Projects

The Village Savings and Loan Association (VSLA) model creates self-managed and self-capitalized savings groups that use members’ savings to lend to each other. VSLAs are comprised of between 10 and 25 members and offer self-managed savings, insurance and credit services in urban slums and remote rural areas. The model has spread to 77 countries with over 20 million active participants worldwide. 

VSLAs operate independently, without additional technical support after 12-15 months. According to the VSL Associates, research in 5 countries over 5 years showed that 89% of VSLAs continue to operate and, on average, have doubled their capitalization. VSLAs have transformed marginalized communities worldwide, mobilizing local savings, which provide members with a means to cope with emergencies, help to manage household cash-flow, build a capital base and, crucially, re-build social networks, solidarity and trust.

The micro-finance industry has come to accept the place of VSLAs as an important part of the financial landscape, recognizing them as able to bring profitable and sustainable entry-level financial services to the rural poor, in their own communities, managed by themselves. 

Giving the above, and after receiving intensive training in The VSLA Methodology & SAVIX Management Information System from CARE International-Liberia, with sponsorship from ZOA International-Liberia, SHIFSD set out to train and began implementing various VSLA projects for different partners such as ZOA and EDC/Advancing Youth Project since early 2014.

Presently SHIFSD, with support and in partnership with ZOA-Liberia, is providing training support to 100 communities in Bomi, Cape Mount and Margibi Counties to help farmers and other community members to access loan and improve their livelihoods. The project focuses on basic training of Smallholder Farmers and other communities’ members on saving and financial management which is intended to improve their businesses and investment in other income generating activities.

Over a 26 month period, June 2019 to July 2021, SHIFSD will establish 200 Community Saving and Loan Associations (CSLAs) and Farmer Saving and Loan Associations (FSLAs) groups of 30 members each in the three counties.