Village Savings and Loaning
This initiative targets community members, actively involved in petty trade and subsistence farming by creating an income and alternative livelihood options. Targeting close to 100 beneficiaries the initiative encourages group savings by contributing Kshs 20 per person with Kshs 10 for development loans repaid at an interest rate determined by the groups, Kshs 5 for welfare and Kshs 5 for emergencies and other issues. The grants are used for business loans and education with women currently involved in small business and starting to live decent lives. The initiative also aims at establishing a revolving community fund where the larger community will be able to access soft loans at reasonable interests.
The women are trained on group dynamics, leadership, the concept of savings and loaning, business management skills .The groups save for a period of one year and thereafter use the proceeds to start small business there by reducing the limited resources, sex for fish menace and widow inheritance, asset control and ,hence reducing the impact of HIV/AIDS in the lake region. We also intend to start school savings clubs for the children economic empowerment.