Connect with us

Finance

Mercy Corps selects MoMo Agent for cash transfers to 14,000+ households in Yobe

The European Union is funding Mercy Corps to implement an array of early recovery interventions across North-East Nigeria which involves cash assistance to vulnerable households

Published

on

Mercy Corps and MoMo Agent
L-R: European Union Head of Cooperation, Tassin-Pelzrr Cecile; Country Director Mercy Corps Nigeria, Ndubuisi Anyanwu; Chief Executive Officer, Y'ello Digital Financial Services (YDFS) a subsidiary of MTN Nigeria, Usoro Usoro; the BRICC Programme Director, Mr. Dez Byamukama during the Building Resilience in Complex Crisis (BRICC) partnership sign off ceremony between Mercy Corps Nigeria and Y’ello Digital Financial Services at the Mercy Corps Office, Utako, Abuja.

Mercy Corps’ ‘Building Resilience in Complex Crisis (BRICC)’ programme funded by the European Union, has entered into a strategic partnership with Y’ello Digital Financial Services (owners of the MoMo Agent Network), a subsidiary of MTN Nigeria, to efficiently deliver automated cash transfers and provide an avenue for programme participants with or without bank accounts to receive funds.

Mercy Corps and MoMo Agent

L-R :The European Union Head of Cooperation, Tassin-Pelzrr Cecile; Country Director Mercy Corps Nigeria, Ndubuisi Anyanwu; Chief Executive Officer, Y’ello Digital Financial Services (YDFS) a subsidiary of MTN Nigeria, Usoro Usoro and BRICC Programme Director, Mr. Dez Byamukama during the Building Resilience in Complex Crisis (BRICC) partnership sign off ceremony between Mercy Corps Nigeria and Y’ello Digital Financial Services at the Mercy Corps Office, Utako, Abuja.

This partnership will kick-start the use of MoMo Agent in the distribution of conditional and unconditional cash transfers to 14,270 households in Damaturu and Potiskum LGAs in Yobe state.

The European Union is funding Mercy Corps to implement an array of early recovery interventions across North-East Nigeria which involves cash assistance to vulnerable households and young people to help restore and improve livelihoods, making them more resilient to conflict and climate shock and stress.

COVID-19 has aggravated the impact of the conflict in the state, affecting market opportunities and increasing unemployment.

Of the participants that will be given cash transfers, 1,570 youths will receive funds to help them start a business after undergoing vocational training like automobile repairs, agribusiness, fashion designing, food business, and phone repairs, among others.

BRICC Programme Director, Mercy Corps, Dez Byamukama, said, “The major goal of the BRICC programme is to build the resilience of communities, by providing them with the capacity and resources to respond to shocks and stresses, which have been worsened by the COVID-19 pandemic. Cash supports beneficiaries to respond to their basic needs and survive economic hardship, Automated cash transfer also reduces the cost and security risks associated with the transfer and direct distribution of cash.”

ALSO READ  NairaWatch: Monday's Parallel Market Exchange Rate – ₦440/$1

The presence of MoMo agents in communities where BRICC is implemented, means faster and more efficient means of delivering cash transfers without participants having to wait in long queues. With an agent base of over 150,000 across the country, MoMo Agents provide safe, fast, and easy access to financial services for customers through their widespread presence and reliable service.

This partnership with Mercy Corps provides a unique opportunity to extend these benefits to the most vulnerable families in Yobe State and other conflict-affected states in the North East.

Commenting on the collaboration, the Chief Executive Officer, Y’ello Digital Financial Services, Usoro Usoro, said his organisation is committed to ensuring that every Nigerian is able to seamlessly access financial services for their personal and business needs.

“To do this, we constantly seek partnerships to support the financial inclusion strategy of the federal government. We are truly excited about this arrangement with Mercy Corps and the possibilities. With over 150,000 agents spread across the country, we are poised to deliver easy and fast cash transfers to beneficiaries of the programme in Yobe State and other locations within the country where required,” he stated.

EU Head of Cooperation, Tassin-Pelzer Cecile, also commended the initiative, noting that cash transfers are often more efficient and effective than other forms of aid.

Mercy Corps and MoMo Agent

L-r; Health, Nutrition and Resilience Section, Delegation of the European Union to the Federal Republic of Nigeria & ECOWAS, Chioma Osuji; the BRICC Programme Director, Mr. Dez Byamukama; Country Director Mercy Corps Nigeria, Ndubuisi Anyanwu; the European Union Head of Cooperation, Tassin-Pelzrr Cecile; Chief Executive Officer, Y’ello Digital Financial Services (YDFS) a subsidiary of MTN Nigeria, Usoro Usoro and the General Manager, Regional Operations (North) MTN Nigeria, Hajia Amina Usman during the Building Resilience in Complex Crisis (BRICC) partnership sign off ceremony between Mercy Corps Nigeria and Y’ello Digital Financial Services (YDFS) at the Mercy Corps Office, Utako, Abuja.

She said: “Cash provides beneficiaries with the means and flexibility to decide and prioritise their recovery. In many contexts, cash assistance allows more aid to reach the beneficiaries directly. It also supports local markets and economy, laying the foundations for communities’ recovery and resilience. Cash transfers are effective in addressing negative-coping strategies such as poor diets or debts. It is very important that Mercy Corps continuous to work with the government to strengthen the State Social registry of the most vulnerable linking beneficiaries with the social protection programme.”

Advertisement
1 Comment

1 Comment

  1. Pingback: Mercy Corps Selects MoMo Agent For Cash Transfers To 14,000+ Households In Yobe | Techvalley

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Advertisement
Advertisement
Advertisement
Advertisement
Advertisement

Facebook