Research shows that agriculture contributes about 25 percent to Nigeria’s GDP and employs nearly 70 percent of the country’s population. However, farmers still struggle with low productivity, the adverse effects of climate change, and limited financial access for smallholder farmers. This isn’t any different in Enugu state as farmers are plagued by limited resources and access to financial services, making it even more challenging for farmers to adopt sustainable farming practices.
Understanding this need, South Saharan Social Development Organization in partnership with ActionAid Nigeria through the Strategic Partnership Agreement II program will establish a Village Savings and Loans Association (VSLA ) in its three project communities: Umuogili, Oduma Achara, and Ihenyi to help with the financial constraint.
VSLA is a self-select savings group that uses members savings to lend to each other so they can grow their businesses. VSLAs offer a community-based financial platform that empowers farmers to invest in sustainable agricultural practices.
Through these community-driven financial solutions, farmers can secure the necessary funds to implement sustainable farming techniques, thereby contributing to the resilience and prosperity of agricultural communities in the region.
The third VSLA in Oduma Achara has been successfully set up and farmers trained in financial literacy and entrepreneurship. The group has selected its executives and is fully operational. The group will be monitored to proffer technical assistance and guarantee the sustainability and effectiveness of the VSLA operations.
