Our charity for November is very much aligned with Think’s own processes.
This month, we have partnered with World Vision! A humanitarian organisation that empowers communities to become self-sufficient via financial education. They implement savings groups in communities that address issues that keep families in poverty, such as exclusion from financial services or a lack of capital. These savings groups are set up so that members can take out loans, for example as capital investment to start businesses, or to buy resources for current projects. As they start to make a profit, this money is then repaid with a small amount of interest which in turn can be used by another member of the group, and so on and so forth.
These savings groups are member-owned, all that World Vision do is help set up the groups along with initial financial training and financial support. However, they do continue to provide this support to ensure that members are making good financial decisions. From inception, they are a resource to help communities combat poverty via promoting autonomy and ensuring that there is longevity in the results, even long after they leave a community. Globally, World Vision supports over 1.5 million savings group members, saving to date over $37 million.
With that said, we have provided £2,000 to help support one of these savings groups in Sierra Leone! This will help families and young entrepreneurs explore ways that they can grow, both independently and as a community.
We’re so pleased to be able to support World Vision, and will definitely keep you updated with what our savings group in Sierra Leone does with their pot!