Samata Becomes Financially Independent through Savings Group
Samata Mohammed, mother of four children is a dedicated member of the Buyaso Savings Group in Kabampe Community, West Gonja District in the Northern Region of Ghana.
The Savings Group and Loan Scheme is a rural savings group introduced by World Vision in its targeted areas to provide basic financial services in rural communities.
Before Samata joined the savings group, she used to work on farmlands as a manual worker and after harvest, glean farms to be able to gather grains to cater for her children. Her children had to go to school in tattered clothes, without footwear and return home sad each day due to the mockery and insults they received from their peers at school. “It was difficult for me to buy learning materials like pencil, pen and exercise books for my children” Samata said.
Two years ago, World Vision introduced the Savings Group and Loan Scheme in Kbempe, Samata’s community. She decided to join the newly formed Buyaso savings group with an initial share cost of GH₵170.00 (US$48.00) successfully saved at the end of the first cycle of 12 months. She used this capital to trade in yams which sells fast in her community.
“Thank you World Vision for positively changing our lives”
Samata has over the past 12 months raised her accumulated savings to a colossal amount of GH₵552.00 (US$157.00), an over 300 percent increase on her original capital, which she uses to support her family. As a right standing member of the group, Samata aside having access to the loan, also benefited from the mutual fund savings at all times to address urgent household issues.
“I thank God and I’m happy to share with you today, that my life and also the lives of my children have changed. They now have all it takes to go to school and I hope that in the future, one of my children will become a teacher” Samata said. Her children now have school uniforms, footwear and their basic school supplies and fees provided. Samata beamed with smiles as she testified how the savings group has transformed her life. “Aborisanga World Vision nbi” She exclaimed, meaning “God bless World Vision”.
“Thank you World Vision for positively changing our lives” were the words of a song by the members of Buyaso savings group in Kabampe community; West Gonja ADP to welcome WV staff and partners who witnessed the share-out of their second cycle savings. Amazingly, this group of 30 members; predominantly females have been able to locally mobilise an amount of GH₵1, 394.00 (US$ 398.00) within the period of 12 months.