Monday 17 January 2011

Breaking the Caisse a.k.a. Finishing a Full VSLA Cycle!

Another women’s VSLA savings group finished their first cycle today (a.k.a. breaking the cashbox/caisse). Results? The women received over a 50% return on their yearlong savings! For every 1,000CFA saved ($2US), the women received 1,556CFA ($3US) back. The average return received by those who saved was 35,000CFA ($70US) with the highest saver receiving over 90,000CFA ($180US) back. The cash out was exciting to see as the concept of saving money can be unheard of and difficult – go ladies of Mandamsa!

Finishing a savings cycle and receiving over a 50% return!

I also received four packages with letters today making the day complete (though one included test prep books ordered from Amazon Africa). Items included a Nicholas Sparks’ book (thanks, Brenda!), parmesan cheese (thanks, Brittany!), and a dried orchid (thanks, Nick!).

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