An impact study of the village savings and loan association (VSLA) in Nigeria

Abstract

Background: The VSLA is an emerging movement of savings that promotes entrepreneurship development in rural communities; it has supported the growth of small and medium enterprise in rural communities as well as helped families at risk to enhance family well-being. There are however scare empirical studies on VSLAs in Nigeria, hence impact and learning is often not in the public domain. Method: In this article, we endeavored to clarify concept and present result from a qualitative study using Focus Group Discussion (FGD) for 48 families who participated in the SOS Children's Villages Nigeria Family strengthening from 2010-2015. Result: Overall result suggest that VSLA is a programme intervention that is successful and sustainable. Results revealed that 70% of the families in the programme attained self-reliance within the project life span Conclusion: The results are discussed in relation to entrepreneurship development and need for social workers to create awareness on VSLA in rural communities in Nigeria.