Vendors urged to do savings - Solomon Star News

Vendors urged to do savings
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12 March 2018
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Auki market vendors president Janet Ramo speaking to guests at the international women's day marked in Auki, Malaita province.

LIKE most organizations which encourages their members to practise savings for the future, Auki Market Vendors Association in Malaita province is also encouraging women to save money for their future benefit.

Saving money can help you become financially secure and provide a safety net in case of an emergency.

"Here are a few reasons why we save: Emergency cushion - This could be any number of things: a new roof for your house, out-of-pocket medical expenses, or sudden loss of income."

President of Auki Market vendors Association (AMVA) saving scheme Janet Ramo at the recent international women day highlighted that saving is the best option for women who usually earn income from their small market activities.

She said Auki Market vendors Association saving scheme was established in 2015 and continue to encourage women to serve and manage their income for future sustainable spending.

 She said at this modern world, life will depend on how you can save for it.

 She said, most women in and around Auki have started to learn and realize the impact of saving through utilizing basic financial management skills acquire from Market for chance project funded by UN women.

 She said most of their members have benefited from this saving after they received their shares and interest at the end of the financial year.

“At beginning of this year most of our members use their saving benefits to pay for their children school fees and other family needs.

“I was encouraged and emotional when see some of our hardworking women realize the existence benefit of saving scheme.

“Women in Malaita are energising in the mean of creating avenue or ways to earn money for family needs.

“In Auki you hardly see men taking the lead in vending except for women who most of their time spending whole of the day doing their sales at the market or in front of shops,” Mrs Ramo said.

Mrs Ramo said currently the total population of AMVA saving scheme is now 75 member, 90 percent of it are women who usually vends at the market.

She said at the moment they have recorded a big amount of interest and will be shared to each active member.

She encourages more women to join the saving scheme.

“You can save from $5 to 100 or any amount that you think it is possible for you. How much you determined how much you will earn.

“An advantage of this saving is interest pay on top of every saving you make.it is better than going to banks,” Mrs Ramo said.

The membership fee is $50 .

By SOLOMON LOFANA 

 

In Auki

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