The Savings Groups Project
Savings Groups (SGs) are a self-funding micro-finance model. Basically, SGs consist of 15 to 30 women and men (or boys and girls) who agree to meet regularly to save small amounts of money. Once the members have saved enough, they start lending to themselves.Click here to learn more about how these clubs work.
Savings groups (also knows as Village/Internal Savings & Lending, VSL/ISL) have been around in various forms for decades. Today, with improved methods for managing groups, modern Savings Groups are enjoying amazing growth and prosperity. ASAP has been implementing the SG methodology in Africa since 2001. The results are amazing:
Increased household income and economic activities
Increased household expenditure on essential services such as education for children, food, etc
Increased household access to cash assets and disposable income
Increased access to business capital for rural micro-enterprise activities
Increased women’s decision making , ownership and control over assets such as livestock, houses, land, cash assets etc
Reduced women’s economic dependency and vulnerability to gender based violence
Increased recognition of the roles of women in the local economic and livelihoods activities
Improved household resilience to external shock such as food insecurity
With first hand knowledge of the life-changing benefits for thousands of families, today we are eager to adapt the model to meet the needs of communities and youth in the US. Click here to learn more about our new work in the US.
To read more details about ASAP's SG projects in Africa Click here.
To learn more about Savings Groups, training manuals and resouces Click here.