Rural Women in Bauchi state have said that they had been economically empowered by the Village Savings and Loan Association (VSLA) scheme to improve their livelihoods.
VSLA is a scheme that brings together community members, who save for mutually agreeable objectives and take out small loans from those savings to expand their businesses.
Some of the women beneficiaries, from Dambam and Gamawa, told on Wednesday, in Bauchi, said that VSLA was the best scheme that had improved their livelihoods.
Mrs. Fatima Mohammed, one of the beneficiaries, said VSLA had been very beneficial to many of them in their villages.
“During the share-out for this cycle, I contributed N15,000 and received N30, 000. My plan is to reinvest this money on my farm and buy goats to rear.
“I never had such a huge amount of money, that keeps me always busy and engaged in financial transactions.
“With this, I have the opportunity to provide for the family of 14. I am supporting my husband with children’s clothes and school fees.
She commended Attah Sisters Helping hand (ASHH) Foundation and ActionAid for providing the skills and the financial structure to them in their community.
Mrs. Rakiya Aliyu, another beneficiary, said through VSLAs, women were able to save, access credit, and start their own businesses.
“I joined the scheme in my village, took an N57,000 loan from my savings group in the share-out to start my own business. I bought a refrigerator and local drinks to sell in the market, schools, and public places.
“Honestly, I don’t know how to start thanking this ASHH that used their time to come and train us on this VSLA,” she said.
Malama Hadiza Katagum explained that she had experienced economic empowerment.
Village Savings: Bauchi rural women share over N3.7m loan
“If a woman is empowered economically, she can own some land, with the land she has collateral, she has an asset, she can make informed choices and be more in control of her own and her family’s life.
“She won’t let her daughter get into a situation where she could be trafficked or married when she is still a child.
Katagum collected her share of the money and bought a sewing machine with the savings of VSLA.
“Sometimes ago I learned how to sew, but I did not have the money to buy the sewing machine but thanks Allah, immediately after the share-out for the sewing machine,” she said.
The Programme Officer of ASHH Foundation, Mr. Kingsley Yalling, said the major objective of establishing the VSLA scheme was to support local economic development through financial intermediation.
He said VSLA provides a simple and accountable system for savings and loans for communities that don’t have access to formal financial services or are underserved by formal financial institutions.
“To help the rural women diversify their livelihood activities, especially those who depend mostly on farming and the exploitation of natural resources,” he said of the scheme’s objective.
He said over 1,000 women had benefited from the training and skills provision of the VSLA in Dambam and Gamawa Local Government Areas, through the support of ActionAid Nigeria with funding from Global Affairs of Canada.
