In April 2024, South Saharan Social Development Organisation (SSDO), with support from ActionAid Nigeria under the SPA II Project, helped establish Village Savings and Loans Associations (VSLAs) in two rural communities – Ihenyi in Isi Uzo LGA and Aninri LGA, Enugu State.
One year later, the numbers and stories tell a powerful truth: when young people take ownership of their finances, they build more than savings, they build resilience.
A Year of Saving, Lending, and Growing
The Great Farmers VSLA in Ihenyi and the Oganiru VSLA in Aninri recently completed their first full cycle and the outcomes are nothing short of transformative:
- Zero Loan Defaults: Every loan was repaid in full.
- Consistent Participation: 51 weekly meetings held in Ihenyi alone; a testament to group discipline.
- About ₦250,000 profits generated, reinvested to grow internal capital.
- Social Funds rolled over to support emergencies and future group needs.
- 72% Female Membership, strengthening gender inclusion.
- Loans worth over ₦700,000 disbursed.
These are not just outcomes. They are indicators of community-led financial power taking root in rural spaces.
Where the Money Goes, and What It Tells Us
According to recent data from South Saharan Social Development Organisation, a staggering 92% of VSLA loans are invested in agriculture.
That is a powerful statement about what communities value and need.
- 💼 Small businesses: 4%
- 📘 Education: 2%
- 🩺 Healthcare: 2%
This tells us a lot:
✅ Agriculture remains the lifeline of rural livelihoods.
✅ There’s untapped potential to scale access to education, healthcare, and enterprise.
✅ VSLA groups are not just saving, they are transforming lives.
Beyond Money: Strengthening Livelihoods and Solidarity
For most members, agriculture is not just a means to survive, it’s the gateway to dignity, growth, and independence. With every loan invested in seeds, fertilizer, tools, and labour, members are actively reducing food insecurity and improving household income.
More importantly, through collective savings and decisions, the VSLAs are cultivating trust, discipline, and shared purpose – a model for sustainable rural development.
Looking Ahead
The success of the VSLAs is not just a story of numbers, it’s a story of young people rewriting what’s possible for their communities.
SSDO remains committed to strengthening local structures, scaling up this model, and amplifying youth voices across rural Enugu.
