The Foundation extended its Village Savings and Loan Association (VSLA) initiative to the Hook Street community, marking another milestone in its mission to empower women in vulnerable communities. The expansion, which took place yesterday, 20th August 2024 was met with enthusiasm and high participation from the women of Hook Street, who expressed their eagerness to embrace the opportunities the initiative offers.
During the launch event, Mr. Solomon Tengbeh, the foundation’s field staff, highlighted the significance of the VSLA program, explaining how it has already transformed the lives of women in other communities by providing them with access to micro-loans to start or expand their businesses. “The VSLA initiative is more than just a savings group; it’s a pathway to financial independence,” said Mr. Tengbeh. “Through this program, you can access financial services that were previously out of reach. I encourage you all to take this opportunity seriously, as it can have a profound impact on your lives and the future of your families.”
Mr. Tengbeh also emphasized the importance of savings, urging the women to be diligent in their participation. “Savings is the cornerstone of financial security,” he added. “By saving regularly and responsibly, you can build a strong financial foundation that will help you weather life’s challenges and invest in your future and the future of your children.”
Yabom Posseh Sesay, the women’s chief of Hook Street, warmly welcomed the foundation’s staff and expressed her community’s gratitude for being chosen as the new community for the VSLA initiative. “This is a real opportunity for the women of Hook Street,” Chief Sesay stated. “We are very grateful to the Foundation for bringing this initiative to our community. I assure you that we will take full advantage of this opportunity and make the most of it.”
The proceedings of the VSLA’s first week saw a high turnout, with women eagerly purchasing shares, resulting in significant savings for the week. The participants' enthusiasm and commitment reflected the program's potential to make a lasting impact on the community.
Isatu M. Sesay, the chair lady of the Hook Street women’s group, echoed the sentiments of the chief, thanking the foundation for its support and urging her fellow women to seize this opportunity. “We are truly thankful to the foundation for thinking of us,” said Mrs. Sesay. “This initiative has already shown great results in transforming women’s lives elsewhere, and I believe it will do the same for us. Let us all take advantage of this chance to improve our lives and support each other in this journey.”
The expansion of the VSLA initiative to Hook Street is part of the Foundation’s broader efforts to empower women and alleviate poverty in Freetown’s most vulnerable communities. With the positive response from the Hook Street women, the foundation is optimistic about the program’s success in this new community and looks forward to continuing its mission of transforming lives through sustainable development initiatives.
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