Rising Fountains Development Programme (RFDP) has strengthened 140 Village Savings and Loan Associations (VSLAs) in Lundazi with the support from RUFEP.
Last year in July 2019, RFDP received a grant from RUFEP under the Community Based Financial Institutions Linkages window of the Innovation and Outreach matching grant Facility.
The grant agreement provides support for RFDP to build capacity of VSLAs in Lundazi and link them to Madison Finance.
The linkage with Madison Finance is expected to digitize linked groups which will access financial services such as savings and loans through mobile phones.
Speaking when a RUFEP Team visited VSLAs supported by RFDP in Lundazi, Project Manager Maxwell Mwenda Kakwisa said the project has strengthened 140 VSLAs and trained 18 Community Based Agents (CBAs) in readiness for the linkage with Madison Finance.
Mr. Kakwisa said the Community Based Agents (CBAs) are members of the VSLAs and were trained to support their groups on the use of mobile phones for digitized groups.
“Beyond savings and sharing, we have remobilized the 140 groups with a total membership of 3,006 in readiness for the linkage with Madison Finance. The groups are very much excited and keen to linked”, Mr. Kakwisa said.
He added that to start with, 10 groups have so far been trained by CBAs in readiness for the linkage with Madison Finance.
And speaking during a meeting with VSLAs in Kakumba area, RUFEP Programme Coordinator Michael Mbulo said RUFEP aims to promote access to sustainable financial services by poor rural men, women and youth through implementing partners such as RFDP.
The RUFEP team visited VSLAs supported by RFDP in Lundazi on the 27th and 28th January 2020.