- Women led Village Savings and Lending (VSL) groups:
Our VSL activities have enabled and empowered marginalized rural unbanked women to access and use savings and loans to invest into small-scale businesses, household improvements, asset-building and education needs of their children. It is empowering rural marginalized women to play an increased economic role in their respective homes and communities, also resulting in an increased social inclusion in the long term.
The VSL-groups are savings-led, which means that the members themselves have to save money together to create a credit fund. This approach creates local ownership and therefore increases the success rate of the groups. To date, Footsteps Africa has enabled 230 rural unbanked women to access and use savings and credit.
Impact of Footsteps Africa’s Savings and Lending Groups
- Reduction in women’s economic dependency and vulnerability to gender based violence relationships
- Increased women’s decision making, ownership and control over assets such as livestock, houses, land, cash assets.
- Increased recognition of the roles of women in the economic and social spheres of their communities
- Increased recognition and respect for women’s rights
- Increased women’s financial literacy skills
- Improved women’s resilience to external shock such as food insecurity and HIV and AIDS
- Increased household support and improvement e.g. children’s education