COMMUNITY MANAGED SAVING GROUPS (CMSG)
We strive to boost financial literacy among the poor so that they can make informed decisions regarding their saving, investment and spending patterns for livelihood development.
"Using the collective power of the community to drive financial literacy"
Livelihood among the rural and urban poor in Singida continues to be a need that calls for attention. Poor communities struggle to get jobs from which they can earn a decent income to afford a meal, support their families, improve the household status and take their children to school. Our Response The CMSG methodology is an appropriate community-based mechanism of promoting financial literacy.
The practice of plowing back part of profits saved in a particular round has ensured continuous growth of the saving and lending capacity. With the accumulated savings the groups have been forced to seek financial institutions to keep the excess funds in their possession, which has led to the economic inclusion of members. CMSG groups have led to the social-economic empowerment of women in rural communities, they have facilitated the creation of marketing and business networks where beneficiaries are using the saving group platform to market their products both within and out of the group.