BAckground
The Twa live from hand to mouth, so saving is almost impossible. Hence they have no form of economic flexibility. Nevertheless our farm foreman, Providence, suggested we try to establish a microsavings group. The concept was that group members could borrow from the account, and return the amount with interest. The group itself decides if loans are granted, and how the interest is used.
It costs 120 norwegian kroner (NOK) to send a child to school for one year. This is used to sew a school uniform, and buy exercise books and pens.
It costs 120 norwegian kroner (NOK) to send a child to school for one year. This is used to sew a school uniform, and buy exercise books and pens.
Goals
- To provide a means for the Twa to borrow small amounts of money with a low interest rate.
- To make it possible for some children to start school.
Beneficiaries
36 families.
HOW
With encouragement and continual motivation from Providence, the Twa village leader found 6 people willing to join the group. FRED'S FARM incentive was a deposit of a small sum of cash in the microfinance "account", in reality a wooden box held by Providence.
Time Line
2025 8 men from the Twa village took initiative to staert microsavings group. FF provided start capital and hoes.
2024 Continues to function well.
2023 Microsavings account functions well.
2022 Restart microsavings account. 36 families joined the group.
2021 Due to COVID-19, all savings were used up and most people had no income, hence no saving. The project paid for the 6 Twa children to continue at school.
2020 Malaria treatment for 2 families, and food for 2 starving families. None of these families were in the group. Six children started school, 2 were from non savings group families.
2019 FRED'S FARM promised that at the end of the year, to give 60 NOK for every 60 NOK saved to send children to school.
2018 Microsavings account established. Money was borrowed to buy soap, salt, maize meal, beans. 2 ladies started small business buying and selling beans. The original deposit sum was doubled in the course of the year.
2024 Continues to function well.
2023 Microsavings account functions well.
2022 Restart microsavings account. 36 families joined the group.
2021 Due to COVID-19, all savings were used up and most people had no income, hence no saving. The project paid for the 6 Twa children to continue at school.
2020 Malaria treatment for 2 families, and food for 2 starving families. None of these families were in the group. Six children started school, 2 were from non savings group families.
2019 FRED'S FARM promised that at the end of the year, to give 60 NOK for every 60 NOK saved to send children to school.
2018 Microsavings account established. Money was borrowed to buy soap, salt, maize meal, beans. 2 ladies started small business buying and selling beans. The original deposit sum was doubled in the course of the year.