Updated: Jun 22, 2021
Out of 3.5million, women constitute 52% of the total Liberian population, with majority of them having been excluded from the formal financial services – for example, few have bank accounts, can access loans, money transfer services, etc. The rural women are more disadvantaged than their urban counterpart, they face many challenges such as high rate of unemployment, poverty and lack of business opportunities and skills relevant to the market needs. Breaking the cycle of poverty, unemployment and increasing business opportunities for women to participate fully and meaningfully in the economic landscape remain a challenge for Liberia.
The major constraint women in marginalized area face in order to generate income are lack of access to financial services
Access to financial services plays a critical role in helping the marginalized women widen their economic opportunities, increase their asset base, and diminish their vulnerability to external shocks. However, most formal financial institutions do not serve the marginalized women because of several challenges, notably: inadequate disbursement in rural part of country, low capacity building organize women, high transaction and information costs, high levels of unmitigated risks, lack of usable collaterals, weak contract enforcement and inadequate regulatory frameworks.
This situation does not only impoverished ordinary women but also dedicated christian women who are involved petite trade enable them put food on the table and send their children to school.
Mission of Mercy Outreach Inc is partnering with individual donors, institutions, and granters to provide affordable loans to these women. For more details about this project please contact our Regional Director Simeon Workar: firstname.lastname@example.org