By Ibrahim Sesay 

Stakeholders in community finance and rural development have called for stronger collaboration, digitization and sustainability of Village Savings and Loan Associations (VSLAs) in Sierra Leone during a one-day conference held at the Atlantic Lumley Hotel in Freetown.

The conference, held on May 6, 2026, was organized by Woord en Daad in partnership with Solidaridad Sierra Leone, World Vision International and Cotton Tree Foundation.

Delivering the opening statement on behalf of Woord en Daad, Thomas Momoh Bokarie said the conference was aimed at bringing together stakeholders, practitioners and community members to reflect on the progress of VSLA initiatives and explore ways of strengthening financial inclusion and economic resilience across communities.

“This gathering provides an important platform for stakeholders, practitioners and community members to reflect on the progress of VSLA initiatives, share experiences and explore practical ways to strengthen financial inclusion and economic resilience across our communities,” he said.

A major highlight of the conference was the presentation of findings from a baseline study on VSLAs in Sierra Leone by Pascal Ooms, Senior Grant Advisor and Business Developer/Strategic Advisor for West Africa at Woord en Daad.

According to the report, the study mapped 979 VSLA groups with a total membership of 33,826 people across Sierra Leone, including 23,311 women and 10,515 men. The report also revealed that 14,538 members, representing 43 percent, were youths below the age of 35.

The study described VSLAs as community-based microfinance groups that enable members to collectively save money, access small loans and receive emergency support without relying on formal banking institutions.

Speaking to journalists, Pascal Ooms said the study was conducted to better understand the needs, challenges and future opportunities for VSLA groups in the country.

Pascal Ooms noted that one of the major findings of the study was the strong participation of women and youths in the VSLA movement.

“About 70 percent of these VSLAs consist of women and you also see women in leadership positions. We also found strong youth participation, as well as the inclusion of persons with disabilities, widow, and orphans,” he explained.

The report further indicated that many VSLA groups viewed themselves as effective and beneficial to members, particularly in supporting income-generating activities, farming and payment of school fees.

However, several challenges affecting the sustainability of the groups were identified which include low savings contributions, poor record keeping, loan defaults, leadership disputes, low meeting attendance, lack of training and dependence on external support.

The study also highlighted growing interest in digitalization among VSLA groups. Findings showed that 852 groups believed digital record keeping would be better than manual systems, while 912 groups expressed willingness to transition to digital bookkeeping.

“One of the surprising findings was that people are highly motivated to digitalize. Even though there is still some distrust in banks, many groups are willing to open bank accounts and even use mobile money services,” Pascal Ooms said.

The conference additionally explored the possibility of federating VSLA groups to strengthen cooperation and improve access to larger financial opportunities. Although awareness of VSLA federations remains low, many groups reportedly expressed willingness to collaborate with others if the benefits were clearly explained.

The report concluded that while many VSLA groups demonstrated strong self-management and sustainability, greater efforts were needed to reduce donor dependency, improve training and strengthen collaboration among organizations supporting community savings schemes.

Participants also discussed the need to develop a defined action plan and the next steps which would improve financial stability and enhance long-term sustainability of the groups in Sierra Leone. https://thecalabashnewspaper.com/woord-en-daad-solidaridad-world-vision-cotton-tree-foundation-push-for-stronger-and-sustainable-vslas-in-sierra-leone/