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In an effort to reduce poverty and foster local development, the Integrated Social Development Centre (ISODEC) in collaboration with the African-Asian Rural Development Organization (AARDO), have launched a project to enhance financial access for women and other vulnerable groups in the Sagnarigu Municipality of the Northern Region.
The initiative focuses on improving the quality of life in five communities within Sagnarigu through the Village Savings and Loan Association (VSLA) model, aimed at promoting community-led savings and financial independence.
The municipality, which includes both rural and urban areas, has its population dependent on agriculture, small-scale trading, and informal sectors. Despite ongoing development efforts, many residents face economic challenges due to limited access to financial services and employment opportunities.
On November this year, the ISODEC team held an inception meeting with key stakeholders at the Sagnarigu Municipal Assembly.
The meeting, attended by key stakeholders, aimed to brief the Assembly members on the project, discuss criteria for selecting participating communities, and identify active and dormant VSLA groups. The assembly’s support for the initiative was confirmed, with various departments, including Social Welfare, Agriculture, and Business Advisory Centre, committing to support the project.
Key objectives of the project include empowering vulnerable groups through financial literacy, group savings, and capacity building. The project aims to improve livelihoods by facilitating the growth of savings and the creation of small businesses, with the goal of fostering long-term resilience.
In response to concerns about managing large VSLA groups, recommendations were made to split larger groups into smaller units to enhance efficiency. The project’s next steps involve selecting communities based on specific criteria, including financial capacity and vulnerability, and forming VSLA groups that will receive training in savings, budgeting, and record-keeping.
The initiative promises to make significant strides in improving the economic independence and resilience of vulnerable groups in Sagnarigu, while contributing to the broader local development goals.
In a recent meeting held at the Sagnarigu Municipal Assembly, Head of the Department of Agriculture, Mr. Shani Abukari Aduwa, expressed gratitude to ISODEC and AADRO for selecting the municipality for the initiative and reassured them of the Assembly’s full support for the success of the project.
Speaking on behalf of ISODEC, Ms Agnes A. Gandaa, Coordinator, Northern Ghana Programmes –ISODEC, emphasized the importance of collaboration with community leaders and the Municipal Assembly to ensure the project’s effective implementation. She also thanked the Assembly for their ongoing partnership over the past couple of years.
Assembly members underscored the project’s potential to drive economic growth and reduce poverty by offering loans, encouraging savings, and facilitating financial literacy.
However, several challenges were identified, including poor record-keeping due to illiteracy, attendance issues, and group management difficulties. ISODEC agreed to address these challenges through targeted community discussions.
By:Mohammed Suleman/Publicagenda.news
