Hi Mary, thanks for the question.

The safety of women is of the highest importance to us, and the risk of theft is something we give much consideration to for VSLAs. Each metallic box where savings are stored has multiple padlocks with different people in the VSLA in charge of different keys. This helps ensure that the box can only be opened with multiple group members present, and only at VSLA meetings. This is one deterrent. Community support for the VSLA can also provide some protection from theft due to the shame such a theft would bring on a family in the eyes of the community.

There are still inevitable risks though. In African countries where VSLA programs are more mature, we look for ways to link these VSLA groups with suitable formal financial services in their country. This includes trials to link groups with mobile banking services like M-PESA so that they can more safely store their money, and can access it quickly and easily. You can read about this pilot project here: http://www.careinternational.org.uk/linking-for-change/images/technical%20learning%20series%20publication%202%20-%20mobile%20banking%20tanzania.pdf.

Thank you,
– CARE Australia