The Kautal Hore Village Savings and Loan Association (VSLA) celebrated a landmark achievement during their annual share-out event. The group, established four (4) years ago by women Empowerment Initiative (WEIN) during the implementation of Oxfam-Livelihood and Nutrition Empowerment (LINE) project in Lanzai Community of Darazo LGA Bauchi State, to empower its members through financial inclusion, reached an impressive milestone with a total loan fund exceeding 7 million Naira from a share value of 2,000 naira per share.
With 25 committed members, the group has steadily grown by fostering a culture of savings, mutual support, and financial accountability. This year’s share-out event marked the end of their 4th cycle VSL scheme and was a testament to their hard work, as members gathered with excitement to reap the fruits of their efforts.
Fatima Usman, a founding member who doubles as the secretary of the group, shared her joy, saying, “Through the VSLA, I was able to take loans to expand my small business. Today, I am not only debt-free but also having significant savings.” Many others echoed similar sentiments, citing improved livelihoods, better access to education for their children, and investments in agriculture and trade.
The share-out saw members receiving returns on their savings alongside dividends from interest accrued on loans. For many, this was a financial windfall, enabling them to plan for the future with confidence. Amina Bello, the group chairperson, expressed her gratitude, noting that the group’s strength lies in its unity and discipline.
The over 7-million-naira milestone represents not just financial success but also the transformation of lives. The group is now exploring opportunities to invest in community development projects, ensuring that the ripple effect of their success extends beyond the members.
As the event concluded with deliberations and renewed commitments, the Kautal Hore VSLA stood as a shining example of how collective effort can drive prosperity. This share-out marked not just the end of a cycle but the beginning of even greater possibilities. And the group decided to in its next cycle which will be starting in not more than three weeks’ time to review up her share value from 2,000 to 4,000 naira to enable them have enough fund for loan disbursement and investment.
The group thanks Women Empowerment Initiative (WEIN) for initiating this scheme in their community and for taking their time to nurture the group to what it is today. Also pleaded that other groups around should also be given such attention so that all together they can drive poverty out of their household and community at large.
