2018 October Malawi Team, Day 5

Today we attended a savings and loan group leader and member training hosted by CCODE. About 50 people from the villages attended the meeting where the topic focused on savings and loan enforcement procedures.  The key points presented during the training were understanding loan rules; recording and calculating loans and interests; being responsible for loan repayment; and honoring your agreement contract. Group leaders are responsible for knowing who has a loan and that residents understand their agreement. CCODE instructors also talked about the importance of creating a diverse business market in their village so there is demand and not too much competition. The time of year (dry or wet season) can also impact your business plan. It was a great training with group members asking great questions and CCODE leaders holding them accountable for knowing and retaining the information. They also presented and discussed a case study along with members “role playing” how to make a deposit and update their savings account at a bank. Our group also visited another village for a Q and A discussion with residents who have had success with their savings and loan groups.  They expressed their appreciation for the opportunity to grow their business.

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