Early Years Project engages women in village savings and loans
Early Years Project with funding from World Bank has trained grouping of women in Likoma District in Village Savings and Loans ((VSL) programme to ensure they are well versed in how best they could save and utilize their finances.
Speaking during the closing of the two-day training on Sunday, District Commissioner (DC) for Likoma, Eric Nema said the training was beneficial to the women as they have been equipped with skills and knowledge on income generation and how they could save and replicate their businesses’ proceeds.
“Since the coming in of Invest in Early Years Project, the district has experienced the mushrooming of VSL groups. This is good as it is an initiative which transforms economic statuses of people in the district,” he said.
Nema: the training was necessary in enhancing economic empowerment amongst VSLs- pic by Ireen Mseteka- Mana
Nema said through the in initiative, women have demonstrated that they have potential in managing their economic resources only that they lacked skills.
“They were already informal village banking groups but lacked skills, the need and relevance for this training,” he said.
The DC added that since the groups started in February 2022, some have saved up to K2 Million and expects the groups to continue doing following the training.
One of the VSL Promoters, Victoria Guja thanked the project for the training saying it was an eye opener for the women in the district.
"We have been meeting in our groups, but without proper knowledge on how best we can run such groups, now we have learnt a lot from the training, this will enhance our knowledge in managing our finances,” she said.
Guja advised the women to utilize the skills and knowledge gained be able to share the same with others who were not privileged to go through the training.