An NGO, Attah Sisters Helping Hands Foundation (ASHHF) in Bauchi state, on Saturday trained 70 women on how to access loan and save under the COVID-19 challenges in Dambam and Gamawa councils of the state.
Speaking at the opening ceremony, Mrs Comfort Attah, the Executive Director of the Foundation, said that there was need to give women sense of belonging in the face of the challenges of the lockdown.
She said that the 70 women who were receiving the training on knowledge and skills to access credit facilities are vulnerables and survivors of gender based violence in the two councils.
Attah explained that the training would dwell on the Village Savings and Loan Association (VSLA) Scheme to help face the challenges of coronavirus lockdown.
“A microfinance model was aimed to reduce poverty by financially and socially empowering poor and vulnerable women in the community.
“The VSLA provides its members a safe place to save their money, to access loans and to obtain emergency insurance.
“The strength behind the VSLA methodology is that it encourages a culture of saving among members who are required to save weekly or monthly,” she said.
Attah noted that the programme focused on women and their financial inclusion and to support household empowerment and economic activity.
“We facilitated the formation of the Association’s of women participant’s formed groups of 19 to 30 members, pooling money to create a fund from which members could borrow.
“With rates determined at the group’s founding, members pay back loans with interest, thus allowing members to also earn a return on their savings.”
The Executive Director said the village saving loan associations included a social or solidarity fund managed by the group to help members in need through interest-free loans or cash grants in case of emergency.
Responding on behalf of the participants, Malama Lami Aliyu, said they appreciated the NGO for selecting them to participate in programme.
“We are going to take a cue from the last group and associations that received their training last four months on how they benefited from their businesses,” she said.
She said that the training would go a long way in developing their skills in saving and acquiring knowledge on accessing loans to boost their business. (NAN)
– July 25, 2020 10:03 GMT |