SaveAct has launched its Masongeni, sandise ingeniso (saving together, growing together) project. The close to €840,000 (R12,6 million) EU-funded project will support micro-credit savings schemes in rural communities across three provinces.
SaveAct is piloting a financial education programme involving 2,000 SCG members in 100 groups in two provinces. The pilot is aimed at refining the embedded financial education developed by PlaNet Finance and Microfinance Opportunity in conjunction with SaveAct.
Are there benefits to linking banks with savings and credit groups? This was the topic of a workshop co-hosted by SaveAct, FinMark Trust and the Centre for Inclusive Banking in South Africa (CIBA) held in Johannesburg in 2013.
SaveAct is pleased to announce that a new partnership has been forged with the Durban-based Family Literacy Project. We envisage that the new arrangement will help to foster greater financial independence and security among existing members of existing FLP groups in Centocow and Pholela near Underberg.
SaveAct’s achievements in building sustainable livelihoods through financial education were acknowledged when the organisation walked away with a Concept Award from the PlaNet Finance Group at a function held in Johannesburg in April 2013.
Ellen Moloi of Bergville in Obonjaneni made a presentation at First KZN Financial Literacy Conference, at the University of KwaZulu-Natal in July 2012 about the way her financial situation has improved.