hiveonline Community Finance vs Covid-19
Savings groups and cooperatives are critical to reversing the Covid-19 economic slowdown
Crisis response & social distancing
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 can to meet in smaller units, confident thanks to transparency and digital records
- NGOs can relay the most up to date information via vsla.online without the need for physical visits
- Real-time, remote monitoring of group activity
Supporting savings groups and cooperatives through the economic downturn
Sub-Saharan Africa is in its first recession in 25 years: with economic growth down 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.
- Voucher distribution for government or NGO support schemes
- Promotion of financial resilience through savings, access to finance, and farming inputs
- Builds local livelihoods and community-based production as international export markets slow
- Allows for easy incorporation of e-money and mobile money transaction in lines with national legislation, reducing reliance on cash
Resources for savings groups
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: