This blog post was written by Grace Cooney, our Trusts & Foundations Fundraiser.
Louisa at her shop in Rwanda.
Our team is incredibly proud of the impacts achieved in 2023. In just a few weeks, we will be releasing our 2023 Impact Report: Celebration. With your support, our partners have reached over 32,000 members last year. Now, we’d like to release a sneak peak of one Savings Group member featured in the report, Louisa.
With help from her fellow Group members, Louisa, a mother of four children from Rwanda, started a successful business.
After her husband fell ill and could no longer work, Louisa knew she had to find a source of income for her family. Joining a Savings Group provided her not only with financial assistance, but also with a supportive network of fellow members.
“I had seen that people had to go far to get their bicycles repaired. So I developed this business idea to start a small shop, but I didn’t know how to actually start it. Luckily, my Group had some ideas.”
Louisa was able to save in her Group and take out a loan to buy spare bicycle parts. She would then resell them. Over time she paid back her loan and took out a second.
“I kept expanding my business, and now I employ someone part-time to do bicycle repairs here at the shop!”
After the success of her first business, Louisa became even more ambitious and decided to find other streams of income. She decided to diversify her business by buying a piglet.
“I feel that it is important to have a second income in case something like COVID comes again, and I have to close the bicycle business for a while. Now, I provide for all my family’s needs through my businesses. I can provide for my children - they never have to worry anymore about their school fees, clothes, medicine, or having food.”
Louisa’s story is a testament to the transformative power of Savings Groups, building social capital, skills and confidence alongside income and assets. When sharing ideas, Savings Group members like Louisa celebrate each other’s successes and support each other’s businesses to thrive.
Now, Louisa and her Group can celebrate that they are better able to care for their families and build resilience.
If you’re interested in reading the rest of the 2023 Impact Report: Celebration, keep an eye out for it on our website here.