Women’s empowerment is a topical discussion. Economic empowerment is ever a deeper conversation of late.
Village Savings and Loans Associations (VSLA) are community based financial groups that provide women with access to savings, loans and a support network. These groups empower women to take control of their finances, invest in their businesses, and improve their livelihoods, leading to financial independence.
Beatrice Medu, a cocoa farmer in the Ashanti Region, is proof of the power of VSLAs. She is a participant of our Women for Change project and a member of the Boafour VSLA. Prior to joining the VSLA, Beatrice was not financially independent. Now, through the group, she was able to access loans that enabled her to take care of her medical expenses, start a milling business, revamp her cocoa farm and expand into rice farming, easing the financial strain on her household.
Beatrice’s journey demonstrates that when women have access to financial resources and support networks, they can achieve economic independence. Let’s continue to advocate for financial inclusion and invest in women’s economic empowerment to create more success stories like Beatrice’s.
Source: Care Internationa