Saving Together, Thriving Together: Women in Mangochi Build Hope Through VSLs
2025-02-05 06:30:19By Admin
As women strive to achieve sustainable economic development and gain access to financial services, Village Savings and Loans (VSL) groups offer valuable opportunities for rural and marginalized women. In polygamous marriage settings, many women shoulder the responsibility of managing the household on their own, with minimal support from their husbands.
This is particularly true for women in Traditional Authority (TA) Chowe in Mangochi, where most women remain economically disempowered, with little or no access to financial services to sustain their households.
In response, over 80% of women in GVH Chipole, TA Chowe are actively participating in 12 VSLs that began in 2016 with just two groups. By 2020–2022, more than 10 additional groups were established. In GVH Chipole alone, over 300 women are engaged in these VSLs, with an average net of over K5 million per circle in each VSL group.
The success of these VSLs is due to the support of several partners, including YODEP through the Majawa Project, in partnership with Malawi Community Hubs, who have provided capacity-building training in various aspects of VSL management. Thanks to this support, women have managed their VSLs diligently, enabling them to build better homes, support their children’s education, improve household living conditions, and establish small-scale businesses.
Additionally, the VSL groups have explored ways to multiply their savings through group businesses, such as buying rice in bulk and selling it at a later time.
