Best Family Rwanda

Best Family Rwanda is very pleased with the parents participating in the ITARA Program – GAHENGERI for their excellent Saving Group (Ikimina) initiative, which they use to improve their livelihoods, support one another, and provide mutual assistance during times of need.

This is a great example of how Best Family Rwanda beneficiaries are taking the initiative to find solutions to their own problems and build a better future together.

“Empowering families today for a better tomorrow”.

EVERYDAY CONFIDENT HOPE.

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IBIMINA (Saving Groups) are voluntary groups of people who come together to save money, lend to one another, and improve their social and economic well-being. They are typically built on trust, cooperation, and good governance.

Basic Overview

In saving groups, members contribute a fixed amount of money weekly or monthly. These pooled funds are used to:
• Provide loans to members.
• Support members during emergencies or difficult situations.
• Generate interest income from loans.
• Share savings and accumulated profits after a certain period (often after one year).

How a Saving Group Works

1. Formation of the Group
• A group of people comes together.
• Members establish rules and regulations.
• A management committee is elected to oversee the group.

1. Saving
• Each member contributes an agreed amount regularly.
• Funds are securely kept in a bank account or a lockbox with multiple keys.

1. Share-Out
• At the end of the agreed cycle, all savings and accumulated profits are distributed among members according to their individual savings contributions.

Benefits of Saving Groups

✅ Promote a culture of saving.

✅ Provide access to capital for starting or expanding income-generating activities.

✅ Help reduce poverty and improve livelihoods.

✅ Strengthen unity and cooperation within families and communities.

✅ Support members during difficult times such as illness, emergencies, or social events.

How to Build a Strong Saving Group
• Establish clear and enforceable rules.
• Maintain accurate financial records.
• Train members in financial management.
• Elect trustworthy and accountable leaders.
• Regularly monitor and evaluate the group’s performance.

IBIMINA (Saving groups) have played a significant role in improving the livelihoods of many households, particularly women, youth, and low-income communities. They help members become more financially independent through regular savings and access to affordable loans.