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How to Start a Saving Circle in Your Community

Business and Career

How to Start a Saving Circle in Your Community

How to Start a Saving Circle in Your Community

An empowered woman is a financial powerhouse. Aside from the fact that she is more informed about how to make her life better, she is also empowered to make financial decisions that will benefit her family and relatives.

Saving Circles or Ajo or Esusu or whatever it is called in your local dialect has existed for generations.

Women coming together to save is a beautiful phenomenon. These funds are used to power so many things from improving their business to educating their children. There are many young people who will proudly tell you that they were able to get an education because their mother had a savings circle.

This is how to start a savings circle in your community.

Talk to women leaders

Every community has a women leader and it is not always who you think it is. There are women who have the power to convince a lot of other women in the community to take action. They are the key to the success of your savings circle. As long as they believe in what you are doing and how it impacts them as individuals, they will follow you to the ends of the earth.

Identify the women leaders, explain how your savings circle will operate, criteria for entry and benefits. They will help you filter who and who. This saves you a lot of stress and unforeseen issues.

Mobilise potential members of your circle

Once you have gotten potential members of the circle from your women leaders. Gather everyone and brief them. The brief will include how to save, their daily or weekly contributions, ballot for deciding how to share the funds and any other details that may arise.

Integrate POS/Mobile Money Expenses

The cashless policy is spreading throughout Africa. Ensure you use all the cashless methods available in your community. You can have everyone deposit via your local POS/ATM services. This will help you to stay safe. There are instances where saving circles are targeted by armed robbers.

A saving circle will give women in your community more spending power and help them better their lives.

If you currently run a savings circle in your community and will like to reach out with some tips, please contact me via

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