On March 9, 2026, the Liberia Fisheries Governance Project (LFGP) successfully rolled out the training and establishment of 11 Village Savings and Loans Associations (VSLAs) across project communities in four coastal districts of Sinoe County. The initiative was implemented directly by five Civil Society Organizations (CSOs) contracted by CERATH to lead the process.
This intervention falls under Objective 3 of the project: strengthening CSOs to promote the participation of youth, women, and other marginalized groups in the coastal economy. By improving access to finance for fisherfolk, the program aims to empower communities and foster inclusive economic growth.
The VSLA model is a community-based, self-managed financial system that enables members to save part of their income, access loans, and repay them with a modest monthly service charge of 10%. Each savings cycle runs for nine months, after which a share audit is conducted. Members then withdraw their cumulative savings plus accrued interest, and a new cycle begins—ensuring continuity and sustainability.
Prior to the rollout, the project organized a five-day capacity-building workshop for 12 staff members from the five CSOs. The training equipped participants not only with the skills to establish and manage VSLAs but also with knowledge in Business Development Services (BDS). This included practical guidance on sample accounting practices, enabling CSOs to support micro-business owners in improving management, boosting profitability, and enhancing their social and economic standing within their communities.
