Proposed New Tags: Financial inclusion. Empowerment. Hesitancy. Unsustainable. Voucher. Innovation. Community. Currency.
NOTE: There is already a post on News+ on this news, but from a different News House - here
Indeed. Community currencies are an age old phenomenon.
https://www.bing.com/search?q=community+currency&form=APIPH1&PC=APPL
@Joe
Please discuss and justify these three proposed tags. Use Quote and Reply to highlight the source content informing each of the tags.
This may need your copying and pasting the text of the source article into here.
The major Highlights:
A Kwara village king has developed a unique currency for his village after visiting abroad and seeing the same.
He believes the currency will help bring empowerment to his community and help deepen financial inclusion.
Although questions have been raised by the government, he has been able to prove that it is for the good and not to become powerful.
Kwara Village King Develops His Own ‘Currency’ to Drive Economic Empowerment in his Community.
A Nigerian village king, Ademola Ajibola of Ijara-Isin, a community in Isin Local Government Area in Kwara South Senatorial district has been reported to have created a means of exchange for his community in an effort to boost economic activities.
According to Premium Times, Ajibola came up with the idea after his visit to the United States where he witnessed vouchers being used as a means of exchange in some factories. Read more: Kwara Village King Develops His Own ‘Currency’ to Drive Economic Empowerment in his Community - Legit.ng
Ajibola who is also known as Mount Olive loved what he saw in the US and in August 2021 decided to create a TLK voucher for residents within his community, Ijara-Isin. Read more: Kwara Village King Develops His Own ‘Currency’ to Drive Economic Empowerment in his Community - Legit.ng
Why the money was created Premium Times in its report noted that the King converted an abandoned community postal office into the community microfinance bank location called Ijara-Isin Development Fund Centre (IDFC). Read more: Kwara Village King Develops His Own ‘Currency’ to Drive Economic Empowerment in his Community - Legit.ng
How the voucher works as a means of exchange:
Premium Times in its report noted that the King converted an abandoned community postal office into the community microfinance bank location called Ijara-Isin Development Fund Centre (IDFC). Read more: Kwara Village King Develops His Own ‘Currency’ to Drive Economic Empowerment in his Community - Legit.ng
How the voucher works as a means of exchange Read more: Kwara Village King Develops His Own ‘Currency’ to Drive Economic Empowerment in his Community - Legit.ng
It is reported that the manager of IDFC, Yomi Odumade said the voucher is not money but simply a means to boost the economy of the community. According to him, the voucher was introduced to allow residents in the community to transact their businesses within the community rather than going out or simply saving Naira in the bank. Read more: Kwara Village King Develops His Own ‘Currency’ to Drive Economic Empowerment in his Community - Legit.ng
Who is Oba Ademola? According to a report by Midlandpost, Ademola is a foremost business icon and industrialist who loves cars with brands like Mercedes Benz, the luxurious Jaguar in the X-Range, top Chinese brands and others in his garage. Read more: Kwara Village King Develops His Own ‘Currency’ to Drive Economic Empowerment in his Community - Legit.ng
The below quotes/statement has to do with the tag EMPOWERMENT
The below quote has to do with the tag ‘‘HESISTANCY’’
Having read the post, im yet to see where the tag ‘‘unsustainable’’ is derived, unless we are looking into the future sustainability of such instrument which to me will be too early to predict and moreover, the article didnt give us any idea how successful it is now or how the people have deeply accepted or rejected it, except the initial sceptical from government quarters which is well anticipated if you ask me.
Ah. This is not hesitancy at all. It is “Regulatory concern”
And this spelling HESISTANCY is wrong.
It is baseless and unjustifiable.
Empowerment is not limited to economic o.
“Economic empowerment” would have been better.
How can you edit my entry without giving an indication of that, thereby giving the impression that the content was mine?
That’s a terrible error of judgement.
When I said “into here”, I meant a separate post into this topic. Please do that.
Thanks and cheers.