CARE's Village Savings & Loan Associations
In 1991, CARE harnessed the power of group saving when it launched the world's first Village Savings and Loan Association in Niger.
CARE's Pathways Program Empowers Women in Malawi
Watch Anastazia Saka and Vicknes Chimbonga, two members of the Village Savings and Loan groups in Malawi, share their stories about how participating in the group is changing their lives.
Expanding Economic Opportunity
The last frontier in the provision of microfinance to the world’s poorest people has been the remote villages and teeming slums of Africa. Traditional banking has not penetrated most of Africa, and microfinance in Africa has only reached a fraction of those who need it.
But in 1991 in a poor village in southern Niger, CARE discovered a way to harness the ancient practice of group savings and create a sustainable system of home-grown microfinance. In the years since then, we have helped establish more than 150,000 groups in 26 African countries, serving nearly 3.8 million members.