Savings groups are self-managed groups of 15 to 25 people who meet regularly to save their money in a safe space, access small loans, and obtain emergency insurance. Between 2008 and 2018, CARE focused on scaling VSLAs in Africa and increasing financial inclusion, leading to a direct increase in membership from 1 million to 7 million people and influencing peer NGOs, donors, and governments, many of whom have adopted the model.
Looking ahead to 2030, CARE believes that scaling VSLAs and supporting VSLA members to pursue their goals can have a substantial impact on the achievement of the 2030 U.N. Sustainable Development Goals. To achieve that scale, CARE will continue not only to embed VSLAs in its own work, but also to work in new ways and with new partners.