Village banking, initiated under the Women Economic Empowerment Project in Mumbwa District, is making significant strides in transforming the lives of women. Spearheaded by We Effect Zambia through the Mumbwa District Women Association (MDWA), the initiative utilizes the Village Savings and Loans Association (VISLA) model to promote financial inclusion and economic growth among women.
MDWA Field Officer, Luckmore Njovu, emphasized that savings are a crucial component of the project, enabling women to build capital and invest in livestock and small businesses. “The VISLA model empowers women by providing access to loans without collateral, which has been a game-changer for many. It’s about saving according to their own capacities and expanding the reach to all 24 area associations in the district,” he noted.
MDWA currently manages 40 savings groups within the district, and the impact is evident. “This approach aligns with the core objective of the Women Economic Empowerment Project: to uplift the most vulnerable women by enabling them to control their finances and improve their livelihoods,” Njovu emphasized.
Elizabeth Muswela, a village banking member from Nambwa, shared her success saying, “We started saving on March 16, 2023, and raised K24,280. With my share, I ventured into Irish potato farming, which has been profitable for my family.” The current savings cycle, which began on January 6, 2024, has already raised K24,280, and she hopes the total will exceed K40,000 if all loans are repaid in full. “Savings have been a blessing—they support our households and businesses, and we are committed to keeping VISLA afloat,” she added.
Cecilia Sheleni expressed gratitude for the support from We Effect, SIDA, MDWA, and Heifer International. “Village banking is a lifeline for us. It’s like having a bank in the village without the need for collateral. The money circulates, making it accessible for everyone to engage in business and agricultural activities,” she noted.
For Mary Kaumba of Tatawanjasa Women Club, the project has been an educational journey. “Before joining, I knew nothing about business. Now, I understand how to develop a business plan and manage profits and capital, thanks to the lessons from MDWA. These entrepreneurial lessons must be extended to other villagers who lack this knowledge,” Kaumba observed. She added, “Being part of this has made accessing loans quick and easy. It’s not just about money; it’s about learning and growing.”
The success of the VISLA model in Mumbwa District highlights the need to expand this initiative. “We must broaden the reach to empower more women across all associations in the district. The impact is undeniable, and we are committed to making this vision a reality,” Njovu concluded.
This project demonstrates the power of community-driven financial solutions in fostering economic independence and resilience among women, paving the way for a brighter future in Mumbwa District.