Introducing CMSL in Jeffreys Bay

Community Saving and Lending is a project that combines an economic empowerment project with a research agenda. CMSL is in partnership with the Nelson Mandela Metropolitan University and Jeffreys Bay community. The Jeffreys Bay community that is low in income can join together in self-selected savings groups. The members of each group get to decide on how much each will contribute toward a group fund every week. By placing their saving together they create an internal loan fund. Group members can borrow money from that internal fund, on the agreed interest rate from their group. The fund continues to grow from the revenue from the interest rates charged on each internal loan…(read more)

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2010/09/08 | Posted in: 2007 | Comments Closed

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