Eradicating Women’s Poverty Through Mobile Banking

mobile-banking

Please note the publish date of this blog. Financial information, market conditions, and other data mentioned in this post may no longer be accurate or relevant.

In recent travels to rural Bangladesh, I was in awe of how women there empower each other. As women shared their very personal stories with me, I couldn’t help but think these women are just like me but don’t have access to the same opportunities that I have. I saw mothers who will do anything in their power to provide for their children. They will sacrifice their own dreams to make their children’s dreams come true. They will feed their children the little rice that they have, leaving only the rice water for themselves as their stomachs growl. Oftentimes, these mothers are still children themselves, having been forced into marriage at age 11 and bearing their first child as soon as they were physically able to. This story isn’t unique to the women in Bangladesh. This is true of mothers around the globe.

If you want to change the face of a nation, invest in women and girls. Technology now gives us the opportunity to invest in each other regardless of what zip code we live in. I can invest in a woman in Bangladesh through mobile banking with the click of a button. The magic is in what happens after the transaction occurs.

Imagine a world that empowers women to start businesses by offering them capital. Consider this scenario: A woman receives capital to start her own agriculture business, and with her leadership the business becomes successful. Soon the company brings in income far greater than the $2-a-day average for individuals in Third World countries. This business enables her children to go to school to receive an education. That woman reinvests in her community. The chain reaction from this one investment has a domino effect that will eventually transform the global economy and make a significant step forward in eradicating poverty.

As I sat with many of these mothers in their Savings and Community Co-operatives (SACCs), I saw that these women are truly giving their children a better future with not much more than a dream. So in the spirit of Mother’s Day, please join us in acknowledging all mothers and mother figures in our lives and across the globe. In that spirit, I am making a loan to a woman to start chasing her dream, in honor of my mother. I want to thank my mom for the role model that she is and has been. Happy Mother’s Day to all.

Disclosure

Abacus Wealth Partners, LLC is an SEC registered investment adviser. SEC registration does not constitute an endorsement of Abacus Wealth Partners, LLC by the SEC nor does it indicate that Abacus Wealth Partners, LLC has attained a particular level of skill or ability. This material prepared by Abacus Wealth Partners, LLC is for informational purposes only and is accurate as of the date it was prepared. It is not intended to serve as a substitute for personalized investment advice or as a recommendation or solicitation of any particular security, strategy or investment product. Advisory services are only offered to clients or prospective clients where Abacus Wealth Partners, LLC and its representatives are properly licensed or exempt from licensure. No advice may be rendered by Abacus Wealth Partners, LLC unless a client service agreement is in place. This material is not intended to serve as personalized tax, legal, and/or investment advice since the availability and effectiveness of any strategy is dependent upon your individual facts and circumstances. Abacus Wealth Partners, LLC is not an accounting or legal firm. Please consult with your tax and/or legal professional regarding your specific tax and/or legal situation when determining if any of the mentioned strategies are right for you.

Please Note: Abacus does not make any representations or warranties as to the accuracy, timeliness, suitability, and completeness, or relevance of any information prepared by an unaffiliated third party, whether linked to Abacus’ website or blog or incorporated herein, and takes no responsibility for any such content. All such information is provided solely for convenience purposes only and all users thereof should be guided accordingly.

For more information about Abacus and this article, please read these important disclosures

Share:

What’s your financial archetype?

Simplify your life with a plan

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.