Saving Circles are Succeeding

Saving circles have proven effective in combating poverty by providing members with the means to cope with emergencies, build capital, and create businesses that support genuine self-reliance. In March, one circle of 30 members comprised of teachers and community members and another circle with the high school students formed. The circles are already making an impact. 

Teacher Emma said, 

“thanks to the people who started the circle. If it wasn’t for it, I wouldn’t have built my house.” He says through his little income, he was able to get small loans which enabled him to construct his house as he plans his wedding in November.

Another teacher has gotten loans to pay tuition to further his education. He says, “I have so far acquired a loan twice which I have used to pay for tuition for these two semesters.” Hearing the success stories, a group of vocational students are ready to form a saving circle so that they will be equipped to start businesses upon graduation.

Students have saved more than a million and they have been borrowing the money and later paying their loans among only the group members. On the other hand, the salt group for staff had saved shillings 8,350,000.