One year of Savings and Loans

    

 

We are very happy to celebrate ONE YEAR since we started the first Savings and Loans group in the Kuta Lombok area, last October 3rd 2011. Since then we have seen how the women slowly progressed in running their own groups and have voluntarily initiated a word of mouth promotion of the methodology, based on their personal experience, bringing more women of different villages on board!

To date we have started a total of 7 Savings and Loans groups in Kuta Lombok area with a total of around 150 women who have saved almost 28,400,000Rp (around 2,840US$) altogether, and given over 60,000,000Rp (6,000US$) in loans, more than twice  the amount saved. Additionally, they have already gained a total of almost 4,000,000Rp (400US$) in interests, which will be shared among all the women group by group and according to the amount of savings:  

             

Ujung Group (30 members) - Oct. 2011

Kuta Pakan Group (25 members) - Nov. 2011

Baturiti Group (24 members) - Dec. 2011

Bangkang Group (18 members)  - Mar. 2012

Aiklengis Group (26 members) - Apr. 2012

Makar Indah + Bunlesung (14 members) - Aug. 2012

Banyu Urip (16 members) - July 2012

             

-     Loans are mainly being used to:

i)              Invest in capital money for small businesses already available (like fish selling, small food stalls, growing chickens, renovations in shop, etc).

ii)             Pay for school and/or University expenses.

iii)           Start new businesses and to pay for medical expenses.

The methodology has already allowed for the women to borrow around twice the money saved, confirming the increased power of the group vs. the individual. Except for isolated cases, we are very surprised to see the level of commitment, trust and responsibility in all groups. Also, we are happy to see how the oldest groups with more than 6 months experience with the methodology are already flying solo with a minimum supervision needed. Great news in order to achieve our objective of Self-Sustainability!

We are currently in the process of analyzing the impact of the KAF methodology in the lives of these women 1 year after, using qualitative research methodologies, like FGD's (Focus Groups Discussions) and In-Depth Interviews. Our team member, Karolina Jackson will be in charge supported by the University of Stockholm. This will provide us with better understanding on the positives and negatives of KAF, the modifications required, the impact in the lives of the women (individually, in their family and in their community), and how to proceed in the future to ensure sustainability.

Bersahara team is very happy with the results achieved to date, very proud of the involvement and enthusiasm shown by the women and their commitment to lead their own empowerment process and support each other. 

CONGRATULATIONS TO ALL AND SELAMAT SIMPAN PINJAM!