Village Savings and Loan Associations (VSLA)
• Description: VSLAs are informal community-based savings groups where members save and borrow money from the collective fund. These are popular in rural areas of Africa.
• Success Story: CARE International’s VSLA model has been adopted across sub-Saharan Africa, leading to significant improvements in financial access and economic development for rural women and farmers.
• Key Features:
• No need for external capital or banks
• Encourages saving habits
• Transparent management of collective funds
• Profits from loans are distributed among members at the end of the cycle
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