Governance > Success Stories

Village Banking : Investing in Each Other

Empowering Local Microfinance Institutions in Benin Vital Finance's key to success.

Through Sia N'son, CRS/Benin's partner in the Borgou/Alibori Region, poor families have diversified their incomes and increased their financial assets using village banks.

Mrs. Mariam Moussa, a 32-year old woman, grew up in the Tekparou village of Tchaourou. She has four children, and she sells agricultural produce like most of the women from her generation. Mrs. Moussa commented, "I did not have the opportunity to go to school, but today I am very glad to be able to read and write in my native language. I can use the shop scales to buy yams from the neighbor's farm."

Mariam joined the microfinance program in September 2000. Like other women, her first loan of about 20,000 FCFA ($40) enabled her to boost her business activities. Mariam borrowed 42,000 FCFA in her last loan cycle, and she now has a net savings of 33,000 FCFA ($66) in a local savings bank. Not only has Mariam benefited from micro credit loans, she has actively participated in the program's literacy class for the last two years.

Mariam is proudly displaying her wares

"By remembering the years past, I have many reasons to thank God for his wonders. Everything comes to he who waits. I believe and I am sure that poor people can satisfy their basics needs, if they are willing to work. I thank CRS/Benin and Sia N'son for helping rural women in poor communities."

Was not Pope Paul VI right to say, "Development is the new name for peace"?

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