ANNOUAZÊ Group

Annouanzê is a close-knit VSLA of 30 members, including 23 women, in Yaokouakoukro. Formed in 2022 with CARE, this group of traders saves weekly and is applying for its first loan to boost stocks and local trade.

Based in Yaokouakoukro, the Annouanzê VSLA was founded in 2022. It brings together 30 members (23 women and 7 men) with an average age of 39. Almost all have lived in the village for years and know one another well, with the majority operating small retail businesses. Since its inception, the group has benefited from regular field guidance from CARE officer, Mr Amidou.

The group meets every Sunday at 7:00 AM. Each member contributes 1,000 XOF in weekly savings, alongside 100 XOF to a dedicated solidarity fund. These pooled savings fund three-month internal loans at a 10% interest rate. Strict group discipline is maintained through symbolic 100 XOF fines for late arrivals, unexcused absences, disruptions, or ringing phones during meetings.

Mutual trust and solidarity are at the core of the group’s journey. Having started with 20 members, they welcomed 10 more during their second cycle, maintaining a 100% retention rate with zero dropouts. Total savings distributed at the end of each cycle have grown continuously: from 1,250,000 XOF in their first cycle to 1,520,000 XOF in the second, reaching 1,729,000 XOF in the third. Their fourth cycle began in April 2026 for a 12-month period. They maintain a flawless repayment record on internal loans and hold no external debts.

However, the group's internal savings can no longer meet the growing capital requirements of its members. They are therefore applying for their very first formal bank loan: 2,810,000 XOF over 6 months, to benefit 10 members. Each recipient will receive between 200,000 and 300,000 XOF to expand trades they have successfully managed for years. With 963,000 XOF already saved in their group bank account, they will pay monthly interest from ongoing contributions and settle the principal sum in full at maturity through internal loan repayments.

Here is how several members plan to invest their share:

Kouassi sells smoked fish. She will use her loan allocation to rebuild her stock, allowing her to serve more customers and increase her profit margins.

Konan runs a food kiosk and general store. He will invest in restocking essential household goods and daily provisions.

Amani is a yam trader. He plans to buy larger quantities of yams to expand his inventory and increase his overall earnings.

This loan will enable members to better stock their shops, expand sales, and secure higher incomes. As the group is predominantly female, this financing will directly foster women’s economic empowerment and financial independence. Beyond individual households, these thriving businesses play a crucial role in supplying the village and surrounding areas with smoked fish, yams, essential food products, and clothing.

Note: 1,000,000 XOF = approximately £1.270.

Village Savings and Loans Associations (VSLAs) empower communities, especially women, to take control of their finances by saving together and lending to one another. For over 30 years, CARE has championed the life-changing impact of VSLAs as a pathway to financial inclusion. As members’ ambitions grow, partnerships built by Lendwithcare can help connect these groups to formal financial institutions—unlocking access to greater investment, stronger businesses, and brighter futures.