Capacitating Communities: Tikolelane SILC Group Flourishes Through Savings and Loans
In the quiet village of Mwenengolo in Karonga District, a group of determined individuals is rewriting their own stories of financial empowerment. Tikolelane SILC (Savings and Internal Lending Communities) Group is one of the outstanding stars in the innovative pilot graduation model project, thanks to the tireless efforts of Lusubilo Community Care and Catholic Relief Services through the IOVCY project. On 3rd October, 2023 Tikolelane group conducted its third share-out meeting after saving for eleven months.
On this day, the Group celebrated this significant milestone after diligently saving for eleven months. This small group of nineteen members, consisting of 18 women and 1 man, came together to change their lives for the better. During this momentous day, the group shared a total of K2, 555,500.00 from their Main fund, with K1, 349,200.00 representing their collective savings. The highest recipient went home with K235, 000.00, a sum that will undoubtedly make a huge difference in their lives, while the least fortunate still had a substantial K18, 800.00 to uplift their circumstances. “It is only possible to live happily ever after having a reliable source of generating income that can help our families to meet basic needs. We thank Lusubilo Community Care and Catholic Relief Services through IOVCY project for SILC groups which continuously enable us to have access to soft loans for small businesses and save the profits” said Rose Mbira, Chair lady for Tikolelane SILC group. Mbira’s words are not mere aspirations but a testament to the transformative power of community-driven initiatives.
Lusubilo’s Field Officer for the area, Jelous Luhanga, graced the occasion and provided valuable guidance to the group. His words resonated deeply with the members, emphasizing the importance of using their hard-earned money wisely. The Tikolelane SILC Group not only embodies the spirit of unity but also serves as a beacon of financial hope for the entire community.
Lusubilo Community Care’s incorporation of SILC groups into the IOVCY project is an essential intervention that fosters a savings culture and access to loans within the community. SILC serves as a sustainable solution for households facing economic challenges, ensuring that families can thrive even after the project’s had phased-out in the area.
The Tikolelane SILC Group’s success story is not just about financial growth but about the resilience, determination, and unwavering spirit of a community coming together to transform their lives. Through their commitment and the support of visionary organizations like Lusubilo Community Care and Catholic Relief Services, they prove that dreams of a brighter future can indeed come true.
By Communication Office.