How Joan Was Able to Save ₦250,000 ($543) To Survive Her Unpaid Maternity Leave

Joan works with a Multinational Corporation and earns over ₦200,000 ($453) monthly.

About two years ago, she joined SmartCoop, created an 8-month savings plan, and started saving ₦500 ($1.13) daily automatically.
A few days later she stepped it up to ₦1,000 ($2.26) naira daily.

A few weeks before her maternity leave she got a notice that due to company policy, she won’t be getting a paid leave.

Thanks to the savings plan she set up almost a year ago. At the end of the 8 months, she had automatically saved approximately  ₦250,000 ($566) (interest included). She withdrew the money into her bank account and used it to manage her personal expenses during the 3-month nonpaid leave.

Imagine if she didn’t have a backup before this time.

At SmartCoop, we encourage women to build and nurture a sound savings culture that will help them become more financially independent.