How a Village Savings and Loan Program Helped a Woman to Build a Home for her Family

Judith Akello was introduced to a VSLA (Village Savings and Loan Association) Program that was sponsored by WNSP in 2018. She registered as a member with Obanga Akica women’s saving group (one of the many WNSP supported groups). She started saving regularly every week and was able to save 700,000 shillings (about $200 USD) that year from her monthly salary as a surveyor, which was also used to buy food for her family, help her husband pay part of her son’s school fees and buy other things for their home.  The first year she was not eligible for a loan because she had not gone through empowerment trainings by WNSP that focuses on unleashing potential through a program called: ”what a man can do a woman can do the same or even better.”

In 2019 she was able to secure a loan of 6.3 million UGX (about 1700 USD) and started construction on a 3 bedroom house. The reasonable interest rates charged by the VSLA as compared to the very high rates charged by banks (if one can even get a loan) allowed for an affordable payment which she was able to cover through her current income. All through the process of construction, she continued to save money, on top of paying for the loan as she had seen the power of saving her money with the VSLA.  This initial loan provided sufficient funds to pour the foundation and build the exterior walls to this new home.

In 2020, after paying back the previous loan on time and with interest she borrowed an additional 5.2 million UGX from the group, which was granted to her because of her timely payments on the original loan. This loan was used to complete the interior walls and roofing.  She paid back this loan in just one year.

This year (2021) she has continued to add to her savings and has taken a loan of 2.6 million UGX to continue with the construction of her house. She is so thankful to WNSP for developing these highly impactful VSLA’s to organize women to save and invest in productive endeavors with their savings and empowering them with the means to acquire productive assets normally owned by men, such as land or buildings.

The initial support from these VSLA initiatives helps women to meet their personal and household needs by education and training that provides an income sufficient enough for the family’s basic needs like food and education for children. Once this financial foundation is laid, the VSLAs ensure a self-sustaining cash flow through investment in income-generating activities within our group members.