Christmas gift to CARE
This year our Christmas Gift will help girls and women in the Congo; NOK 500 000 goes to CARE and their savings and loan banks for poor women and their families.
The savings and loan groups each have their own savings box, into which a savings and insurance sum is paid each month. The group can then give loans to members and offer insurance in case someone finds themselves in a crisis situation.
Mwamini Katoto and Ruta Sekeganda live in the town of Munigi in East Congo, an area dominated by poverty and war. Many og the town's children are malnourished and few parents can afford to send their children to school. Mwamini has six children; Ruta is a mother of three.
Both women are members of CARE's savings and loan group, a micro-finance method designed to help poor women become financially independent. Through these groups, women can get loans to invest in acitvities that allow them to earn income. The group also provides an insurance scheme, in case members find themselves in a crisis situation.
"We know each other, we give each other advice, and we save together," says Mwamini.
Ninety per cent of a woman's income goes to her familie. CARE's "savings and loans" for women contribute to food, medical care, and education for the children. It is women like Mwamini and Rita who will recieve Omega's Christmas gift this year.
CARE's saving and loan groups
- Small savings and loan banks from which women can borrow money to invest in activities that provide income
- Also functions as an insurance bank
- Groups established include between 15 and 35 women
- Savings boxes have three locks to ensure shared security
- Establishing a group takes from 12 - 18 months
- Members must save a set amount each month
- After six years, 97% of the groups are still active
- For NOK 5000 CARE can start a savings and loan group
- For NOK 250 can one woman participate in a group for one year
- More about CARE's savings and loan groups
CARE's savings and loan groups have offered many women in the third world new opportunities over the past 20 years.
Contributing to local development
"With the help of these groups, many women living in poveryt have developed the skills and confidence they need to make sound economic and political decisions, which are in turn positve for their children, their childrens' education, and the development of the local community. We think it is important that we support those who will, in turn, support others." says Omega's Service Center Coordinator, Aslaug Østrem Nesheim.
CARE is one of the world's largest help organisations, assisting over 83 million people in 84 countries each year. Their savings and loan program is their most important tool to combat poverty.
"Omega is a company that thinks long term and is dedicated to contributing to genuine development. Poor women and girls are particularly vulnerable. CARE works systematically with women and girls to improve their living conditions and Omega supports this work," says Jon Ragne Bolstad, Marketing Manager for CARE.
Published: 03.12.14