Conservation Society of Sierra Leone (CSSL), in partnership with GREENLIFE West Africa (GLWA), has established Village Savings and Loan Associations (VSLAs) in five communities (Ribbimen, Morchail, Moyambe, Samu, and Shengebull) located near the Yawri Bay Marine Protected Area in Coastal Sierra Leone. A training was also held from the 14th to 28th of March 2024 on financial management and leadership skills, facilitated by Mr. Musa Wullarie from the Federation of the Urban and Rural Poor (FEDURP).
VSLA members were trained to use collective power to overcome social and financial barriers, which will increase their access and control over resources.
The creation and strengthening of VSLAs in Yawri Bay is part of the Blue Natural Capital Financing Facility (BNCFF), a project funded by the International Union for Conservation of Nature (IUCN), and being implemented by CSSL and GLWA.
Each VSLA comprised 25 females and 5 males totalling 30 members. There are five VSLAs bringing the total membership to 150 persons. Each group was provided with a start-up fund of Le 6000 and a VSLA toolkit, including savings boxes, ledger books, pens, rulers, tables, and chairs.
The governance structure of the VSLAs are clearly defined with key executive positions, including chairpersons, all headed by women except for the Secretary General positions, which are held by men.
The aim of the VSLA is to increase the financial independence of coastal community members. VSLA is a strategic approach not only to mitigate climate change but also to increase the income of rural households, making them financially independent. Additionally, the VSLAs aim to bring social cohesion among members and protect vulnerable ecosystems from the adverse effects of human activities, such as deforestation for agriculture, waste pollution, and coastal development, which have led to a significant loss of mangrove forests.
“The establishment of VSLAs in our communities will help to increase our financial independence, and it will promote harmony among community members,” said Mr. Osman Kargbo, a member of the VSLA in Morchail community.
