Kwame Nkrumah University of Science and Technology, Kumasi (KNUST), and Canadian non-governmental organisation Socodevi have launched a three-day training programme to help participants establish and manage village savings and loans associations (VSLAs) and strengthen financial inclusion in local communities.
The practical training brings together students, researchers, development workers and other interested individuals to develop skills in community-based savings and credit management.
Dr Bernard Archibald Senyo Agyemang, a lecturer in KNUST’s Department of Agricultural Economics, Agribusiness and Extension, said VSLAs could help farmers and other community members with limited access to formal banking services.
He said loan recovery difficulties and the distance between some communities and financial institutions hindered access to credit, underscoring the need for community-based alternatives.
“We need a way to move from the traditional susu system to one where people can create their own banks in their communities,” he said.
Dr. Agyemang said VSLAs could enable members to save regularly and access funds for needs such as medical expenses and business investments. He encouraged participants, particularly students, to gain practical knowledge and build relationships with development practitioners during the training.
Dr Theophilus Nkansah, an organisational and enterprise development specialist at Socodevi, said the programme would equip participants with the knowledge and skills to establish and manage effective savings groups.
The sessions would cover the VSLA model, its methodology and governance structures, with an emphasis on group formation, leadership, accountability and long-term sustainability, he said.
The Dean of the Faculty of Agriculture, Professor Fred Nimoh, welcomed the collaboration and said the faculty was committed to partnerships that connected academic knowledge with practical development needs.
He said collaboration with industry stakeholders was important to ensuring the university’s work benefited society, particularly local communities.
Prof. Nimoh said he hoped the training would deepen participants’ understanding of the VSLA model and its potential to support community development in the Ashanti and Western North regions.
Story: Belinda Opoku Danso Photos: Edwin Opoku-Agyemang
