Transforming Lives: The Impact of the FAST Programme on Sakhisiwe and Cebolethu Savings Groups in Eswatini

In Eswatini, Sakhisiwe Savings Group and Cebolethu Association, part of World Vision’s Mahlalini Area Programme in the Shiselweni region, are experiencing a profound transformation thanks to the FAST programme that has been launched by VisionFund in Eswatini. Through a strategic partnership with VisionFund, Imbita Micro Finance Trust, and MTN Mobile Money, these two savings groups have been empowered with E70,000 to help grow their businesses. 

The FAST programme is a groundbreaking initiative that links savings groups that are traditionally excluded from formal financial systems to microfinance institutions like Imbita, creating a bridge to much-needed capital. For the first time, these savings groups have access to loans from formal institutions, which they can borrow from to expand their small businesses, improve their livelihoods, and support their children’s education.

Thulisile Jele, Chairperson of Cebolethu Association, spoke about the challenges their group faced in the past. “At the start of every year, we ran out of money to lend to our members,” she said. “Most of our funds were used to pay for school fees for our children. As a result, not all members were able to borrow money for their businesses. This created a lot of frustration and limited opportunities for growth.”

But with the introduction of the FAST loan initiative, the dynamics of these savings groups have changed. The E70,000 disbursed to Sakhisiwe and Cebolethu will be used to help group members start or grow their small businesses, providing them with the resources they need to generate income and support their families.

Moreover, with the funds from FAST, the groups no longer need to wait until later in the year to borrow money or worry about running out of funds after paying for school fees. This timely access to money is especially crucial in the months leading up to the new school year when the financial pressures are highest.

The initiative’s ripple effect reaches beyond just the group members themselves. Children are better supported as families can afford school fees, healthcare, and other vital needs. The overall standard of living is improving, and these savings groups are becoming more resilient in the face of financial challenges.

Eswatini is the first country where VisionFund has implemented this innovative partnership model, and the success of the FAST programme is set to inspire similar initiatives in other countries.