Afripride Women Cooperative

Afripride Women Co-op

Discovering the Power of Rotating Savings & Credit Associations (ROSCAs)

We are a federally registered cooperative that aims to leverage ROSCAs to empower Afro-Canadian women with the goal of uniting and empowering ourselves through investing, sharing
knowledge, and providing social support. Our mission is to promote the socio-economic self-
empowerment of Afro-Canadian women, an equity-deserving group, through culturally aligned economic alternatives. We envision a future where Afro-Canadian women cooperatives stand as pillars of strength, driving positive change and contributing significantly to their communities.

The Challenge:

Afro-Canadian women, particularly new immigrants, face significant barriers to financial stability. These include:
⮚ Lack of access to funds or credit.
⮚ Insufficient personal resources to purchase indivisible goods or start income-generating
projects.
⮚ Difficulty in accessing funds due to a lack of credit history.
⮚ Limited financial literacy, making it hard to navigate and access available resources.

Our Solution:

We facilitate Rotating Savings and Credit Associations (ROSCAs) to empower our members by:
⮚ Accumulating Savings: Helping women save for unexpected expenses or emergencies through
community-based pooled resources.
⮚ Entrepreneurial Funding: Providing capital for entrepreneurial ventures, allowing women to
start or expand small businesses with peer-to-peer lending.
⮚ Entrepreneurial Collaboration: Promoting collective investments and partnerships to strengthen
business initiatives and share resources, ideas, and opportunities.

The Benefits:

⮚ Support for New Immigrants: Helping newly immigrated Afro-Canadian women integrate and
find support.
⮚ Financial Education: Offering mandatory financial literacy training, budgeting, and credit
awareness.
⮚ Mentorship Programs: Providing business and professional mentorship.
⮚ Corporate Social Responsibility: Engaging in CSR activities within Canada and other identified
Afro-Canadian geographies.
⮚ Community Development: Enhancing economic resilience, supporting local businesses, and
fostering unity and cooperation.
⮚ Building Credit: Helping women build a reputation for reliability and trustworthiness within their
community, improving future credit access.

By joining Afripride Women Coop, Afro-Canadian women can access vital financial resources, support systems, and educational opportunities to drive personal and community growth. We invite you to collaborate with us and be a part of this empowering journey.