tEA disburse Zero-Interest Loans to 16 women street vendors in Kohima

July 4, 2023 113 Views No Comment

Over 1000 women from Nagaland and Manipur have availed loans since 2021

Our Correspondent
Kohima | July 4

The Entrepreneurs Associates (tEA) today brought smile to the face of 16 women street vendors by extending Zero-Interest Loans as part of “Uplifting Women Street Vendors Programme.”

This Zero-Interest Loans, disbursed to 16 women street vendors at a function held at Red Cross Building Kohima, was supported by the philanthropic group Caring Friends, Mumbai, to enable women street vendors to expand their business activities.

Over 1000 women from Nagaland and Manipur have availed Zero-Interest Loans since 2021.

This Zero Interest Loans was initiated under the banner of “Uplifting Women Street Vendors Program” post pandemic when tEA observed that its women street vendors had exhausted their savings and over 91% of the women shared their inability to re-launch their businesses.

‘Prioritize financial planning’
Encouraging 60 women street vendors present at the programme, Neichute Doulo, CEO, tEA told them to prioritize their financial planning and ‘Pay themselves first’ by setting aside money for their future through consistent savings.

Ashoka & Schwab Fellow Doulo added that his experiences as a shop owner in his earlier years taught him to be consistent and provide quality service to the customers, which he felt the women must be extremely mindful of.

Doulo also urged the women to think of long-term saving and planning rather than short term, further highlighting that it was important for them to invest in assets for progress.

He also told them to exercise politeness in their dealings.

Sharing the significance of “Uplifting Women Street Vendors Program,” Neikule Doulo, Head of Communications, tEA; shared that the program evolved after studying the situation of women vegetable vendors over a prolonged period.

As part of the ongoing programme to empower and uplift women street vendors across North East India, tEA is training and working with over 6500 women in Nagaland, Manipur, and Assam, she informed.

Narrating her association with tEA, street vendor Lonyi Yalie maintained that tEA has transformed her life. She expressed delight for better access to financial and market linkages.

A widow with three children, she shared that though she has not acquired assets like other vendors, she is extremely happy that this profession and the support from tEA has enabled her to provide decent life for her family.

Specialized Accelerated Intensive Learning launched
In association with Capri Global Capital Limited, tEA also launched Specialized Accelerated Intensive Learning (SAIL) today.

Highlighting about the Street Vendors Act and its current status in Nagaland, panel lawyer from the Nagaland State Legal Services Authority, Kezhosano Kikhi encouraged women to organise themselves into pressure groups to fight for their rights and welfare.

SAIL has been launched to provide intensive business inputs to the women street vendors.

The SAIL programme targets to impact 200 promising women with the potential for adopting improved systems and technologies with focused attention to help them progress and achieve economic prosperity sooner.

Chunjanglu Gracy, Operations Supervisor, tEA stressed the need to have proper budget planning and management of capital. Sentinaro Walling, Assistant Manager, EATACOL also provided some inputs into the services available for the women under this vertical of tEA.

The session was chaired by tEA’s Community Mobiliser Azonuo Chietsu while Bendang Walling, Pastor, Kohima Ao Baptist Arogo (KABA) invoked God’s blessings. The programme concluded with vote of thanks by Lenu Neikha, Project Associate, tEA.