An Overview of the My Circle Social Lender’s Financial Inclusion Program
The term “financial inclusion” is not just a buzz word it may sound new to some of us, so what is it all about? and what is it’s status in Nigeria as of today? Financial inclusion is simply seen as the availability and equality of opportunities to access formal financial products and services to everyone in a society. It may baffle you that a lot of people in our country still don’t have access to formal financial services.
Statistics from the EFINA Access to Financial Services survey revealed that 36.8% of the adult population in the country, are formally financially excluded. This translates to a population of 36.6 million adult Nigerians who are excluded at the moment, with 44.1% male and 55.9% female. The unbanked population is now 60.1 million with 71.3% of mobile phone users, that are adult among the excluded.
Over the years MyCircle has partnered with Social Lender and has invested hugely in financial inclusion by Opening bank account for many unbanked Nigerians across multiple locations. MyCircle Agents have also been able to enroll unbanked and under-banked demography on the Bank
Social Lender financial inclusion program is organized in partnership with MyCircle agency network. MyCircle Ambassadors and Agents go out into strategic places (e.g Towns, farms, market places, streets), find and invite those who are unbanked, under-banked (not financially included) and give them a financial literacy education and enlightenment, get them to understand the importance of being financially included, what money management is about. In addition, they learn, how to become financially free starting with a savings account, open accounts for the unbanked, get them enrolled on the BVN platform and get them financially included by exposing them to different financial services. This is currently happening in multiple states across Nigeria including the 6 states listed below:
⦁ Lagos State
⦁ Kano State
⦁ Kaduna State
⦁ Delta State
⦁ Oyo State
⦁ Ogun State
Social Lender is helping drive Financial Inclusion to make financial products and services accessible and affordable to all individuals and businesses, regardless of their personal net worth using the Social Reputation Score. In conjunction with Social Lender, we are striving to remove the barriers that exclude people from participating in the financial sector and using some of our services to improve their lives. By helping families and businesses plan for everything from long-term goals to unexpected emergencies. Exposing them to other financial services, such as savings, credit and insurance, start and expand businesses, invest in education or health, manage risk, and weather financial shocks, all of which can improve the overall quality of their lives.
By making best use of technology, we have provided innovative tools to address the problem of inaccessibility to financial services and devised new ways for individuals and organizations to obtain the services they need at reasonable costs.
You can join this Campaign today!
Asides from the above states, the programme is expanding to many more cities in Nigeria. You can be apart of this MyCircle campaign by becoming a MyCircle Agent ( Social Lender Ambassador )
The MyCircle Brand Ambassador earns rewards for educating their community and helping them become financially literate.This is a target based role with a guaranteed remuneration based on performance.
Some of the roles of the ambassador include:
• Help members of their target community in setting up a transaction account i.e. a Bank account, encouraging them to get their Social Reputation Score from Social Lender.
• Help educate your target community on the necessity of being financially included.
You can apply to be part of this programme by visiting ambassador.circleng.com