Rural women in Zambia lack access to affordable credit and financial services. They have less access to loans, insurance on crops, livestock and other productive resources making it difficult for them to engage in economic opportunities such as entrepreneurship. This has been one of many factors that perpetuate poverty among rural women in Zambia.

Thus, in Chingola Kansanshi mine and Zambia land Alliance has been training rural women on savings groups. Rural Women’s Assembly Chingola has been a beneficiary of the training and has created two village banking groups, one in Kamunkoyo and another in Luano. Rural women’s assembly Mungule also has one village banking Group.

The savings groups model known as village banking is a strategy by various stakeholders to enhance financial inclusion in rural women. It encourages individuals, often women to form groups of about 15-30 members within their communities. Those members then regularly pool their savings to have a source of lending funds from which they can make savings and contributions to the pool and borrow with a minimal interest of at least 10%. This makes it possible for members to earn interest on their savings throughout the cycle which may run up to 12 months.

The village banking groups have taught the women to appreciate the importance of saving. Other than that, rural women have also learnt how to count money. The rural women have also conquered poverty at household level and the loans they get from the savings groups help in expanding their businesses since they pay back with a small interest.