AFECCOR Supporting Artisanal Gold Mining Communities to Access Savings and Credit
The Artisanal Mining Women’s Empowerment Credit & Savings project, known by its French acronym AFECCOR, supports women and men in artisanal gold mining communities to access savings and credit in an effort to promote entrepreneurship and security. IMPACT supports local artisanal gold miners and community members to establish Village Savings and Loans Associations (VSLAs). Members meet regularly over one year to invest their money into their association’s savings and to loan their growing funds to group members. The interest paid on the loans goes back into the communal pot so group members see their savings increase over time. The AFECCOR project provides a safe space for all members of the association to save and access credit in a context that lacks even the most basic financial services. Throughout the project, artisanal miners and community members decrease their reliance on predatory informal credit networks, while fostering social cohesion. AFECCOR also promotes women’s leadership and economic empowerment in their homes, artisanal mine sites, and the wider community. Through the AFECCOR project, we’re supporting community-led financial services in artisanal gold mining communities to contribute to equitable peace and development.