This project will create two Savings & Loan groups for a total of 40-60 nomadic women in Niger to generate income for their families and invest in small enterprise. Starting with a seed fund provided by RAIN, each member contributes a weekly small amount from which members take out monthly loans on a rotating basis. This pilot program will be extended to hundreds of women in the surrounding communities, empowering them with economic independence and increased resilience to food insecurity.
Poverty is extreme in rural Niger communities hard hit by droughts and lack of opportunity with little to no assistance. Women are often on their own to support their families without the means to generate income and no access to seed funds or traditional credit. RAIN believes in fostering small enterprise for nomadic women to earn income and learn new skills. S&L groups strengthen these activities and builds resilience to food insecurity with the ability to buy food.
Women hold the key to lifting their communities out of poverty - investing 90% of their earnings in their families. S&L groups generate funds for women to engage in small enterprise, buy food or medical care, or send their children to school. Members learn the value of saving and basic finance as family stability increases. Periods of food scarcity will have less impact on households with funds to buy food. Decision making empowers women as the program extends to surrounding communities.
Initiating two S&L groups for 40-60 nomadic women will increase family income, economic independence and build a lasting social support network. Saving is not a part of nomadic culture, and S&L's teach the concept of saving. Members will run their own S&L groups and some will train new groups. "We have the ability to do small business activities that help us with our needs. It is also the solidarity that we have found in this group." Mariama Mohamed, S&L Member
