In Monze, Zambia, community savings groups are enabling residents to tackle climate shocks by pooling resources for financial security. Member Polite Masaka highlights the positive impact of these initiatives, demonstrating enhanced farming capabilities and community resilience.
In Monze, Zambia, residents are uniting to confront climate shocks through community-driven savings groups. These groups empower locals by pooling their resources into a financial safety net, which enables them to mitigate the effects of unpredictable weather and economic hardships. This approach fosters community solidarity and illustrates how collective efforts can effectively improve resilience against climate change’s adverse impacts.
One notable member, Polite Masaka, who serves as the secretary of her local savings group, exemplifies the positive changes these initiatives can bring. Living in Manangwonzi, she actively participates in biweekly meetings, demonstrating her dedication as a passionate farmer and grandmother. In just six months of membership, Polite has made significant strides in transforming her modest farm into a thriving mixed farm, raising 25 chickens, 7 pigs, 6 guinea fowl, and 10 goats.
Polite embodies the spirit of the Manangwonzi Savings Group, which operates on a robust mechanism of pooling funds, issuing loans with interest, and reinvesting the earnings into various projects. While a share costs only ZMW 20, her savings reached ZMW 1,360, with total earnings, including interest, at ZMW 12,900 at the last share-out. Notably, she remains vigilant during meetings, insisting upon discipline, with a fine imposed on any disruptions. “This one hour is serious business,” she asserts, ensuring focus during these vital discussions.
The innovative savings groups in Monze provide a crucial lifeline for communities facing climate shocks. By pooling financial resources, residents strengthen their resilience against economic hardships and unpredictable weather. Polite Masaka’s journey showcases the tangible benefits of organized collective action, resulting in improved livelihoods and community cohesion.
Original Source: www.undp.org
