Help women vendors save for future
Focus: Livelihoods , Women
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With just ₹3,000 you can help secure a street vendor's future!
The concept of financial security is alien to this vulnerable group and savings limited towards special occasions, where once spent they have to start all over again. This leaves them exposed to potential penury when hit by unforeseen calamities that could push them to deeper deprivation and debt. With the financial literacy and savings plan that EA will provide, women will be empowered to uplift themselves from an uncertain future.WHY NAGALAND
In a state where the unemployment rate is double the national average, women street vendors are a common sight but their contribution to the economy is mainly overlooked. They are viewed as a ‘public nuisance’ and many live in the constant fear of being evicted. Plus competition from non-local vendors and a lack of storage facilities often force them to sell perishables at cheaper prices, so profit margins are small.
Most of the women vendors do not progress financially even after decades of working and selling vegetables on the streets.
EA plan to mobilise women street vendors in the four districts they work in and encourage them to open a savings account with The Nagaland State Entrepreneurs Associates Thrift & Credit Cooperatives Federation Limited. For every ₹3,000 raised, EA will contribute ₹2,000 to buy equity shares for each vendor in a natural food social enterprise promoted by EA. The shares will locked be in for three years, with annual dividend returns for each.