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Novel approach to banking in developing communities

POSTED January 29, 2016

Novel approach to banking in developing communities

William Anim-Dankwa, CCFC Ghana communications manager, explains the importance of Village Savings and Loans Associations

VSLA box Ghana

A penny saved is a penny earned — that maxim is especially true in rural Africa, where it can be challenging to make enough money to meet basic needs, much less save. But discipline and accountability have changed the futures of participants of a community-run, CCFC-enabled initiative in Ghana called Village Savings and Loans Associations (VSLAs).

“For the two years this (project) has run, one group has been able to raise the equivalent of about $1,000, which earlier, one would have thought, would be inconceivable,” said William Anim-Dankwa, CCFC communications manager, Ghana.

Watch as William Anim-Dankwa describes how VSLAs are helping communities save for the future in Ghana.

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