Breastfeeding is not always highly regarded in Nigeria. Only 34% of Nigerian mothers exclusively breastfeed their newborns. Serviceplan Innovation and Herconomy, a Nigerian fintech founded by women to empower other women to make their own choices for social and financial well-being, are working to turning that around by making it an opportunity for nursing mothers to earn greater financial returns.
The initiative, Breastmilk Money aims to demonstrate that breastfeeding is not only a fundamental process for child development but can also help families reduce costs and gain more resources. It was inspired by UNICEF data indicating that every US$1 invested in breastfeeding in the country generates US$35 in economic returns through improved child development and health.
The reasons behind the low rate of breastfeeding in Nigeria are even more striking. While some mothers are medically unable to breastfeed, many are discouraged due to cultural issues and social pressures based on superstitions and outdated beliefs that breastmilk is inadequate or even harmful – in addition to paternal jealousy. As a result, up to 30% of family income can be spent on purchasing formulas or dietary supplements.
“Breastfeeding is the most effective tool to prevent child malnutrition. It also strengthens family bonds, protects maternal health, and is environmentally friendly. Every mother deserves a pleasurable breastfeeding journey, and that’s why I work in this field,” stated Dr Lope Adejuyigbe, a certified lactation consultant and one of the experts involved in the project.
Breastmilk Money functions as a sub-account within Herconomy’s digital wallets, offering interest on the money not spent on infant formula. The system automatically calculates how much each mother would save monthly by choosing breastfeeding over formula, using data such as the child’s age, average consumption, and current product prices — adjusted in real time.
With the user’s authorisation, these calculated amounts are automatically transferred to the sub-account every month, earning 14.3% annual interest, a rate corresponding to the increase in child development associated with breastfeeding, according to recent studies. Funds can be withdrawn after two years, the breastfeeding period recommended by the WHO (World Health Organization), allowing mother and child to grow together both physically and financially.
“We believe true economic power begins with financial independence. When women have the tools to save, invest, and grow their money, they gain the freedom to make the best decisions for themselves and their families,” stated Ife Durosinmi-Etti, founder of Herconomy.
The full campaign includes the short film, Milk, directed by awarded filmmaker, Fariba Buchheim, portraying different real-life experiences of Nigerian mothers during the breastfeeding phase.
Several other initiatives and media extensions are part of the campaign, which also includes contributions from notable figures such as Ogechi Ekeanyanwu, an award-winning journalist who led the editorial strategy; Nengi Nelson, a photographer and filmmaker who documented the realities of Nigerian mothers; Yagazie Emezi, a photographer recognised by The New York Times and National Geographic; and Titilayo Medunoye, lactation consultant and founder of Milky Express, a leading breastfeeding support network in Nigeria.
“With Breastmilk Money, we want to empower women, especially mothers, to make their own decisions about their bodies and futures. Our role is to provide all the necessary information so that this choice can be made with confidence and not out of pressure,” commented Serviceplan Innovation creative, Tanvi Phalak.
