A local non-governmental organisation (NGO), Chikondano Women Allied, says it is impressed with the operations of village savings and loans (VSLs) nationwide.
Speaking on Friday when she opened a day-long knowledge sharing and best practices workshop on VSLs in Ntcheu, the NGO’s executive director Nakanga Mlamba said VSLs continue to contribute towards women economic empowerment and improve households’ livelihoods.
“VSLs have created platforms for women to be participating in strengthening the country’s economic development at grassroots level,” she said.
Mlamba said VSLs are locally formed and managed by their members; hence, their lending rates are reasonable compared to some financial lending institutions.
A member of Madzanje VSL, Agness Chagwa, in an interview said with a loan which she got from her group, she managed to buy six bags of fertiliser, iron sheets and a sofa set.
She plans to buy a solar panel this year.—Mana