Big Idea of SACCO Began by African Women To Attain Financial Freedom

Friday, January 22, 2010 | comments

For as long as I can remember African women have been meeting together and doing something constructive at least once in a month and contribute foodstuffs and other items. This made sure that their children never went hungry. They even managed to save something small to cater for some of their sort of idle husbands to go and drink in the village. This is in fact the origin of SACCOs, where a group of people with a common goal pool their resources together, empowering themselves and achieving financial freedom.

Soon after the idea of merry-go-round was birthed, several women working in the same company came together and decided to give a certain amount to one of them so she could do something constructive. Long before bank loans women could acquire a sizable amount of cash just from among themselves. Indeed, there is might in togetherness such as what these women set their minds to do however daunting it seemed, they managed to do. Later they ventured into greater things like buying land and houses.

The latest venture that the women have undertaken is financial helping each other buy gifts for their parents. That basically involves a group of women pooling together and visiting the parents of one of them, showering them with gifts which meant the daughter was in exchange showered with blessings.

All these ventures by our mothers, wives, aunts, sisters and eventually daughters show that indeed the SACCO movement originated from our women. These are some of the milestones achieved by women in Africa and by that they deserve a salute. Financial freedom is achievable when people to together their resources.

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