Habitat for Humanity Zambia has been supporting the establishment of Savings Groups in Makululu community since 2019 and has since established 323 groups with a cumulative population of 6,312 members. The Savings Groups are self-selected groups of between 20 to 30 members. The members meet weekly to save and borrow money from the group on flexible terms. The Savings Groups accumulate savings to make loans which members borrow at a relatively small interest rate which in turn increases the loan fund.
Habitat for Humanity Zambia under the Improving Financial Security for Women in Makululu Project embarked on a journey to digitalize Savings Groups in 2022. This was in an effort to improve their financial security by facilitating and consolidating Savings Group operations.
The project is aimed at supporting innovations such as digitization of the records and cash boxes for Savings Groups. The transitioning to digital services will be two phased. Phase one was commenced last year and it involved digitizing Savings Groups records and phase two will lead to digitizing the cash boxes.
