Empowering Lives: Wacam’s VSLA Contributors in Ayensukrom Invest in a Brighter Future

In the small community of Ayensukrom No. 2, near Bogoso in the Western Region, a remarkable story of empowerment and transformation is unfolding.

Defying the odds, the women of Wacam’s Ayensukrom No. 2 Village Savings and Loans Association (uniting 3 VSLA groups) have joined forces to shatter the cycles of poverty and marginalisation, paving the way for a brighter future.

With a total of about 105 members across three VSLA groups, each consisting of approximately 35 women, this collective force is a testament to the power of unity and determination. Together, they are breaking down barriers and building a better tomorrow, one savings plan at a time.

Through the VSLA programme, these women come together to save money, borrow funds, and support one another in their financial journeys. Recently, the group distributed share-outs to its members, and the impact has been remarkable.

Investing in Education

Many of the women have used their share-outs to invest in the education of their children, recognising the power of knowledge in shaping a brighter future. Some have paid school fees and bought textbooks for their children.

Investing in my daughter’s education was a dream come true,’ beams Mrs. Joyce Osei, a member of the VSLA Group 1.

As a proud member of the Ayensukrom VSLA Group 2, Mrs. Osei joined the scheme in 2017. “What I love about the VSLA is the simplicity and ease of joining, as well as accessing loan facilities without cumbersome processes,” she noted.

With her share-out, she paid her daughter’s tuition fees until she completed senior high school, a testament to the impact of collective action on individual lives.

Moreover, her latest share-out of GHC5,950 (including GHC650 interest) has empowered her to expand her business ventures, purchasing a new fufu-grinding machine to complement her already established palm-oil production.

Joyce Osei used her share-out to invest in the education of her daughter and also to buy a new fufu-grinding machine to complement her already established palm oil processing venture.

Improving Livelihoods

Others have invested in income-generating activities, such as farming, trading, or small businesses. This has not only improved their financial stability but also created employment opportunities for others in the community.

According to Madam Juliana Mensah of Ayensukrom VSLA Group 2, she used part of her share-out to expand the sale of her local rice business and also a fraction to purchase a plot of land.

After joining the VSLA in 2017, I have since stopped taking loans from banks in the community while using some of the money to pay the school fees of my three children.

Madam Juliana Mensah has wisely utilised her VSLA share-out to expand her local rice business and invest in a plot of land, taking her dreams to the next level.

Helen Amo, a member of the VSLA Group 2, has experienced a remarkable transformation in her business fortunes since joining the scheme in 2021.

Initially, she struggled with limited capital, but after receiving a share-out of GHC5,000, she has successfully expanded her second-hand clothing selling business.

What drew her to the VSLA scheme was its flexibility and lack of stringent conditionalities, offering her the financial freedom to grow her enterprise.

With renewed confidence, Amo testified to the empowering impact of collective action on individual livelihoods.

Helen Amo’s second-hand clothing business is now booming, thanks to the financial empowerment and support received through the VSLA programme.

Enhancing Health and Wellbeing

Some members use their share-outs to improve their health and wellbeing.

They used some of the money to pay their hospital bills and medicines prescribed by the hospitals.

Yaa Baby who has been in the VSLA Group 3 for 7 years said she uses some of the money to cater for the medical bills of her family. “Thanks to the VSLA, today my family has been able to put up a four-bedroom house,” she happily disclosed.

Yaa Baby has successfully built an impressive four-chamber hall facility through her involvement in the VSLA.

Building a Brighter Future

The VSLA programme in Ayensukrom No. 2 serves as a shining example of the transformative power of collective action and financial empowerment. Through collaboration and mutual support, members are empowered to transform their lives and build a brighter future for themselves and their community.

Inspired by its remarkable success, the women enthusiastically praised Wacam, a human rights and environmental mining non-governmental organisation (NGO), for introducing them to the scheme, and eagerly encouraged others to join VSLA groups in their communities, highlighting the numerous benefits that far outweigh any challenges.

As the programme continues to thrive, its impact will leave a lasting legacy for generations to come, a testament to the

power of collective action and financial empowerment.

Source: Dennis A. Keelson