Women In Agricultural Cooperatives Enjoys Support of BOA, BOI, SMEDAN

Transparent and free access to services and incentives provided by some agro-based financial institutions in Gombe has encouraged more women to venture into small and large-scale farming.

These financial institutions, the Bank of Industry (BOI), Bank of Agriculture (BOA), and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), whose flexibility and low loan interest rate has continued to attract more women into farming, has boosted economic development and welfare of the rural population.

Transparency in Access to Funding for women in Agricultural cooperatives through these Institutions has been a concern and a focal point for addressing Gender disparity and ensuring fair and equitable access to financial resources.

However, an investigation by our correspondent revealed that some of these women who utilized the opportunities offered by these institutions have continued to tell stories of success and the positive impact it has had on their families.

BOI, BOA, and SMEDAN are pivotal financial institutions in Nigeria that play significant roles in providing access to funding, support, and resources to various sectors, including agriculture.
 
Primarily, agricultural cooperatives help build sustainable communities, especially in rural areas which can boost economic development and welfare of the rural population.
 
One of the main ideas of Agricultural cooperatives is self-support as members are given soft loans with low interest rates. Some of these women bore their experiences to our correspondent.

Maryam Abubakar is the chairperson of Alfari Women Group, an Agric Co-operative in Gombe with about 20 registered women, most of whom are farmers.

She is one of many women who have been enjoying the benefits of micro and enterprise loans as well as medium-scale loans from the Bank of Agric in Gombe for the past two years.

The BOA, a Nigerian Government-sponsored development bank, provides credit facilities to both small businesses within rural areas and Maryam noted that women are becoming more aware of the various loans obtainable through the BOA in the State, hence, the increase in the number of women who are currently benefiting from BOA loans. She described the mode of accessing loans from BOA as transparent and without challenges and with an interest rate of 4%.

She said it is low and payable which is what gave her the confidence to approach the bank to access loans and assist her farming and other businesses.

Maryam said many women who benefit from the loan find it easy to repay within 6 months because of its flexibility.

Our investigation also revealed that many rural women are beginning to gain Access to soft loans from various Institutions, especially the BOA.

SMEDAN, another institution that has supported women farmers in Gombe State has also recorded some remarkable achievements with the women entrepreneurs.

Mr. Umar, the desk officer for SMEDAN in the Gombe office says, the agency does not issue direct loans to individuals but can provide one with business planning, development information, and advice to ensure that one has a good and confident start.
 
According to Mr. Umar, SMEDAN provides Access to finance, Business support services as well and Business information services among other mandates.

He however said the agency has some programmes which has been easily accessible to the women and which have made a direct impact on them.

He said one of the programmes is the “wise P” for women in Agriculture, which targets women in various LGAs in Gombe State.

The women in Agricultural Cooperatives are selected and are given Entrepreneurship Development Training and Funding as grants to start their businesses.

About 400 women from various Local Governments in the State have so far benefited from the first round of the “Wise P” programme which started in 2016/2017 with three rounds of the programme successfully carried out to their completion.

Altine  Bello who is into food processing and Poultry farming is one of the many women who have benefited severally from some programs by SMEDAN like the “wise P” programme.

She testified that pieces of training had been held for them as well as cash and equipment provided for the women to support their agro-businesses.

However, at the Bank of Industry, it was observed that the bank does not operate its services or give out loans based on gender.

Any individual who meets their conditions or requirements is provided with the needed facilities or equipment for their businesses with a 9% interest rate with a repayment period of 36 months and a moratorium of three to six months.

However, even with the support from these agro-based financial institutions, some women in Agriculture say they have survived and even thrived independently of these institutions.

Hajiya Jummai Ibrahim, a resident of Nayi Nawa Quarters in the Gombe metropolis, engages in large-scale dry and wet season farming at Dadin Kowa in Yamaltu/ Deba Local Government Area of the State. She also shares her experience.

She said she had never benefitted from any loan scheme even though she cultivates large hectares of land, thereby contributing immensely to the food security programme of the Government.

Jummai stated that though there were good returns on investment in farming, she, however, noted that such returns may be preceded by a monumental loss, thus, acknowledging that farming is also characterized by risks that may turn a farmer to become unemployed if not properly managed.
 
“I cultivate crops such as rice, maize, and groundnut and I am also into poultry and livestock farming but I grow rice more than any other grains. I have about eight hectares of rice farm where I harvest about 150-200 bags of rice yearly.

“I have invested quite a lot in farming and I have acquired a lot through farming. Thou I gain a lot, there are exceptional cases sometimes. In the year 2000, I experienced poor harvest as a result of bird infestation, warms, and other diseases that affected my crops, particularly rice and I had no money to tackle the challenge in time”, she recounted.
 
This, she said had affected her harvest that year as she was only able to scavenge less than 30 bags of rice, unlike other years.
 
Despite some of the challenges she faced in farming, Jummai is not deterred by any of the challenges as she struggles through other means such as trading to sustain her occupation which she has a passion for.

She says, “I have never applied for any grant or sought other means of financial support through any Agric Cooperative, Bank, or Government to support my farm practice.

“I struggle and work very hard to be able to source funds”. She recalled that there was a time when she had to sell off her landed properties to buy chemicals and other farm inputs to save her crops from pests and diseases.

When asked if she would like to join Agric Co-operative to access loans, Hajiya Jummai said she was afraid of any form of loan. According to her, “Death can come at any time,  and I am afraid to die with a loan as it will affect my children and relatives as well”.

Transparency in accessing funding for women in Agricultural cooperatives through these Institutions has been a concern and a focal point for addressing Gender disparity and ensuring fair and equitable access to financial resources.

Even though women in Agricultural cooperatives are faced with challenges in accessing funding due to various reasons which include access to information, collateral requirements, and cultural barriers among other challenges, more women, especially in the rural areas are becoming more aware of the funding opportunities provided by these institutions.

Clear, accessible information about the application process, criteria, and necessary documentation and requirements is crucial and this investigation revealed that efforts to reduce the barriers that hinder some women from accessing funds such as collateral requirement or bureaucratic procedures are essential.

Offering support mechanisms that cater specifically to the needs of women in Agriculture such as capacity-building programmes, mentorship, and guidance on the application processes can significantly enhance transparency and facilitate access to funding.

Instituting transparent monitoring and evaluation mechanisms within these financial institutions can ensure that funds allocated for women in Agric cooperatives are disbursed fairly and effectively.

This includes regular audits and assessments to track the allocation and utilization of funds.
Developing and implementing gender-responsive policies within these institutions can help in ensuring fair treatment and support for women engaging in agricultural cooperatives.

Policies aimed at addressing gender disparities in accessing funding and resources can foster transparency and equality.

Collaborations between these financial institutions, Government bodies, NGOs, and other stakeholders can create a more holistic approach to address the issues of transparent funding access for women in Agric cooperatives.