Baobab Nigeria has reaffirmed its commitment to promoting financial inclusion by allocating N5.5 million to assist widows under 40 with their children’s school fees for the new academic year. This effort, called the “School Fee Giveaway Project,” is carried out in partnership with the Patrick Stephen Purple Heart Foundation, a non-profit organization led by a young widow and officially registered in February 2023.
As a subsidiary of Baobab Group, Baobab Nigeria focuses on providing financial services to micro, small, and medium-sized enterprises throughout Nigeria. Eric Ntumba, the Acting CEO of Baobab Nigeria, noted, “This project reflects our dedication to making a significant impact. From offering micro-loans to small businesses and supporting women entrepreneurs to funding educational initiatives in underserved areas, Baobab is committed to effecting meaningful change.”
Ntumba further highlighted that this initiative aligns with Baobab’s broader mission, stating, “Education is a catalyst for progress. By funding school fees, we’re investing in not just the future of these children but also their families and our community. We aim to extend this support to a minimum of 2,000 widows under 40 by 2028.”
Oluwaseun Stephen, CEO of the Patrick Stephen Purple Heart Foundation, expressed her thanks, saying, “This support has been transformative for many widows within our foundation. It has secured educational opportunities for numerous children, and I am profoundly grateful to Baobab Nigeria for their substantial assistance.”
Additionally, Baobab Nigeria’s new savings app, Jollof+, has achieved a notable milestone, accumulating over N1.3 billion in savings just 64 days after its launch.
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