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Village Savings and Loan Associations (VSLA) , Savings Groups, and Cooperatives of all kinds will be critical in coping with the long-term effects and economic slow down projected to occur in the aftermath of the Covid-19 pandemic

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The Covid-19 Pandemic has highlighted the importance of digital platforms: For communication of reliable crisis updates, keeping connected with family and friends and for financially transacting at a distance. Learn how VSLA.online is helping savings groups throughout the crisis.

  • Groups are able to meet in smaller units, eliminating the need to meet physically all at once in order to hold a meeting
  • NGOs can relay the most up to date information on Covid-19 via VSLA.online via SMS through the VSLA.online platform
  • Reduction in the need of field agents to physically visit groups
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The World Bank has projected that Sub-Saharan Africa will go into its first recession in 25 years: with economic growth projected to decline from 2 .4% in 2019 to between -2.1 to -5.1%.

hiveonline’s digital solutions: VSLA.online and myCoop.online can help farmers, cooperatives, savings groups, and micro-entrepreneurs weather the economic downturn.

  • Builds local livelihoods and community-based production as international export markets slow
  • The hiveonline platform allows for easy incorporation of e-money and mobile money transaction in lines with national legislation, reducing reliance on cash
  • Promotion of financial resilience through savings, access to finance, and farming inputs

Looking for more information on COVID-19, including best practices for Savings Groups? Contact the hiveonline team or check out some of the links below:

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