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The Latest News from SaCoDe, September 2023

Education of identified women on entrepreneurship issues

During this period from May to June, in the education we gave to these women entrepreneurs, we insisted on calculating the interest for these women entrepreneurs; each woman entrepreneur must have a notebook where she mentions all the expenses related to her business and the income received and at some frequency, she will take the income and subtract the expenses and thus see if her balance sheet is positive or negative. This theme was a real revelation for the women entrepreneurs, as many of them were able to see that there were expenses that they were not accounting for.

Help us Empower Women, and Youth in Entrepreneurship education: Financial empowerment of youth and women
  • Access to information on financial education: There is a lack of knowledge about entrepreneurship among thousands of women and youth. The "VSLA" approach is taught to community leaders to raise awareness of the approach among the people (women and youth).

  • Grouping of women and youth in Village Savings and Credit Associations: Young people and women still face barriers to accessing funds for entrepreneurship. An affordable and secure source of financing is needed for them. Therefore, they are grouped into Village Savings and Credit Associations (VSLAs) of 30 members each. Once in the VSLA, these young people and women receive education, coaching, and support either in person or via SMS from an expert staff member. By taking out micro-credits at rates that are acceptable and favorable to them, they contribute to the financing of their own lives.

  • Creation of Income Generating Activities (IGAs): Through microcredits, women and youth can receive funds to invest individually or in groups. In addition, IGAs in groups allow groups to access banks and financial institutions to increase capital.

  • To motivate others to achieve better results, the best VSLAs can be funded for their collective projects.

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