Part of the entrepreneurial training that we provide includes financial literacy classes. Our mentors teach these women how to manage their incomes, get out of personal consumer debt, and save for the future.
In May 2019 we started our “Savings Box” program. Our in-country program directors used grant funding to purchase these metal savings boxes.
Many of these women start with about 2 cedis which equals about 3 US cents. They are starting small, and saving even that little amount, is a sacrifice.
These locked boxes are kept in a secure place within their tribe. These savings boxes are more reliable than a “foreign” bank, and more accessible because of their remote location. There is great esteem within these villages. They do not steal from each other and they trust one another. These “savings boxes” are respecting their culture and their customs.
With savings brings peace of mind for the first time for some of these women. They do not have a spouse, partner, or a husband to support them when times get tough when droughts or natural disasters occur, or if sickness plagues their family.
These women feel better prepared and ready to face the future.
Our CEO visited these tribes and mentoring groups in March 2020. These savings boxes are working. The women are actively adding to their savings.
During their weekly meetings, these women take turns adding to their savings. They are making great progress and truly have the desire to better their circumstances.