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Savings groups: Gateway to financial inclusion

MARGARET CHISANGA, Lusaka
“THOUGH I am a widow, I am a very proud mother because I have made sure that my children have had an opportunity to be in school, and their education will help them have an equal standing in society as they search for employment opportunities,” Lydia Chileshe says.
Ms Chileshe says her efforts to provide education needs for her children succeeded in recent years, thanks to a savings group she joined in Mufulira in the Copperbelt Province which specifically enabled group members to concentrate on saving money for education purposes.
“I realised the importance of the Saving for Education programme when I had an emergency at my son’s school. Instead of panicking or even borrowing kaloba (money to be paid back with an interest), I was able to simply go to my banking group and withdraw the exact amount I needed,” she says in an interview.
Ms Chileshe is one of the 129,000 women benefitting from one of over 7,900 savings groups instituted through partnerships with the Zambia Financial Sector Deepening (FSD) Zambia across the country CLICK TO READ MORE

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