The project helping BAMER women in Newham, Tower Hamlets and Hackney to navigate personal finances
PUBLISHED: 07:00 08 January 2020 | UPDATED: 11:29 08 January 2020
A new project is helping black, Asian, minority ethnic and refugee women in Tower Hamlets, Hackney and Newham build financial literacy and resilience.
Many Sisters, which is set to run over two years, primarily aims to provide an opportunity for these women with access to financial health checks.
Face-to-face sessions will provide a high level of personalised support from trained professionals, tailored to their individual circumstances - whether they need help with a Universal Credit issue or making sense of their energy bills.
The project also offers a variety of group workshops aiming to help the women to increase their financial capacity and resilience.
The sessions will cover a wide range of topics related to personal finance, from money management to how to cook on a budget.
Many Sisters is being delivered by Southern Housing Group with funding from financial services firm JP Morgan, which has contributed £500,000.
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JP Morgan vice president Stephanie Mestrallet said: "The Many Sisters project aims to help women navigate their finances and prepare for financial shocks.
"Having the resilience to cope with these challenges is vital to ensure inclusion and good financial health.
"Regeneration is a big issue (in east London) and we believe it is important local residents are able to fully benefit from the changes to their community."
A range of activities for pre-school and school age children will be held alongside the workshops and individual sessions to alleviate any worries about arranging childcare.
Southern Housing Group's community investment team manager Alice Webster said: "Southern Housing Group has joined forces with JP Morgan to help lift women out of financial hardship, enabling them to thrive.
"Many Sisters will benefit not only black, Asian, minority ethnic and refugee women in east London, but their families and communities too."
The most recent government figures, published in October 2019, reveal there are more than 40 neighbourhoods in Tower Hamlets in the 20 per cent most deprived areas in Britain.
Newham has the highest rate of homelessness in the country and socio-economic deprivation is prevalent in Hackney.