Breastmilk Money

A special project in Nigeria is breaking regional paradigms around breastfeeding by turning the act into an opportunity for nursing mothers to earn greater financial returns. Titled “Breastmilk Money”, the initiative was designed to prove that breastfeeding is not only a fundamental process for child development but can also help families reduce costs and gain more resources.

Conducted by Herconomy, a Nigerian fintech founded by women to empower other women to make their own choices for social and financial well-being, the initiative was inspired by UNICEF data indicating that every $1 invested in breastfeeding in the country generates $35 in economic returns through improved child development and health. Still, only 34% of Nigerian mothers exclusively breastfeed their newborns.

The reasons behind this low rate 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unable to breastfeed, many are discouraged due to cultural issues and social pressures based on superstitions and outdated beliefs that breastmilk is inadequate or even harmful — in addition to paternal jealousy.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,” emphasizes Dr. Lope Adejuyigbe, a certified lactation consultant and one of the experts involved in the project.

How It Works
Designed as the world’s first financial product to turn breastfeeding into real economic savings, 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 authorization, 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 Funds can be withdrawn after two years, the breastfeeding period recommended by the WHO (World Health Organization), allowing mother and child to grow together both physically and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,” emphasizes Ife Durosinmi-Etti, founder of Herconomy.

Amplifying the Message
Developed in partnership with the German agency Serviceplan Innovation, the project goes beyond a financial tool, aiming to spark conversation and raise awareness among both men and women, challenging some of the cultural and social norms surrounding the topic. As part of the communication effort, the initiative includes the release of the short film “Milk”, directed by award-winning 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 recognized 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,” reinforces Tanvi Phalak, a creative at Serviceplan Innovation.

Why Is Breastfeeding Important?
While there are many legitimate reasons why some women may not breastfeed — and the decision should always rest with the mother — science clearly supports the benefits of the practice. Exclusive breastfeeding during the first six months significantly reduces infant mortality, strengthens immunity, and lowers the risk of infections, diarrhea, and malnutrition. For mothers, it helps reduce postpartum hemorrhage, breast and ovarian cancer, and speeds up recovery.