This blog post was written by Megan Henderson, our Senior Communications & Events Officer.

Five Talents has over 20 years of experience working with partners to set up Savings Groups that equip entrepreneurs with safe access to financial services and business skills training. The communities where partner organisations are working are often financially excluded and have limited access to education. Savings Groups enable members to build a brighter future. But what does that mean, and how does it look?

Five Talents works in 8 different countries. We work alongside a partner organisation in each programme country - often our partner is the Anglican Church Diocese or the Mothers’ Union. WIth funding and support from Five Talents, our partner organisation hires and trains trainers who then form, train and support Savings Groups.

Many of the members who join Savings Groups do not have access to formal financial institutions. This means they do not have a safe place to save their money or take out a loan. Alongside that, members may not have learned how to build a budget, read, write and count. These challenges make it difficult to utilise their talents, participate in society and provide an income for a family. In Savings Groups, members can receive training and begin to plan their financial future. The combination of access to skills training, finance and a community group enables members to solve their own problems in their own way. To find out more about the power of literacy, skills training and community Savings Groups, meet Sonia, a member in Burundi!

Savings Groups can have an immense impact on communities. In 2017, we conducted an impact survey across programmes in Kenya. We found that Savings Group members significantly increased their household expenditure, their ability to pay school fees, their access to healthcare and were able to afford 3 meals a day.

You can learn more about the impact of Savings Groups by reading our 2020 Impact Report. We’d love your help equipping entrepreneurs with Savings Groups! Find new ways to support Five Talents here.