Most women in Malawian Townships are practically classified as unbanked. People are classified in this way for so many reasons including the fact that they simply do not have enough money for banks to even consider their business. This is not only sad but it also creates a scenario where people live in survival mode day to day. The Chisomo Community Bank was created to give an opportunity for women to learn and have a means to save money so that they can better support their families.
We are currently in the 4th iteration of this cohort style program. The current cohort has 38 committed women who bring their money together monthly to save it and learn the ins and outs of money management. The cohort also functions as a support system for the women, a place where they can share and help each other through different life circumstances.
When the program first started, men were ridiculing their wives and daughters from being part of it. Today husbands actually encourage their wives to participate because they have seen how successful the initiative has been in helping the women with their day to day needs.
Our 2023 Goal
In 2023, our goal is to inspire and encourage the women that participate in the program to start new initiatives and ventures that are generative so that they can sustain their lives. This will add a new dynamic to the peer mentoring session that go on week to week but it will also help the women to become self-reliant incase of sudden loss of income in the home.
Here’s what’s happening on the ground under this initiative. Click on the image to read the full caption from the post. #WomensCommunityBank
sharing is caring, every six months the women decide what the group should get depending on the need.#womenscommunitybank
sharing is caring, every six months the women decide what the group should get depending on the need.#womenscommunitybank ...
HOW YOU CAN HELP
Commit to giving one time or monthly for 1 year towards the day to day running of the Women’s Community Bank program, supporting staff, and purchasing and providing supplies.