SaveAct facilitates the establishment in rural communities of voluntary Savings Groups that allow people to save and grow their money.
The SaveAct model is a unique adaptation of the Village Savings and Lending Association (VSLA) design widely applied in Africa.
Since 2008, the SaveAct programme has been applied systematically in South Africa and there has been sustained demand, particularly from rural women, to form groups. Savings Groups in South Africa now save on average six times more than groups across Africa.
SaveAct works with NGO partners in five provinces to scale up the model. In addition to savings and credit facilities, the programme includes financial education and enterprise development assistance.
There are now over 60,000 members, saving R290 million ($22,6 million) each year in 3,019 groups. The cohort represents a unique opportunity to build pathways for meaningful financial inclusion and poverty reduction.