Active promotion and training, mobilizes communities to engage in ‘Income Generating Activities’ (IGA) that enable them to become economically sustainable.
STRATEGY AND ACHIEVEMENTS:
Group Savings & Loans (GS&L) IDEWES empowers communities economically by providing training on Group Savings and Loans (GS&L), a community managed micro-finance scheme intended to improve economic resiliency among micro entrepreneurs. Training is also provided on Selection, Planning and Management (SPM) which underlies the start of Income Generating Activities (IGAs). IDEWES currently monitors 20 groups (with a total of about 200 people) in the Group Savings & Loans scheme.
Members, primarily women, meet each week to contribute savings to a pooled fund from which loans can be made to other members for their IGA development, providing additional capital for their diverse range of small businesses.
Members also benefit from continuous monitoring and evaluation by IDEWES staff. IDEWES has trained and supported a total of 50 groups to date, 20 of which have become self-sustainable and independent of IDEWES and reinvested into their growing IGAs.
Micro finance scheme IDEWES has also recently introduced a micro finance scheme which it is yet to implement. As GS&L members grow their IGAs, success of their businesses leads to larger amounts of credit required by them to fund business growth. IDEWES has successfully developed the capability to provide this credit to its members. A proposal for implementation is currently being developed and our first loans will be issued before the end of 2011.