Empowering Resilience Through Community Savings in Monze, Zambia

Polite Masaka’s experience with the Manangwonzi Savings Group in Zambia highlights the impact of community savings initiatives. Members pool resources and lend money to build financial security, allowing for personal and communal growth. Ms. Masaka has successfully transformed her farm through this innovative model, demonstrating the effectiveness of collective action in overcoming climate challenges.

It is a sunny Monday morning in Manangwonzi, where Polite Masaka, a devoted farmer and grandmother, eagerly prepares for her meeting at the community center. She attends the biweekly gathering of the Manangwonzi Savings Group, an event that has profoundly altered her life in merely six months of membership.

As the secretary of the group, Ms. Masaka is recognized for her vibrant personality and fervent enthusiasm. However, her cheerful demeanor belies a serious approach to meetings. Members must remain focused, as she is quick to enforce a fine of ZMW 2 for any distractions. “This one hour is serious business,” she declares, underscoring the importance of their time together.

The Manangwonzi Savings Group employs an innovative savings mechanism, allowing members to pool funds, provide loans with interest, and reinvest in individual and communal projects. With a share costing ZMW 20, members can accelerate their financial growth; for instance, Polite has amassed ZMW 1,360 in savings and received ZMW 12,900, inclusive of interest, during the last share-out.

Ms. Masaka has utilized these funds to convert her crop-only farm into a dynamic mixed farm comprising 25 chickens, 7 pigs, 6 guinea fowl, and 10 goats—a remarkable transformation achieved within six months. “I always wanted to raise pigs, and now I can finally do it,” she expresses with pride.

In Monze, Zambia, communities are uniting to proactively confront climate shocks. Innovative savings groups have emerged, enabling residents to pool resources, thus establishing financial safety nets. This grassroots movement not only fortifies community ties but also exemplifies the effectiveness of collective action in bolstering resilience against climate change impacts.

The success of Polite Masaka and the Manangwonzi Savings Group illustrates the transformative power of community-led initiatives in addressing climate challenges. By pooling resources and fostering financial independence, such groups empower individuals and strengthen community bonds. This model exemplifies the critical role of grassroots organizations in enhancing resilience against the adversities posed by climate change.

Original Source: www.undp.org