Women and young people from Traditional Authority Kachere in Dedza District, especially from the three Group Village Heads of Fosa, Kachere, and Mkhoma Wanthu 2, have been urged to join Savings and Loan Groups (SLGs), which hold the greatest potential to ensure their economic independence.
The plea was made by a Community Development Assistant from Dedza District Council, Kondwani Mapanje, during dialogue sessions on the importance of joining or forming SLGs, conducted in all the GVHs with support from IM Swedish Development Partner.
Mapanje advised young people and women to save their income through SLGs, where they could also obtain loans at lower interest rates, unlike going to loan sharks, whose rates are higher than fifty percent.
“I ask you all to tell a friend to tell a friend so that they join SLGs, which empower us economically as we are able to save our income, and if need be, we borrow money from these groups to boost our small-scale businesses.
“Please refrain from going to loan sharks; those ones will just make you poorer. Kindly utilise SLGs when you need a loan, join these SLGs or even form new ones. YICOD and we are here to assist you and ensure you benefit from being members of SLGs,” said Mapanje.
Samuel Bauleni, Agriculture Extension Development Officer (AEDO) under Lobi Extension Planning Area (EPA), concurred with Mapanje by citing himself as an example of someone enjoying the benefits of being a member of his workplace SLG.
“Savings and Loans Groups (SLGs) are very important, even in our office. Despite working, we have an SLG, and we are expected to share the profits on 5th November this year. I expect to receive around MK500,000.00. Let me tell you that there are many benefits to joining loan groups; please consider forming your own or joining existing ones,” he added at Mtengo Olembera in GVH Mkhoma Wanthu 2.
SLG dialogue session in progress at Maonde Court in GVH Kachere
One of the women attending the dialogue session, Agnes Chinam’balala from Pemba Village under GVH Kachere, said the session was an eye-opener as she would now mobilise other women to form an SLG or join an existing one if others hesitate.
“It is better now that the benefits of Savings and Loan Groups have been unpacked. It is very beneficial to join these SLGs. I will ask my fellow women in our village to form a Savings and Loan Group; if they hesitate, I will join an existing one for others to see and learn from me,” she said.
In his remarks, 17-year-old Llyod Chawerenga from GVH Fosa said he started a small business selling groceries using a loan from an SLG he joined early last year, and he no longer relies on his parents for other necessities.
“I always tell my friends that there are many benefits in the SLGs. I joined Msintha Moyo SLG last year, and now I have started a small business where I sell groceries such as soap, salt, lotion, cooking oil, soya pieces, and snacks like kamba puffs. I dream of owning a larger, reliable shop. I am urging young people who are not yet in SLGs to join now,” he said.
