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Beneficiaries of VSLA in Dambam and Gamawa LGAs
By Akanji Alowolodu, Bauchi
Over N3.7million loan has been shared by rural women in Dambam and Gamawa local government areas of Bauchi State through the Village Saving and Loan Associations (VSLAs) scheme.
Programme Manager of Attah Sisters Helping Hands (ASHH) Foundations, Mr Kingsley Yalling, who coordinated the sharing on Thursday in Dambam local government area of the state said that it was aimed at equipping the women to be self-reliant.
He said that the Village Saving Loans Associations (VSLA) scheme is a microfinance model aimed to reduce poverty by financially and socially empowering poor and vulnerable people in the communities pointing out that, “The VSLA provides its members a safe place to save their money, to access loans and to obtain emergency insurance” .
Kingsley Yalling explained that 24 associations shared among themselves the sum of N3,754,535,00 from their 9 months savings with 8 groups from Gamawa and 16 groups from Dambam LGAs.
He added that, “So also, last year April, not less that 26 associations of Gamawa and Udubo communities, Dambam/IDP Camp, Gare, Dagauda, Yame, and Jalam communities of Dambam LGA, had share-outs their savings.
“Members can also borrow from the VSLA using their savings as collateral without necessarily having to sell their property or crop at a cheap price in times of need or emergencies”, he explained.
The Programme Manager, “By promoting a culture of saving through the VSLA, farmers can keep their crop during the harvest season and bulk together for sale at a higher price during the off season,”.
The Programme Officer further said that the VSLAs act as a financial buffer to rural women from which they can borrow for their urgent needs without having to sell their assets during hard times.
Mrs Maryam Gare, a beneficiary of the VSLA, said the scheme was the best thing that could happen to them as well as increase their financial skills in the community.
She said that, “Some of us received N15,000, others received N20,000, we will use the money received to rear goats and engage in other businesses to boost my business, we don’t need to go look for money somewhere” ,
Maryam Gare also said that, “We get petty loans from the group and it has improved our business as well as increased our income” .
Maryam Gare then said that the Association also donated their social funds amount for community development, purchased cartons of chalks for Schools, and renovated Healthcare centres in their various communities.
ASHH Foundation established VSLA, in Dambam and Gamawa LGAs communities with support from ActionAid Nigeria, and funded by Global Affairs of Canada.
