Polite Masaka, a member of the Manangwonzi Savings Group, experiences life-changing benefits from community savings initiatives. She now manages a diverse farm and plays a key role in guiding the group’s meetings while promoting financial stewardship. This approach allows villagers to better manage climate-related challenges by pooling resources and creating financial security.
In Monangwonzi, Polite Masaka, a dedicated farmer and grandmother, starts her day early to attend a meeting of the Manangwonzi Savings Group. Within six months of membership, Polite has experienced significant changes in her life, as this group champions financial collaboration among its members.
As the group’s secretary, Polite is both uplifting and assertive, ensuring that meetings maintain focus. She enforces a Zambian Kwacha (ZMW) 2 fine for distractions, emphasizing the importance of their meetings by stating, “This one hour is serious business,” while encouraging participation.
The Manangwonzi Savings Group operates by pooling members’ resources, allowing them to lend money with interest and reinvest profits into individual and joint projects. Members can contribute as little as ZMW 20 per share, with Polite saving a total of ZMW 1,360 and gaining ZMW 12,900 in interest during the last share-out.
With these funds, Polite has transformed her farming operations from simple crop production to a diverse mixed farm including chickens, pigs, guinea fowl, and goats. Polite proudly states, “I always wanted to raise pigs, and now I can finally do it,” highlighting the transformative impact of the group.
In Monze, these innovative savings groups are key in addressing climate shocks, allowing communities to pool resources and create financial safety nets. This collective effort equips locals to face unpredictable weather and economic challenges while fostering community connections and showcasing the strength of collective action to combat climate change.
The Manangwonzi Savings Group exemplifies how grassroots initiatives can empower communities to withstand climate shocks. With members like Polite Masaka leading by example, these savings groups facilitate financial growth and resilience, allowing individuals to diversify their livelihoods and strengthen their community bonds. Through cooperative efforts, the people of Monze are making strides to combat the effects of climate change.
Original Source: www.undp.org
