Dr. (Mrs) Caroline Uyoyo Edevbaro & John Tongshinen Gozhak
Department Of Entrepreneurship, Faculty f Management Sciences, University of Benin, Benin City, Edo State.
University Of Benin Teaching Hospital, Benin City, Edo Stat
Corressondence Email Address: [email protected]
Abstract
This study examines the long-term psychosocial impacts of financial empowerment programs, with a focus on the TraderMoni initiative for women in Delta state, Nigeria. Using a longitudinal design, the research tracked 200 women beneficiaries over a three-year period (2021-2023) to assess changes in psychological well-being, decision-making power, and social participation. Data were collected through surveys and structured interviews, combining quantitative and qualitative methods to provide a comprehensive understanding of the empowerment process. The findings reveal significant improvements in self-esteem, increased social engagement, and enhanced decision-making abilities. Triangulation of survey and interview data strengthens the validity of these results. Furthermore, the study highlights TraderMoni’s potential to address financial exclusion, foster economic independence, and non-monetary benefits which contribute to sustainable social and economic development. Hence, it concludes by recommending the scaling and expansion of such programs across urban and rural areas to maximize their positive impacts and advance gender equality to achieve broader socio-economic development and foster sustainable development in Nigeria.
Keywords: Financial empowerment, Non-monetary impacts, TraderMoni, Longitudinal analysis, Psychosocial well-being