Namikango Mission

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Village S&L groups growing stronger

Aug 18, 2017

We recently had the privilege of attending the last meeting of one of Namikango’s Village Savings and Loans groups in the area of Lingoni. This meeting is what is called a “share-outtime,” which is where the savings shares with the interest accrued over the life of the group cycle (10-12 months) is returned back to the members within the group.

This is an exciting time as the members realize their hardwork in saving has paid off by receiving back their savings shares along with interest. The group saved 790,000MKW and shared out 1,264,000 MKW, which is about $1,700! This is quite outstanding for a small village community. It is normal to have a 30% to 60% return and the group we visited did have a 60% return on their savings. This amazing return is possible since the shares are loaned and repaid several times during the cycle.

Our part in this work is to help them, and us, to realize that villages have the resources and the talent they need to strengthen their own households and communities, if only they have the vision and will power to get it started and carry through.

Also, it is important to note that while we assist and educate people toward the benefits of saving and helping their neighbors, we do not handle the money, and we do not receive any part of the earnings. The S&L members handle all of the funds and they benefit from the increase of funds, all within the group.

An added blessing to this already wonderful day for us was that Kirkand Susan (Dad &Mom) were able to be with us also. The ladies loved having Mom around as well as Justine and the girls.What a blessing to share in the joys of Malawian brothers and sisters.

Ryan Hayes