Financial literacy and practical skill for rural women

Help women to improve their financial capability, to enable them to have the best possible financial wellbeing, both now and in the future.

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  • Yes, I fulfill all of the eligibility criteria.

Initiative's representative name

Zalina Dzeit

Initiative's representative date of birth

4 June 1978

Initiative’s representative gender

  • Woman

Which eligible market are you based in?

  • Russia

Where are you making a difference?

Republic of Ingushetia, North Caucasus

Website or social media url(s)

When was your organisation founded?

October 2009

Focus areas

  • Financial skills and capability

Project Stage

  • Pilot (have done first proof of concept)

Yearly Budget: How much capital do you need to accomplish your proposed project?

  • $10k - $50k

Organisation Type

  • Non-profit / NGO

1. Founding story: Share a story about the "Aha!" moment that led the founder(s) to get started or the story of how you saw the potential for this to succeed

When I was watching video from Chicago Council on Global Affairs speakers emphasized "that research continues to show that women earn less than men and that men are four times more likely than women to ask for a raise – and when women do ask, they receive 30 percent less than men. Women are also less likely to invest, generating an investment gap between genders that can reach as high as $1 million over time. As a result, women retire with two-thirds the money of men, even though they usually live years longer". Thinking over the situation in my Republic I am surprised about the point that women really don't get education on finance literacy , can't see opportunities for investing their money , effective financial planning etc

2. The problem: What problem surrounding employability or financial capability are you helping to solve?

In 2017 I was implementing project on women and girls empowering. Our objective was to raise awareness of women and girls about their rights: political, social and economic. During the economic session I realized that Ingush women completely unaware of the opportunities to receive support from the state to open their own business. 0% of all 210 women participating in the program knew about financial literacy and 0% had investment experience.

3. Your Solution: How are you planning to solve this problem? Share your specific approach.

1.Organise 10 sessions (online and offline) for young rural women “Effective financial planning, properly managing debt, accurately calculating interest, understanding the time value of money, learning how to budget, track spending, effectively pay off debt, and properly plan for retirement, digital opportunities for better financial literacy” . More than 1000 women will be involved . One grope will be students of economic faculties / the second group for women- freelancers/ the third group is unemployed women/ and the fourth is for employed women. The age from 18 to 40 . Training program will include topics tailored to the interests and needs of groups. Training program will be composed by specialists 2. Form and promote women digital networking . On this platform women with different background , professions and occupation will share their success stories , ask and answer finance questions . The network will be administered by 3 volunteers who will show their motivation in promoting it

4. How are you innovating or using unique approaches to solving the problem?

This is an innovative approach for the Republic of Ingushetia since there were no seminars on financial literacy of women before. There are no organizations in our region that are engaged in improving the financial well-being of women. Of particular importance is the creation of female network digital platform (with chat) for the dissemination of experience and success, knowledge, approaches. Support each other participants. Rural women often have complexes and afraid to ask questions. Therefore, network will include successful women entrepreneurs and will be an opportunity for new ones starting business or just who wants to increase financial grammar.

(Instructions for questions 5 and 6, no answer required) Please only answer the question (5 - “employability” or 6 - “financial capability”) that applies to your organization’s topic of work (see below for definitions)


6. Financial capability: how is your organization or project creating innovative solutions that arm people with ability to optimize their current and future financial health

Our organization will give women knowledge based on their needs and interests. Specialists will take into account the needs of specific groups in the formation of training programs. These will be very flexible sessions with supervisions. For example, if one of the participants already has her own business, our specialists will analyze and help women find weaknesses in their work and further advise to increase profits and success. For unemployed women there will be programs tailored to their interests and so on. They will know what financial services and products are at their disposal and which ones are appropriate to them.In Ingushetia women with high financial income is more protected from domestic violence or from the risk of not having access to her children if she gets divorced. Financially competent woman can protect most of her rights and also she can help other vulnerable women.

6a. Please describe what aspect of financial capability your organization is focused on fostering and how you have measured / plan to measure progress.

Skills to manage household financial management (accounting, budgeting, separating between their needs and wants and calculating interest payment ) as well as to develop and manage entrepreneurial activities. For measuring progress we will use assessment methods - questioning before/after the program and observation. Also we will evaluate the quantity and quality of participation in a digital network (this is easy to do in the portal administration process)

7. Marketplace: Who else is addressing the same problem? How does the proposed project differ from these approaches?

It is difficult to answer this question since it is still difficult to find such a specific group of beneficiaries that we are going to involve and help

8. Impact: How has your project made a difference so far?

According to the results of the recent project “I Know - I Can” from 2017, we were able to attract 210 direct participants and more than 1,500 women were involved through Internet resources and media.But these were topics on the legal education of women and very few were concerned about the economic opportunities of women

9. Financial Sustainability Plan. Can you tell us about you plan to fund your project and how that plan will be sustainable in the short, medium, and long term?

