WFP's digital financial literacy enhances livelihoods - ITREALMS

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The digital financial literacy initiative of the World Food Programme (WFP) has helped communities upskill, enhance their livelihoods, access financial services and tools, as well as has potential in the long run to support development and strengthen food security for all, reports ITREALMS.

Just as ITREALMS gathered that in 2021 WFP transferred US$2.3 billion to 42 million people (52 percent women and girls), in 69 countries.

Speaking at the commemoration of the 2023 International Women's Day event, jointly hosted by the Food and Agriculture Organization of the United Nations (FAO), the International Fund for Agricultural Development (IFAD) and the World Food Programme (WFP), in Rome, the WFP’s Deputy Executive Director, Valerie Guarnieri, noted that food security for households are in the hands of women.

“Food security for households and communities is in the hands of the women. It is only through women’s empowerment that we can build a world where no one goes to sleep hungry,” Guarnieri said.

Putting resources in the hands of women, the Deputy Executive Director pointed out is a no-brainer and with this comes the transfer of knowledge and skills including digital literacy to help these women realize their full potential.

"Now that's the kind of game changer that we can all get behind,” Guarnieri said.

ITREALMS equally gathered that through WFP's cash-based transfer scheme across the globe, it seeks to directly address the barriers to digital and financial services borne out of socio-cultural norms and gender-based stereotypes.

By assisting women with digital and financial literacy trainings and working with community champions, WFP helps them to open their own banking, mobile money or other digital accounts, bringing economic benefits including food security to these women and, in turn, to their families and entire societies.

Further, ITREALMS recalls that WFP pledges capacity to provide first-time access to bank or mobile money accounts owned by women themselves and could help governments do the same.

"When women have accounts in their names and are confident using them, they can be financially resilient, save or access loans, and build a future for themselves and their family. It means that families and entire societies flourish - women can break the cycle of poverty and hunger, truly saving and changing lives," officials reiterated.

Remmy Nweke/DoP

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