The Mama Mahalia Foundation INC USA, in partnership with the Project COACH initiative has organized a one-day Empowerment and Entrepreneurship Program for market women and traders in Kwara State.
The event, which held at Hakam House and covered by 9japarrot in Ilorin on Thursday focused on equipping participants with modern business strategies, financial discipline, and sustainable growth plans to navigate the current economic climate.
In a strategic move to boost the local economy and sharpen the business acumen of small-scale entrepreneurs across the three Senatorial districts of the State, no fewer than 100 beneficiaries were drawn as beneficiaries.
Delivering his remarks at the session, Mr. Usman Taiwo Hassan (Big Bro) lamented the stagnation of many small businesses due to a lack of planning and excessive spending on non-essential social activities, urging traders to move away from traditional methods and embrace progressive strategies.
Hassan introduced a practical financial model for the participants, advising them to reinvest the bulk of their profits to ensure long-term expansion.
“Let us learn to save 20% of our gains for future purposes and 20% for personal use, while returning the remaining 60% back into the business. Let us reduce how we spend on unnecessary things and save for big dreams and progress,” Hassan charged the participants.
He further noted that many business owners remain in the same shop for years without an upgrade because they fail to distinguish between capital and personal spending money.
Also speaking at the program, a resource person, Mr. Innocent Ogbonna facilitated a session on “Business Capability and Money Management” where he cautioned entrepreneurs against the dangers of over-leveraging or rushing into ventures that exceed their current financial capacity.
“Don’t just rush or put yourself in any business you don’t have the capability for if you don’t want your funds to crash. Start with what you can afford and save toward your dream business,” Ogbonna advised.
He stressed that effective money management is the only way to protect a business from folding under pressure.
On her part Hon. Mahalia Aisha Ahman Pategi, whose foundation sponsored the initiative described the intervention as timely given the need for financial literacy among grassroots traders.
She noted that the partnership between the Mama Mahalia Foundation and Project COACH aims to create a ripple effect, where empowered market women become role models and drivers of development within their respective communities across Kwara State.
More pictures from the event
