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Savings and Credit groups

Traditionally a part of the Literacy and Financial Education programme, some provinces are now developing this aspect into a transformational Savings and Credit programme

The overall aim for countries using this programme is to break down the barriers and challenges faced by women when dealing with money and finances. It aims to raise their social and economic status, resulting in them having more of a say in their households, and helping to create women entrepreneurs.

The long term changes that the programme achieves are: 

  • Participants increasing their incomes, starting small enterprises and becoming more independent 
  • Women being able to use their newly acquired budgeting and savings skills to improve their families' wellbeing as well as their community. As well as financial benefits, participants start to see cultural change and as a result, able to do more to support their communities and themselves
  • Women being more financially literate and being able to start or develop income-generating activities
  • The skills learnt and businesses formed stay within the communities and are passed on to family and other community members

Through the programme we have seen that women's statuses increase within their communities due to them becoming more financially independent and self-reliant. As well as the financial benefits, it is our goal that participants will start to see cultural change and as a result, they will be able to do more to support their communities and themselves.