The Group Chief Executive Officer of Primlaks, Mr. Ravi Hemnani further said explained the participation of Primlaks in the women empowerment project as in line with the company’s social objective of a positive return to society. “We are focused on food, shelter and light, essentials for better living and see many opportunities to partner with Fortis, FMTI, DFID- Gems 4 to educate, train and create jobs for women across Nigeria,” Hemnani said.