Pay with Coconut

Year: 2019
Country: Nigeria
Project Investment: $2,993.02
Project Status: Funded
Sector: Economic Opportunity

Project Launch: 12-31-19

A community in Lagos State is utilizing $2,993.02 to launch an initiative to help 100 mothers who are members of the Coconut Market Association (CMA) in Tarkwa Bay Island to increase their income with a natural, yet often overlooked resource in their community - coconuts. The project will train the women on basic financial literacy and the many derivatives they can obtain from the coconut. It will then establish a small factory for processing pure coconut oil, which will be sold online and at the local market. Three women will be trained and employed as full time workers at the factory. A reputable marketing and communications agency has also agreed to a 2-year partnership to oversee the marketing of the product as a community empowerment initiative. Besides providing the mothers with financial independence, this project will make it possible for them to consistently pay their children’s school fees, the primary reason expressed by these mothers for why they joined the Association.

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