Daring to Discover financial saving with technology

By Agatha Mali, Communications, Zambia

Referential, 22, lives in Kanchomba, a rural village in the heart of Pemba district. Known for her warm smile and unwavering determination, she recently completed her secondary education and saw an opportunity to build a better future for herself and her family by joining a savings group. 

In 2023, World Vision conducted a training in Saving for Transformation for a number of selected youths in the Kanchomba community. Referential was one of the participants,. 

“After completing my secondary education, I wondered what was next, but when World Vision empowered me with knowledge, my mind was transformed,” says Referential. “I benefited so much from the training because from there, I was able to set goals for myself.”

After attending the , training, Referential and other youths formed their own saving group, which they named Dare to Discover ( D2D). 

Everything changed when she joined the savings group. Not only did Referential become an active member, but she also took on the role of the group's secretary.  World Vision also provided training on financial literacy, business management, and leadership. The referential eagerly participated in responsibilities that enhanced her organizational skills and boosted her confidence. 

"Being the secretary of the group gives me a sense of purpose and belonging. I feel valued and respected," Referential says.

World Vision also provided training on financial literacy, business management, and leadership. The referential eagerly participated, absorbing knowledge that she applied to her growing business. 

"The training sessions were eye-opening. I learned how to manage my finances better and plan for the future," she reflects.

The savings group model encouraged members to save small amounts regularly and provided access to loans for personal and business needs. Referential utilized her first loan to start a small shoe-selling business. The company grew steadily, and soon, she could buy livestock with hopes to start livestock farming. 

"The loan from the savings group was a lifeline. It allowed me to start my own business and generate income," Referential shares.

"I now own three goats and five chickens, and I dream that they should multiply in good numbers so that I can start selling and raise money for my tertiary education," she says. 

Referential's transformation has not stopped at financial stability. The confidence she has gained through her role and the success of her business inspired her to pursue further education. She enrolled in a General Certificate Education so that she could rewrite two subjects that she did not do well in her secondary education final exams. She hopes to clear the exams to have a good paper that will enable her to proceed to the tertiary level. 

"Education is a powerful tool, and I wanted to equip myself with as much knowledge as possible," Referential explains.

Referential says the saving group has also transformed lives of many other youths in her community.

 "In the beginning, we were doubtful if the saving group would work because we did not have money to start the saving with and for some, they thought that our money could be stolen. But so far, we are doing very well," she says. 

To help manage the savings groups and money well, World Vision introduced a savings accountability tool: DreamSave, a Financial Technology application used for informal community banks and saving groups. Referential's Dare to Discover saving group uses the application.

"DreamSave has made it easy for our group to manage financial records, achieve savings goals, and build credit history," she says. "It guides us most especially on the loan parts; when a member has a loan, it indicates that the member is not eligible to request another loan.

Not only has Referential been empowered with savings knowledge, but she was also selected as a champion to support the Saving for Transformation groups in understanding and using the DreamSave application.

Referential draws her inspiration from her mother, Sarafina, a very hardworking savings group community agent. She says her mother encourages her to work hard and to chase her goals. 

"I am grateful to World Vision for their mindset transformation to our area. Many youths are no longer dependent on their parents, but they can do many things through the knowledge empowerment World Vision gave us," says Referentials