After 180 days of savings, 13 Village Savings and Loans Associations (VSLA) formed under the EU-funded Power to the Fishers (PTF) project have managed to raise Gh¢75,265. These were information captured as part of data collection on 180 days (6 months) of share purchase.
The most performing group – ‘Nyame Nti’ VSLA in the Senya Bereku community have raised an amount of Gh¢13,505. During this period, several members of the groups have had access to loans to support their businesses, the education of their children, and other aspects of their personal lives. Group members aspire to finish the VSLA cycle on a strong note as they seek to make the most out of their saved funds.
Within this time period, members of the various groups have taken loans which has been of great benefit to them. Araba Gyan, a fishmonger of the ‘Susuka’ VSLA has this testimony to give:
“I have been smoking fish for over 20 years. I decided to join the VSLA group so in times of financial difficulty I could have a place to lean on. My decision to join has not been in vain. Through the group, I have been able to take some loans to support my children’s education. Also, I recently took a loan to support my husband in purchasing a canoe. Prior to the adoption of the group, my family lived on daily earnings from fishing expeditions.”