Adelaja Titilayo – Loan Without Interest
Mother Pride and Development Initiative was founded by Adelaja Titilayo in the Mowe area of Ogun State, Nigeria.
The initiative supports rural, less-privileged women, widows and youths by providing them with loans to help them grow their respective businesses. From a survey conducted by the project on overcoming business challenges, 92% of the widows listed access to finance as their major challenge. In the light of this, the organization decided to introduce an interest-free loan scheme, which provides easy access to funds for destitute women and encourages them to form saving habits towards financial empowerment.
The success of this model is demonstrated in accomplishments to date, including many women working towards sustaining their businesses.