We are establishing contacts with foundations that help strengthen women. We are already members of the Women Economic Forum and All Ledies League. A Digital Women Network platform is being created with a plan in the future to post paid (sponsored) content and use profits (incomes) for further implementation of the project

10. Team

Zalina Dzeit - Project Coordinater, full-time. Zarima Doshokloeva - Human Recourses Specialist, responsible for staff recruitment (part-time). Zara Evloeva - economist, successful experience in entrepreneurship, part-time. Malika Bekova - accountant with 9 years of experience. part-time. Madina Mereshkova is a specialist in budget management and business development (part time) Leyla Ozdoeva lawyer and site administration( patr-time). Every will be attracted based on knowledge and experience

Help Us Support Diversity! Are you a member of an under-served , under-represented, or marginalized group in your country of residence? (yes/no) (this question is optional – if you choose to fill it out, the response will not be shared with your fellow contestants)

  • Nationality
  • Ethnic group
  • Gender
  • Religion

If you selected “yes” to any of the categories above, please explain how being a member of this group has impacted you and your work?

In Russia it is very difficult for Caucasus ethnic group to get better social opportunities. Our region has the lowest income and highest unemployment in this country. It is especially difficult for Muslims because banks in Russia do not give Islamic loans and Muslims cannot take other loans because of religious beliefs. Therefore, there is no way to get interest-free subsidies from the State even for small business start up.

How did you hear about this challenge?

  • Social media

Evaluation results

2 evaluations so far

1. OVERALL Evaluation:

Yes, absolutely! - 50%

Yes/maybe - 50%

Maybe - 0%

Maybe/no - 0%

No - 0%

2. Is this entry INNOVATIVE?

Yes, absolutely! - 0%

Yes/maybe - 100%

Maybe - 0%

Maybe/no - 0%

No - 0%

3. Does this entry have SOCIAL IMPACT?

Yes, absolutely! - 50%

Yes/maybe - 50%

Maybe - 0%

Maybe/no - 0%

No - 0%

4. Is this entry VIABLE financially and operationally?

Yes, absolutely! - 0%

Yes/maybe - 100%

Maybe - 0%

Maybe/no - 0%

No - 0%


Yes, absolutely! - 0%

Yes/maybe - 100%

Maybe - 0%

Maybe/no - 0%

No - 0%

6. FEEDBACK: Highlights

IMPACT POTENTIAL: You use specific numbers and evidence to describe what your project has achieved so far (or plan to achieve in the future) – and you have a concrete plan for future impact. You have specific tools for measuring impact. - 100%

QUALITY OF INNOVATION: You have a great understanding of the problem, have researched existing solutions, and have developed unique, thoughtful solutions - 100%

FINANCIAL AND OPERATIONAL SUSTAINABILITY: You have given a great deal of thought to not just the idea itself but how to make it work operationally and financially in the present and future; your plan is specific and you value sustainability. - 0%

CHANGEMAKING ACTIVATION: You have a good plan on how to activate changemakers and empower them to innovate through your product or programming - 0%

Other option - 0%

7. FEEDBACK: Areas for Improvement

IMPACT POTENTIAL: make sure to provide specific instances of your social impact (or how you plan to measure impact) – it may be helpful to describe the beneficiaries, the main activities/products, and provide evidence of (or plan for) impact evaluation - 100%

QUALITY OF INNOVATION: make sure to describe how your solution is unique and innovative – it is helpful to include the research you have done on past solutions and how your solution is different from (and/or builds upon) these. - 100%

FINANCIAL AND OPERATIONAL SUSTAINABILITY: make sure you have provided descriptive information about your financial sustainability plan. Where do the funds come from now and do you have a concrete plan for future sustainability? - 0%

CHANGEMAKING ACTIVATION: make sure you describe your plan for how to empower others to become changemakers through your programming, service, or product - 0%

WRITING STYLE. Try to be concise, descriptive, and specific. Avoid jargon. - 0%

Nothing stands out! I thought it was great. - 0%

Other option - 0%


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