{"id":22306,"date":"2025-04-19T11:08:59","date_gmt":"2025-04-19T11:08:59","guid":{"rendered":"https:\/\/moneyformadagascar.org\/?page_id=22306"},"modified":"2025-04-29T21:08:10","modified_gmt":"2025-04-29T21:08:10","slug":"savings-and-loans-a-way-to-make-dreams-come-true","status":"publish","type":"page","link":"https:\/\/moneyformadagascar.org\/cy\/our-programmes\/forests-and-livelihoods\/the-green-give-22-29-april-2025\/savings-and-loans-a-way-to-make-dreams-come-true\/","title":{"rendered":"(English) Savings and loans \u2013 a way to make \u2018dreams come true\u2019"},"content":{"rendered":"

Mae’n ddrwg gen i, mae'r cofnod hwn dim ond ar gael mewn English<\/a>.<\/p>

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Despite working two jobs, Jos\u00e9phine Rasoanantenaina was only able to earn half the money she and her family required to cover their daily needs.<\/em><\/h4>\n

Her story \u2013 including the efforts and decisions she made \u2013 shows how our Resilient Forests and Livelihoods<\/a> (RFL) programme enables Malagasy people to lift themselves from poverty and food shortage, without resorting to damaging and removing sections of the rainforest they live alongside.<\/em><\/h4>\n

Our savings and loans projects – one of which <\/em>Jos\u00e9phine joined – are one way we help people improve their lives and livelihoods. In her case, they have helped her achieve some ‘dreams’.<\/em><\/h4>\n

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In the village of PK7, in the heart of the rural commune of Andasibe, Moramanga district, <\/strong>Jos\u00e9phine Rasoanantenaina, works as a farmer and shopkeeper.<\/h4>\n

A dynamic 52-year-old woman and mother of four, Jos\u00e9phine\u00a0runs a grocery store in the village.<\/h4>\n

But in 2022, her daily income from the store was 20,000 Ariary (\u00a33.32) per day, just half the amount she needed to cover her family’s needs.<\/h4>\n

Sadly, that income \u2013 even though a fraction of what she and her family needed \u2013 is considerably more than many Malagasy people make: 79.9 per cent of people in Madagascar live on or below \u00a31.73 per day, the global poverty baseline.<\/h4>\n

To set this injustice right, RFL provides opportunities for Malagasy people to improve their incomes, including Community Savings Groups (GECs) \u2013 community savings and loans organisations in which members contribute a membership fee, which is then used to back initiatives presented by those members, and all share a portion of those projects\u2019 successes.<\/h4>\n

In 2022, Money for Madagascar partner the Mitsinjo Association set up a GEC in PK7.<\/h4>\n

Jos\u00e9phine was one of the first people in PK7 to commit to the group, and as a result of her membership, and her own wise decisions, her life has changed from one in which her income did not cover her family\u2019s needs, to one in which she can afford reasonable comforts and plan for the future.<\/h4>\n

In the GEC\u2019s first nine months (in 2022-23), the group had 24 members (23 women, one man). Each paid 300 Ariary (around five pence) per week.<\/h4>\n

At the end of the cycle, Jos\u00e9phine received 130,000 Ariary, which she used to increase her income.<\/h4>\n

She said: \u2018I spent 40,000 Ariary (\u00a36.64) on two ducks, which I sold for 50,000 Ariary<\/em><\/span> (\u00a38.30).<\/h4>\n

\u2018I invested 50,000 Ariary in my shop, so I could increase the stock I had to sell. This might seem simple, but it had a great effect. I more than doubled my income, from 20,000 to 50,000 Ariary per day. I could afford the things we need each day as a family.<\/em><\/span>\u2019<\/strong><\/h4>\n

Jos\u00e9phine continued with the GEC in 2023\u201324. The group had 30 members (28 women, two men) with a weekly membership fee of 500 Ariary (8.3 pence). At the end of the cycle, she received 170,000 Ariary (\u00a328.82).<\/h4>\n

She said: \u2018I used this money to fulfil a dream. Since I got married, I never had a real comfortable mattress. But I had never had the means to afford it. Thanks to savings, this dream has become reality. I bought a foam mattress.<\/em><\/span>\u2019<\/h4>\n

Changes like this, which may seem small to us, are a reminder that our initiatives \u2013 that development in general \u2013 are not \u2018just\u2019 about \u2018economic advancement\u2019, as important as that is, but about what it delivers: personal comfort and an escape from shortage and hardship.<\/h4>\n

Jos\u00e9phine is now participating in the GEC\u2019s third cycle, paying a weekly membership fee of 800 Ariary (13p). This time, she plans to renovate her house with the end-of-cycle returns.<\/h4>\n

She said: \u2018This is something we have needed for a long time, and it\u2019s good that I have a way to plan for it that is achievable and realistic.<\/em><\/span><\/h4>\n

\u2018I really like the community savings group. There is a great atmosphere, solidarity, and above all, I can make my dreams come true. I can improve my family’s life and find other sources of income, beyond what I earn for food and daily expenses.<\/span><\/em><\/h4>\n

\u2018This effective method really helps us out of poverty.<\/span><\/em>\u2019<\/h4>\n

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YOU can help the RFL programme help Malagasy people and the extraordinary Madagascar wilderness, flora and fauna.<\/h4>\n

On Friday 25 April, we achieved our Green Match Fund target – thank you so much!<\/h4>\n

But if you still want to donate to the RFL programme, please do so here<\/a>: your donation will be very gratefully received and will help Malagasy people lift themselves from poverty and hunger, and protect and expand the Malagasy rainforest, upon which we all rely.<\/h4>\n

Your donation will benefit:<\/h4>\n