Traditional Authority Chadza in Lilongwe has hailed village savings loans (VSL’s) as an effective pool for reducing poverty among the ultra-poor. Chadza said this on Tuesday at his Msozi headquarters when members of VSL were sharing their profits. He mentioned Mwala Mlendo Village Bank as an example of a VSL which has transformed the lives of 12 families which depended on various social safety net programmes run by government.
Lilongwe district community development officer for Lilongwe Annie Kamwendo, whose office is responsible for ensuring that VSL’s thrive, said Lilongwe has over 200 registered Village Savings Loans entities.
