HFDI Provides Technical Support To Savings And Internal Lending Community In Akwa Ibom
Hope for Family Development Initiative HFDI has provided Technical Support to Savings And Internal Lending Community (SILC) In Etinan LGA Akwa Ibom state.
The aim of the SILC group was to empower youths through savings and lending activities, enhancing their livelihoods and businesses.
The technical support carried out by the community mobilization officer, was to monitor the progress of the SILC group, identify challenges and encourage saving culture among members.
The SILC discussion showed the social fund contributions, which members made ranging from a n agreed minimum amount to a maximum as per the group’s constitution.
HFDI mobilisation officer, Daniel Williams encouraged members to continue saving and emphasized the importance of consistency in attending meetings and recording savings, and urged them to be committed in working together to achieve their financial goals..
The technical support enhanced the SILC group to schedule regular meetings, organize training sessions on financial management and entrepreneurship, monitor progress and track savings, lending, and repayment, and address challenges and review issues.
According to Daniel, the action plan for the SILC group includes completing the six-month savings cycle by December 2025, evaluating progress and impact, expanding membership and savings products, and introducing micro-enterprise development training.