In Monze, Zambia, the Manangwonzi Savings Group has empowered members like Polite Masaka, leading to economic improvement and resilience against climate shocks. Through pooling resources, the group enables farmers to transform their practices and withstand unpredictable challenges.
One sunny day in Manangwonzi, Polite Masaka, a devoted farmer and grandmother, attends a community meeting vital to her new savings group. As a member for six months, she has experienced significant changes in her life since joining the Manangwonzi Savings Group. Her dedication to the group and its financial safety net has propelled her towards greater stability and productivity on her farm.
Polite serves as the secretary of the group, known for her upbeat demeanor and strict governance during meetings. Members must remain focused, as she imposes a Zambian Kwacha (ZMW) 2 fine for any distractions. Her motto emphasizes the importance of using this time wisely: “This one hour is serious business.”
The Manangwonzi Savings Group operates by pooling resources from members to lend and invest with interest. With a share price of ZMW 20, the contributions lead to substantial financial growth. In her time as a member, Polite has managed to save ZMW 1,360 and received ZMW 12,900 in total during the last share-out,
Thanks to the savings, Polite has diversified her farming practices and now manages a mixed farm with various animals, including 25 chickens and 10 goats. This impressive transformation occurred within six months and allowed her to fulfill her long-held desire to raise pigs. “I always wanted to raise pigs, and now I can finally do it,” she expresses joyfully.
In Monze, Zambia, the establishment of savings groups showcases community resilience against climate shocks. These innovative initiatives enable locals to pool resources and create financial safety nets, equipping them to face unpredictable weather and economic challenges. This collective action not only strengthens community ties but also highlights the effectiveness of grassroots efforts in combating climate change.
The story of Polite Masaka illustrates the transformative impact of community savings groups in Monze, Zambia. Through solid financial practices and shared resources, members like Polite gain economic stability and enhance their resilience against climate shocks. The initiative not only empowers individual farmers but also fosters community solidarity and cooperative action against the challenges posed by climate change.
Original Source: www.undp.org
