CRS has been piloting a health microinsurance product in Benin and delivering it through savings groups. This post describes the initiative's positive outcomes and opportunities for improvement.
In the Caribbean, CRS' savings groups are helping young people prepare themselves and their communities for emergencies.
Members of the Lemohang Basotho savings group in Lesotho view their growing social cohesion as one of their greatest achievements since forming their group: "It is easier for the village to plan together, and unity is power."
Private Service Providers are fee-for-service agents who offer ongoing support to savings groups, without additional donor subsidies. By becoming a PSP, Theopiste Ndikubwayo earned income to install electricity in his house and start a small business.
"Sometimes people in villages or members of a SILC group where I go for the first time are surprised to see that I [am] a woman who arrives on a motorcycle. But over time people in the communities have come to respect me for the work I do and the services we offer."
Savings groups have helped to build bridges between Muslim and Christian women in Sudan. They've also allowed us to connect Sudanese women to financial services and vocational training.
These six success stories demonstrate how participation in savings groups is creating successful and prosperous livelihoods for members in Zambia.