Plan Ghana, an international child and women centred community development organization, has identified Village Savings and Loans Associations (VSLA) as a major tool to encourage economic independence amongst women in Wa.
A statement signed by Ms Felicia Nkrumah, Communications Specialist of Plan Ghana and copied to the Ghana News Agency on Monday, said the VSLA initiative would provide an opportunity for its members to contribute an amount of money on a daily basis and borrow from the group?s coffers to start or expand their businesses.
It said this would allow women, especially members of VSLA groups, to easily have access to sums of monies which, hitherto, they couldn?t have raised on their own.
It said as part of efforts aimed at promoting women?s financial independence, ?Plan Ghana has facilitated the formation of a total of 3,897 Village Savings and Loans Associations (VSLA) in the Volta, Central, Greater Accra, Northern, Upper West and Upper East regions of Ghana From 2009-2012.?
The statement said out of a total membership of 100,379 women made up of 82 per cent had benefited directly from the project.
According to the VSLA project manager, Mr Suleymana Gbana of Plan Ghana, the success of the project had propelled its partners, mainly Plan, Care and Barclays Bank to start a second phase of the project to run until December 2015. GNA