Baobab Nigeria is enhancing its commitment to financial inclusion by donating N5.5 million to support widows under 40 with their children’s school fees for the new academic year. This initiative, named the “School Fee Giveaway Project,” is a collaborative effort with the Patrick Stephen Purple Heart Foundation, a non-governmental organization led by a young widow and officially registered in February 2023.
Baobab Nigeria, a subsidiary of Baobab Group, focuses on providing financial services to micro, small, and medium-sized enterprises across Nigeria. The Acting Chief Executive Officer, Eric Ntumba, emphasized the significance of this initiative: “From offering micro-loans to small businesses and supporting women entrepreneurs to funding educational programs in underserved areas, Baobab is dedicated to making a meaningful impact.”
Ntumba added, “Education is a powerful tool for change. By financing school fees, we’re investing in these children’s futures and supporting their families and our community. Our aim is to extend this support to at least 2,000 widows under 40 by 2028.”
Oluwaseun Stephen, CEO of the Patrick Stephen Purple Heart Foundation, expressed her gratitude: “This support has made a significant difference for many widows within the foundation. Securing children’s education has become much easier, and I am incredibly thankful to Baobab Nigeria for their help.”
In addition to this initiative, Baobab Nigeria’s new savings app, Jollof+, has achieved a notable milestone, recording over N1.3 billion in savings just 64 days after its launch.
