Yasinta Chacha lives in Kyangasaga Ward in Rorya District, a rural farming area in Tanzania. Yasinta is the second wife in a polygamous marriage and has six children. Yasinta took on odd jobs to support them. This allowed her to get by. But it didn’t provide the income necessary to improve her living conditions, and those of her children.
This changed when Yasinta joined Upendo Kunkenyi, a savings and credit group formed with the assistance of development organization World Neighbors. In a savings and credit group, members deposit small amounts each month. When enough capital is accumulated, members can take out loans at very low interest rates. The interest paid into the group, along with regular monthly contributions, can result in significant amounts of capital. In addition to saving money, members are trained on record keeping, accounting and other basic business skills.
By last year, Yasinta’s savings and credit group had 40 members. It lent members $11,000. Yasinta borrowed $392. With it she built a house.
“I once told my husband that I will one day build a house where my children will settle in comfortably,” said Yasinta. “He laughed and asked where I would get the money. Now he is the one helping me construct the roof of our three bedroom house, which has a corridor and a spacious living room.”
It’s often said those in low-income countries do not earn enough money to save. Yasinta and the women in her community prove it is possible to save and plan for a better life for themselves and their children.
