COVID 19 has caused huge impact on self- help groups, village savings and loan associations, merry go rounds and table banking initiatives. Through the Qivuli COVID 19 program, we are rolling out a custom digital platform that will reorganize such groups and initiatives to resume their socio economic activities with the possibility for improved socio economic outcomes.
Village Savings and Loan Association Groups exist across the country in diverse forms. Before the pandemic these groups would meet every week to contribute savings and allow members to borrow from the weekly savings contributed. Group members contribute savings for a whole year with savings kept in a home safe box to be broken at the end of the year so members can share out the accumulated savings before the next annual savings cycle begins.
The good thing about the different types of self-help groups and table banking initiatives is that they are village or estate based and the members easily meet each week to discuss welfare issues, contribute savings and access credit.
At the end of the year members benefit from accumulated savings during the share out.