CASTRAP Conducts Action Audit for Six VSLAs


CASTRAP conducted an action audit for six (6) of the twenty-seven (27) groups that had completed their cycles in the project landscape. As per the accepted VSLA principle, a full-cycle action audit is performed six to twelve months following savings, depending on the program’s design.  During the action audit, the cumulative savings and service charges are discussed and shared among members, allowing the organization to begin a new cycle.

Following eight months of intensive savings and loan activities among members of the six groups, a total of US$18,963 in savings and cumulative service charges on loans were shared among 180 people, including 130 females, 69 youth, and 7 people with disabilities during the action audit. It is worth noting that after eight months of saving, the sixth group earned a total interest of USD 3,375. The group has begun cycle two with a membership increase of 10 new members added to each group, bringing total membership to 40 per group.