Savings circles were created to stop a begging mentality and encourage our women to save. Women are encouraged to save 1000shs per week (about $0.30). They are able to leverage these savings for larger expenses.
It has helped the community to think beyond their current way of life. We encourage savings as a way for the women to potentially move away from the slums into a healthier environment.
So far we have seen women use their savings to improve their housing situations and pay for school fees.
Dina Duraru is one of the women who has been saving with us. She lost her husband and has five children. Although her income is very low she is able to save a little each week. Saving is giving her hope to one day start a business that will support her business.
The saving circle which began with 30 member women right now it hosts 300 women, and we meet twice a week, that Is Monday for those in Mulago and Wednesday for those in Katanga slum.
Goals and Expansions: Support women in their savings circles, educating and encouraging healthy and stabilizing financial choices.