Women Access to Finance
Samaleng is one vibrant cooperative in the Kola Tree Community where ActionAid implements its urban Local Rights Programme. This group has been saving their monies and have got so much benefit from these savings.
I will use this money for my Children’s Education and then add to my Petty Trading” Isatu happily says
Isatu Turay, a mother of 10 Children (6 Girls, 4 Boys), is one beneficiary. She receives Le 3,000,000 ($300 approximately) in this share out.
“I will use this money for my Children’s Education and then add to my Petty Trading” Isatu happily says.
Before the formation of this group there were huge challenges faced by these women. Ranging from access to loans and the possibility of having their monies back when they use to keep their monies in a cooperative bank.
“Our first disappointment was not to receive our cash that we were keeping in a cooperative bank” Isatu Informs
Amidst all these Challenges this gave them the idea of forming the savings group and then approached ActionAid for training in Savings which was done. To date the group has got two successful shares out of which the 57 Women in the group have benefited a lot.
“I received Le 1,800,000 in my first share and Le, 2,850,000 in the second share out” Isatu again. These women are determined to take the savings business to another economic level. They are planning on investing in big businesses like bakery and others that will give them cash which they will be contributing to the Group and use on their business and the house.
ActionAid will continue to build their capacity of small scale business so that they can empower other women around the community.