Empowering Women through village banking and savings

In a world where financial independence and empowerment are essential for social progress, remarkable success stories have emerged from a small community in Livingstone where a group of women came together to learn about village banking and savings. They named their group as Bupilo savings group.

Through dedicated training and support from SOS children’s Villages and Zambia national commercial bank (ZANACO), these women transformed their lives, families, and even their entire community.

Zambia compound in Livingstone is small but heavily populated community, most families could hardly afford to have three meals a day and send their children to school. A group of determined and forward-thinking women came together and started Villages banking and saving group as a way of helping each other financially.

Recognizing the challenges these women faced due to limited education and financial knowledge, SOS Children’s Villages in Zambia envisioned a transformative path for them. In collaboration with its partners, the women were trained in financial literacy and ZANACO facilitated the opening of bank accounts for the women in order to enable them do their transactions transparently.

SOS Children’s Villages initiated a series of workshops that covered fundamental concepts of banking, budgeting, savings, and financial planning. At the heart of these sessions was the aim to demystify complex financial jargon and concepts, making them accessible to women who had never encountered them before. Maya's patient and simplified explanations resonated with the women, enabling them to grasp the concepts and recognize their potential.

Mary Kasoka is one of the members of the savings group, she explained that before joining the group, her family was at the point of break-up because she could not afford to provide for her family needs.

“My family is now doing well, I have managed to send my children to school and we are able to afford decent meals, I’m very grateful that SOS Children’s Villages has supported us,” said Mary.

She noted that story of their empowerment journey inspired neighbouring communities, leading to the establishment of similar empowerment groups in nearby areas.

Another member, Jane has managed to build her family home and is currently building another one which she hopes to put on rent once completed.

“Before I joined this group, I had no idea how my children and I would survive, my husband died some years back and left me as the bread winner” Janet.

The women of Bupilo stand as a testament to the transformative power of financial literacy and collective action. Through their dedication, they shattered barriers and transformed their lives from financial insecurity to empowerment. Their story highlights the importance of investing in women's education and financial knowledge, demonstrating that when women are equipped with the right tools, they can change not only their own lives but also their communities and society at large.