By Levie Chiwenda
The Village banking system commonly known as Village Saving and Loan (VSL) continues to unleash magic spells as women in Tradtional Authouty Tsabango in Lilongwe are now dreaming big after accumulating huge sums of money.
During the last share out event at Group Village Nkhulawe in 2012, Chikondi VSL Group accumulated K580, 000 ( about $1, 450) and Elizabeth Lemani got the highest share of K62, 000 (about $155) and the second highest share went to Rose Shaibu, who got K60,000 (about $150).
Elizabeth and her cow |
Elizabeth, 50 and divorced bought a cow for milk and four bags of fertilizer which she used to harvest 40 bags of maize during the 2012 and 2013 agriculture season, the highest achievement for a single woman at an advanced age. Rose shaibu, also divorced bought six bags of fertilizer and harvested 48 bags of maize and she has kept some to be sold during the anticipated hunger period between December 2013 and February 2014 when maize price goes up.
Rose Shaibu at her house |
ADRA Malawi, through the Action for Social Change Program has facilitated formation and is supporting 56 VSL groups in the area and with success records reported, more VSL groups are mushrooming through village agents. On average, women membership in the groups constitutes 90%.
Members of Chkondi VSL display cash during share out |
The outlook of the village communities is now changing as the banking system has revived hope for quick economic recovery and is seen as the best method of rising women self esteem.