On a significant day in Gahanga Sector, Hands of Compassion Rwanda (HACORWA) conducted an impactful Financial Education training aimed at empowering members of the Internal Savings and Lending Groups (ISLG) to better manage their finances and foster sustainable development within their communities. The training, held in Gahanga Cell, brought together 42 participants, including 39 women and 3 men, representing groups such as “Icyizere” and “Ejo Heza.” This initiative marks an important step in HACORWA’s ongoing commitment to supporting grassroots groups toward economic independence and growth.
Key Training Topics
Facilitated by Madame Verena, the training covered a range of financial literacy and community empowerment topics, including:
- Saving for Development: Madame Verena emphasized the power of consistent savings as a pathway to individual and group development.
- Efficient Use of Group Books: Participants learned the importance of keeping organized financial records to track their contributions and goals, ensuring transparency within the group.
- Project Planning and Investment: Members were encouraged to think beyond savings, identifying opportunities for joint projects that could generate income for the groups. Instead of saving solely for later disbursement, participants were inspired to invest in ventures that would yield long-term returns.
- Legal Registration of ISLGs: Securing legal recognition was highlighted as a crucial step for the groups, enabling them to access loans and financial services more easily. The facilitator encouraged the groups to obtain a legal personality license from the sector, which will strengthen their credibility and aid in financial expansion.
- Utilizing Bank Accounts: HACORWA urged participants to open bank accounts after obtaining legal recognition, which would support them in managing and growing their collective savings and accessing formal banking services.
Long-term Empowerment Initiatives by HACORWA
Rev. Sereine, Director of HACORWA, concluded the training by introducing the Empower Them Project, a five-year initiative dedicated to building the capacity of ISLG members. This comprehensive project will offer continuous guidance and practical resources in several areas:
- 8-Month Women’s Empowerment Training School: This program aims to equip women with essential life and business skills, fostering personal growth and family well-being.
- Education Sponsorship: HACORWA will support children’s education, ensuring access to schooling for families in need.
- Nutrition Support: To combat malnutrition, HACORWA will provide eggs weekly to children in need within the community.
- Business Financing: Members will receive support to develop and finance sustainable business initiatives, further advancing their financial independence.
Participants expressed heartfelt gratitude to HACORWA for the support and resources provided. They acknowledged that the training was pivotal, not only for advancing their financial literacy but also for supporting essential needs like health insurance and education for their children.
Through initiatives like these, HACORWA continues to play a crucial role in empowering communities, helping members to build a stable and prosperous future.
