BusinessHABnpower facebook: Nigeria is rated as one of the world’s fastest-growing economies, and its citizens are among the most globally connected. In fact, more than 60 percent of Nigerians have access to the internet, according to a report from eMarketer. The country has also become an increasingly popular destination for immigrants and expats, particularly professionals in STEM fields. This article explores how Npower helps Nigerians worldwide by giving them easy access to essential services when they need them most.
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From Nigeria To The World: How Npower Helps Nigerians Worldwide
npower facebook: In this digital age, with the internet playing a central role in our lives, Nigerians are digitally connected more than ever — especially when it comes to sending money home. According to the World Bank, remittances from abroad back to Nigeria exceeded $1 billion for the fourth consecutive year in 2017. Today, nearly 20% of all Nigerian adults living abroad send money home regularly as a source of income or support. The Npower Foundation knows the importance of digitizing finances for people from disadvantaged backgrounds who may not have access to banks or other financial institutions. As such, they created the Npower Digital Financial Literacy Program for Nigerians around the world and people who want to relocate there.
What Is Npower?
Npower is a non-profit organization that provides digital literacy, financial education, and entrepreneurship programs to low-income communities worldwide. The organization was founded in 2001 by Deutsche Telekom to bridge the digital divide. Since 2015, Npower has been a joint project between the Deutsche Telekom Foundation and the UN Foundation to promote digital skills, entrepreneurship, and financial inclusion. Npower has implemented financial literacy programs in over 50 countries.
The Npower Digital Financial Literacy Program
Npower’s digital financial literacy program aims to provide financial services to people who are financially excluded and underserved by traditional financial services providers. The organization partners with microfinance institutions (MFIs) and banks to offer money transfer and savings account services, mobile money, and microloans. Npower is currently working with MFIs and banks in Nigeria, Ghana, and the Philippines. The program has two components: Financial literacy and entrepreneurship. Financial literacy includes lessons on how to save, how to send money home, how to build credit, and how to use technology to build and protect a financial future. The entrepreneurship component offers business skills and mentorship and sessions to help people start and grow their own businesses and create jobs in their communities.
Why is financial literacy important for Nigerians worldwide?
npower facebook: : Financial literacy is an important competency to have as a global citizen. It helps people take control of their financial futures, find new income streams, and save for emergencies. It is also important to help people understand how to transfer money to their loved ones back home and how to access that money. Finally, many governments around the world have been looking for ways to increase their tax revenues. Financial literacy programs can help people increase the amount of taxes that they pay, which benefits society as a whole.
How does Npower help?
npower facebook: Npower partners with banks and microfinance institutions to offer digital financial services, including mobile money, money transfer, and savings accounts. The organization also trains MFIs and banks to offer these services, conducts financial education programs in low-income communities, and helps people access grants and loans to start their own businesses.
Helping people to relocate to Nigeria
Npower is working with Nigerian banks and MFIs to help people relocate to Nigeria. The organization has designed a program called “Online Registration” to make the process easier. People can register their biometric data — a digital footprint that can be used to verify their identity — online and use the data to open bank accounts in Nigeria. The data can also be used to authenticate the identity of people who are sending money abroad.
Helping Nigerian migrants find jobs in their native country
Npower is helping Nigerian migrants find jobs in their native country. If a person needs to stay in a country temporarily, they may want to find a way to earn money while abroad. Npower is partnering with a transportation company to offer an app called Work Abroad. The app lets people find remote jobs in Nigeria so they can earn an income while abroad.
Conclusion
Npower aims to provide financial services to people who are financially excluded and underserved by traditional financial services providers. The organization partners with banks and microfinance institutions to offer money transfer and savings account services, mobile money, and microloans. Npower also trains banks and MFIs to offer these services and conducts financial education programs in low-income communities.
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