There’s a noticeable silence that surrounds discussions where women talk about money and motherhood together. It’s as if the room isn’t prepared for it, and the topic feels too sensitive, too common, or too significant to address all at once. But Herconomy didn’t wait for permission to bring this conversation to light. They built Breastmilk Money.
When Innovation Village reached out to the team behind Breastmilk Money—curious about the thinking that turned a cultural act into a financial tool—their response wasn’t just thoughtful, it was deeply intentional. They peeled back the layers on what it means to design a product that doesn’t just serve women, but honours them. It’s not just a savings product. It’s not just a campaign. It’s a bold, quietly radical question: What if the most natural act of care—a mother feeding her child—could also grow her wealth?
The Cost of Love. The Price of Formula
Every mother knows: there’s no such thing as “free” when it comes to raising a child. In Nigeria, a single tin of infant formula costs between ₦7,000 to ₦10,000, with babies needing multiple tins each month. UNICEF estimates that only 29% of Nigerian children under six months are exclusively breastfed—a statistic driven in part by economic strain and social pressure. Rather than ignore this tension, Herconomy leaned in.
Camille Nizet, one of the brains behind the campaign, said it best:
“There’s been many campaigns over the years to promote exclusive breastfeeding, but they mainly focused on the health benefits… Yet, once pointed out, the connection between breastfeeding and financial value felt obvious.”
So obvious, she said, that people often responded not with skepticism—but with a curious, “Why hasn’t anyone thought of this before?“
A Digital Wallet for a Mother’s Invisible Labour
With Breastmilk Money, every time a mother breastfeeds instead of buying formula, the avoided cost is tracked and redirected into a digital savings wallet. That balance earns 14.3% interest, a rate backed by Nigeria’s treasury instruments and symbolically tied to an Oxford study on breastfeeding’s developmental benefits.
“The 14.3% interest is sustainable within Nigeria’s economic climate,” Camille explained. “Herconomy—already known for empowering women through financial education, savings, and investment tools—leverages these instruments to offer a secure, meaningful return.”
But even more powerful than the yield is the shift: The unpaid is now acknowledged. The invisible is now visible. The everyday labour of care? Given its financial due.
Built with Mothers, Not Just for Them
This product wasn’t built in isolation. It developed from numerous genuine conversations with Nigerian mothers, and not just about budgets and feeding routines, but also about myths, expectations, and unspoken challenges.
Tanvi Phalak, who led much of the cultural research, shared:
“The biggest challenge was translating a deeply emotional and cultural act like breastfeeding into something quantifiable without making it feel cold or clinical.”
She went on to explain that the team partnered with experts like Dr. Lope Adejuyigbe from Nigeria’s BestFeeding Club, Titilayo Medunoye, and journalist Ogechi Ekeanyanwu to bridge insight with respect.
“Their guidance helped us understand how different communities view breastfeeding and what the barriers were —and ensured the product was not just technically smart, but culturally grounded and emotionally respectful.”
Even more telling were the testimonies that surfaced during research and filming.
“Some mothers shared that they believed the formula was ‘better’ and more modern,” Tanvi recalled. “Others told us how they went against family expectations to continue breastfeeding—pumping, storing milk, and juggling work—because they believed in its long-term value.”
“One mother said she was constantly stressed about money because of how much formula she had to buy each month,” she added. “That moment hit hard—it made us realise Breastmilk Money wasn’t just about savings, but also about relieving invisible mental pressure.”
Financial Feminism, Nigerian Edition
Herconomy isn’t new to this game. As Nigeria’s first fintech company for women, it has been redefining how women save, invest, and grow wealth on their own terms. But Breastmilk Money goes further: it reframes motherhood as not just a private act, but a public contribution worthy of economic respect.
“Breastmilk Money fits seamlessly into Herconomy’s broader mission to close the gender wealth gap in Nigeria,” Camille said. “By turning an overlooked part of women’s lives—breastfeeding—into a source of measurable financial growth, Breastmilk Money challenges traditional models that ignore unpaid labour and care work.”
That challenge also opens doors.
“At the intersection of maternal health, behavioural economics, and digital finance, we see major untapped potential,” she added. “Very few financial products are built to reflect the realities of caregiving, informal work, and gendered expectations.”
This Is What Innovation Feels Like
It doesn’t always come with big data or dashboards. Sometimes it starts with a mother, her child, a quiet kitchen at dawn—and a product that whispers, “I see you.”
Dr. Lope Adejuyigbe, who is also a Medical Doctor, Lactation Consultant, and founder of The BestFeeding Club, summed it up beautifully:
“BreastMilk Money addresses a big challenge I often witness: the economic pressures that lead mothers to choose breast milk substitutes and the health consequences that follow.”
“What I love about the product is that it bridges healthcare with financial empowerment.”
And that’s what this product is about: not pushing women toward one choice over another, but simply recognising the labour they’re already doing and making space for it to grow something bigger.
If this is where Herconomy starts, just imagine where they’re headed. Because when we give value to what’s been dismissed… we build a world that finally makes sense.
