As part of their commitment to the Cocoa & Forests Initiative, Blommer have contributed to the creation of 479 VSLAs, with 13,644 participating members of which 74% are women.
VSLAs, or Village Savings and Loan Associations, have proven to be a great tool to create economic opportunity for women, allowing them to strengthen existing businesses or invest in creating new ones. One of these women is N'guessan Bernadette, a member of the AKAHIRA 1 VSLA in the Lakota region of Côte D'Ivoire.
My name is N’guessan Bernadette KOUASSI. I am a member of the VSLA named AKAHIRA 1 from AKABREBOUA in the Lakota region.
When Blommer’s field agents arrived in the village to sensitize us about VSLAs, I joined the group with great hesitation, especially as my husband was not supportive of me joining. For him, this group savings activity, as we’re used to seeing it, was going to end badly. Despite his opposition, I joined the group and started saving.
At the end of the first VSLA cycle, I was able to save $126 plus gained interest I was paid out $132. With this sum I bought traditional BAOULE loincloths to sell. In the second cycle, the value of the share increased from $0.84 to $1.68, and I managed to save $8.40 each week. My savings enabled me to take out a loan of $335 to strengthen and diversify my business. At the end of the 2nd cycle, I received a sum of $461.
Given the success of VSLAs, I encouraged my husband to join the group too, which he eventually did. Today, in addition to traditional loincloths, I also sell loincloths for going out, suitcases, yams, pottery and so on.
Our VSLA is in its 5th cycle of operations now, and the value of the share has increased to $3.40. Today, I can say that I have become financially independent. The majority of the women in our village have joined VSLAs because of its success. Thanks to Blommer and its partners.
