Providing Financial Literacy to Goat Owners

The goat project that we began with the farmer cooperative, AFAEK (Asosiyasion Fanmiy Agwo Ekologik Kotlèt) in 2015 is going strong. All 66 goats were distributed at the end of the summer, and as more are born, the first redistribution is set for the end of this year. The goat owners are grateful to own a goat because they express how it will contribute to their economic well-being and support their families. Their goal is to own more goats, as well as other livestock, to strengthen their community and support the local population.

Beneficiary Derval, on the left, and beneficiary Wilfride, on the right, take pictures with their newly owned goats in April 2016.

While the goat project is underway, SolKomYo has introduced its financial security innovation, FOCOPI (Community Fund for Prevention and Investment), to the farmer cooperative. SolKomYo worked with AFAEK to select the most active community leaders and trained them in the financial literacy education training. SolKomYo designed a training that is dynamic and conversational to adapt to the realities of the goat-owners. Of the 17 members that participated, 9 were selected to become trainers. These 9 trainers will continue to spread the financial literacy knowledge to its community members.

SolKomYo member, Felix Bertrand, conducts the financial literacy training to the selected goat owners that will become trainers.

Financial literacy is important for the goat owners because it includes themes about understanding one’s cash flow and expenses, making a family budget, and learning about strategies to save. With this knowledge, community members can make informed decisions about their expenses and understand investments that will support their families for the long-term.

The 9 trainers also began the intermediate phase of the FOCOPI program, which is opening their own savings group. SolKomYo introduces the FOCOPI savings groups to provide a community-based solution to increase one’s savings. While the region of Cotelette is isolated, the FOCOPI savings group methodology allows group members to save and take out loans amongst themselves, without relying on a formal bank or outside group. By first forming a group with the 9 trainers, they will be able to learn the methodology and open savings groups in their communities, allowing the members to put into practice the strategies they learn during the financial literacy course.

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The trainers that were selected meet to form their own savings group. By learning the methodology, they will eventually be able to form additional savings groups in their communities.

The work that has been achieved with AFAEK, the farmer cooperative, represents the strong relationship that SolKomYo and the AFAEK members have reached. It is thanks to this partnership that the two organizations can implement programs such as FOCOPI that provide valuable services to its members.

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The beneficiaries that became specialists in the FOCOPI Basic Program. Now that they are trained, they will begin teaching financial literacy to other goat owners in their community.

Solisyon Kominote Yo would like to give large thanks to the support of the International Finance Corporation (IFC) for funding SolKomYo’s agriculture projects.

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