City Dispatch: Kisumu, Kenya
The Power of Group Savings: Manyatta’s GS&L Program Proves Beneficial
MCI-Kisumu’s Group Savings & Loan (GS&L) program in the informal settlement of Manyatta has been remarkably successful to-date, with eight groups comprising 123 participants, all of whom have participated since the program’s inception last December. At each weekly meeting, members are required to purchase 1-10 “shares” at a price set by the group. The savings are kept in a loan fund from which members can borrow up to three times their individual savings, as loans they then repay at a monthly rate also set by the group. Each group maintains as well a separate “social fund,” as a safety net enabling group members to cover emergency needs and costs.
At the end of the program’s third quarter, participants had saved a cumulative KES 1,128,905.00 (USD13,767), with loans totaling a remarkable KES 1,103,893.00 ($13,462), more than four times their reported cumulative savings (KES 258,900, or roughly USD3,000) at the end of the first quarter. At year’s end the accumulated savings and the loan profits will be “shared out,” or distributed back to members.
MCI introduced, financed and organized training for this program and has fostered engagement and enthusiasm among participants and other community stakeholders, particularly for the use of mobile phones in recording data (“e-recording”) and making secure bank deposits.
The Manyatta GS&L program has had a powerful influence on participants by rendering financial services accessible – for many group members, for the first time. Beneficiaries have cited significant anticipated gains in their household incomes and have already made use of recent loans to expand their own businesses and provide for their families. Having demonstrated its advantages for participants and the community as a whole, MCI-Kisumu’s GS&L program is slated not only to continue in Manyatta after MCI’s close, but also to expand – signaling a powerful program, indeed.
City Dispatch: Accra, Ghana
Streetlights Installed in Nima East, Responding to Girls’ Forum
Earlier this year we reported on a forum MCI helped facilitate for girls in the Nima-Maamobi East neighborhood of Accra, Ghana, moderated by MCI partner Volunteers in Community Empowerment, or VOiCE. Participants discussed issues of concern in their community, proposing, among other things, that streetlights be installed to improve nighttime safety.
On October 20, MCI-Accra Project Manager Joe Melara and our VOiCE colleagues helped install 20 community streetlights in Nima East, after touring the neighborhood together with the local Accra Metropolitan Assemblyman to determine where they should be placed. We are confident that the lights will contribute to residents’ improved sense of security, making it easier for girls and women to return home from school and work after dark.
Also in October, with MCI’s support, VOiCE hosted an ICT Training seminar for NIma-Maamobi girls and young women, all of whom received certificates of completion from Accra’s National Vocational Training Institute.