Economic Empowerment
Background
In January 2014, WOPLAH implemented their Village Banking program by providing community support groups with a low-interest loan to empower community members with a resource to acquire funds for a variety of needs.
Background
Objectives
The Western Organization for People Living with HIV/AIDS (WOPLAH) has a communal pot of money which is used to lend to support groups in order to empower them with their own microfinance system. Once equipped with their own sum of money, support groups can then choose how to allocate funds; groups often lend out small, low-interest loans to members, use funds to support group needs and projects and support vulnerable orphans in the community.
Upon receiving a Village Banking loan, every group receives a detailed training by the Youth Financial and Loan Development Officer. Trainings cover topics such as savings, investment, group management, record keeping and entrepreneurship with the intention of ensuring responsibility and honest and productive use of funds. Additionally, the Ambassadors of Hope will conduct follow-ups throughout the year to monitor record keeping and proper bank account usage.
Objectives
The Future
Although this is the first year of WOPLAH's Village Banking program, they already have big goals for the future. WOPLAH hopes to establish their own community bank within the next 10 years.
The Village Banking project uses peer-to-peer learning to indirectly impact a large number of community members. The beneficiaries involved in Village Banking learn skills of financial literacy and how to save to sustain themselves and their families. These beneficiaries are encouraged to share their learning with their families and community members to spread the culture of financial literacy and stability.
The Future
