Economic Empowerment

1. Village Savings Groups

The organization utilizes the Village Savings and Loans Association (VSLA) methodology to promote economic empowerment among the target population. The model is a low-cost financial service founded on the principle of fund pooling, designed to serve the very poor whose income is irregular and who may not be able to get services from microfinance institutions due to the unavailability of the services in their localities. The model comes in handy for women, men, and young people in the villages as they can come together to save, borrow loans, and repay at an agreed interest rate. This enables them to initiate income-generating activities that meet the day-to-day needs of their families. Once communities have embraced the savings culture and have access to financial services at that level, they are then organized into common interest groups, equipped with the knowledge and skills needed for them to initiate and manage viable businesses and other economic ventures.

2. Entrepreneurship

By fostering local businesses and ventures, rural entrepreneurship creates employment opportunities & stimulates economic growth. These businesses not only generate income for individuals and households but also contribute to the overall economic vitality of the region. Furthermore, entrepreneurship encourages innovation, diversification of economic activities, and the creation of value-added products and services. By empowering individuals and communities to harness their skills and resources, entrepreneurship acts as a catalyst for inclusive and sustainable economic development, benefiting both the rural population and the wider society.

Impact

• Existence of 250 functional Village Savings Groups

• 5183 members directly reached through the savings groups (4665 women & 518 men)

• Young people below 35 years reached are 2073

• Existence of 12 Operational clusters for better coordination of interventions

• 12 Field Officers trained to provide continuous training and supervision to the savings groups