Publications
Published on February 6, 2010

Group savings and loans associations gain efficiency from new approaches – issue 03

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Summary

In September 2008, CARE Kenya, with support from the Kenya Financial Sector Deepening Trust (FSD Kenya) launched a pilot project for the promotion of group savings and loan (GSL) associations designed to test whether an innovative management and incentive system could lead to large outreach at low cost per member. CARE’s Community Savings and Loans (COSALO) project began forming groups in Western Kenya in November 2008 and the first groups started saving a month later in December. COSALO is a two and a half year project, with a total budget of US$1.3m and a target of reaching between 42,000 and 96,250 group members.

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