Village Savings and Loans Associations (VSLA) are small, member-run micro-financing groups enabling those living in poverty to build savings and take out loans at low interest rates. 99% of loans given by a VSLA are repaid in full. It is a self-managed group and provides its members a safe place to save their money, to access loans and to obtain emergency insurance.
The VSLAs groups visited in 6 communities under Bosso LGA are doing impressively well with diverse testimonies of financial impacts on members.