Nigerian fintech company PalmPay has intensified efforts to deepen financial inclusion in Northern Nigeria by empowering more than 2,000 women entrepreneurs across Kaduna and Kano states through financial literacy and digital banking initiatives.
According to the company, the initiative was carried out in major commercial hubs including Sabon Gari Market in Kano and the Central Market in Kaduna, targeting women traders operating within the informal sector.
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PalmPay disclosed that the programme focused on equipping female entrepreneurs with practical financial management knowledge, digital payment tools, and access to formal financial services aimed at improving business sustainability and financial independence.
As part of the outreach, participants received training on budgeting, profit calculation, inventory management, cash flow monitoring, and digital transaction systems. The fintech company also introduced many traders to PalmPay POS terminals and instant payment notification solutions to reduce risks associated with cash transactions.
The company noted that millions of women across Nigeria still remain financially excluded despite their active role in grassroots commerce. Data from EFInA’s Access to Financial Services survey revealed that about 30 percent of Nigerian women remain excluded from formal and informal financial systems.
PalmPay stated that the intervention is part of its broader strategy to expand financial inclusion and strengthen economic participation among underserved communities in Northern Nigeria.
The initiative also received support from the Emir of Kano, Muhammadu Sanusi II, who endorsed the programme and encouraged stakeholders to support digital economic inclusion across the region.
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What You Need To Know
- PalmPay’s initiative targeted women traders in Kano and Kaduna markets.
- Over 2,000 women reportedly benefited from financial literacy and digital banking training.
- The programme aligns with Nigeria’s broader financial inclusion goals championed by the Central Bank of Nigeria and fintech operators.
Insight
The initiative reflects how fintech companies are increasingly moving beyond digital platforms into grassroots economic development. Financial inclusion in Nigeria is gradually shifting from urban-focused banking access to community-level empowerment, particularly among women-led informal businesses.
Implications
Improved financial literacy and digital payment adoption among women traders could enhance business growth, strengthen household income stability, and reduce dependence on cash-based transactions in underserved regions. The expansion of such initiatives may also accelerate Nigeria’s long-term financial inclusion targets.
Source: Punch.ng
