The Women Advocacy and Agriculture Development Organization (WAADO) has trained women from seven communities in Sierra Leone’s Western Rural District in Village Savings and Loan Associations (VSLAs) to strengthen their financial independence and support small-scale businesses.
The training, held on Saturday, October 24, 2026, was supported by the Embassy of Iceland in Sierra Leone, which provided NLe10,000 to each of the seven participating communities through WAADO.
WAADO Executive Director Doris said the initiative would be extended to five districts: Western Rural, Kambia, Port Loko, Bonthe and Moyamba. She described the programme as part of efforts to expand women’s access to financial services and economic opportunities.
The initiative aims to help women organize their economic activities, improve their businesses and establish VSLAs, enabling members to save collectively and access loans from pooled funds.
During the training, participants learned how VSLAs operate, including savings procedures, loan management, financial record-keeping, group leadership and measures to protect members’ contributions.
Trainer Michaela Finoh explained that VSLAs are community-based groups in which members contribute savings regularly and lend money to one another under agreed rules. At the end of a savings cycle, typically lasting between nine and 12 months, members share the accumulated savings and profits.
She emphasized the importance of transparency, democratic leadership and accountability in managing the associations. Members are expected to agree on a constitution, elect a management committee, maintain accurate financial records and count money publicly during meetings.
The training also covered the establishment of social welfare funds to help members respond to emergencies, as well as procedures for loan applications, repayments and the distribution of funds at the end of each savings cycle.
Foday Mohamed Sesay, Director of Gender in the Western Rural District at the Ministry of Gender, advised participants to report gender-related concerns and seek assistance when they encounter exploitation, abuse or other human rights violations.
He stressed the importance of protecting women’s financial interests and urged beneficiaries to avoid exploiting vulnerable children, particularly through trading activities that could put their safety and education at risk.
Sesay also warned of the dangers children may face, including road accidents, kidnapping, rape and other forms of abuse. He encouraged communities to prioritize children’s safety and ensure they have opportunities to attend school.
The VSLA model is designed to strengthen financial resilience through collective savings and locally managed lending, particularly in communities where access to formal banking and other financial services may be limited.
Under the model, members establish their own rules, manage their funds and make decisions collectively. Trainers provide guidance during the initial stages and gradually reduce their involvement as groups develop the capacity to operate independently.
WAADO’s initiative is expected to extend these financial management skills to women across the five targeted districts, with the aim of strengthening small-scale businesses, promoting financial inclusion and creating greater economic opportunities for women and their communities.
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