Adjohoun December 2009


Post: Adjohoun
Dates of Project: 02/12/09-02/12010

Brief Project Description:

I have started a Village Savings and Loans group with residents of my quartier. Participants will pool their savings together and place the sum in a collectively-owned cash box. The sum will then be used as a fund which can be loaned out to members of the group in order to finance income generating activities. Loans will then be repaid to the fund with interest. This collective savings scheme will allow each member of the group to financially leverage their savings against those of the other members. At the end of the period each member will recieve back their savings along with their prorated amount of earnings from interest accrued on loans.

Number of People Involved: 5 men and 13 women are taking part in the association. All participants are adults over the age of 30. Our management Committee is composted of 3 men (President, Secretary, Key Guardian) and 3 women (Treasurer and 2 Key Guardians). The remaining members make up our General Assembly.

Item Number Cost
Cash box 1 15.000 CFA
Calculator 1 6.000 CFA
Ruler 1 350 CFA
Ink Pad 1 1.000 CFA
Pen 2 200 CFA
Stamp 1 1.500 CFA
Paint of Cash Box 1 3.500 CFA
Total Cost 27.550 CFA

Amount Requested: 25.000 CFA


I would recommend anyone wishing to form a similar type of group to plan on spending a good deal of time explaining the share purchase process. Participants, at first, did no seem to appreciate the necessity of recording the purchase of shares instead of the franc value of their savings. Make sure to explain that this will ease the distribution of savings and earnings at the end of the cycle.

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