One cash box, three keys, and a simple rule: money set aside must be used to move forward. In Andapa, 228 ‘Voamami’—or village savings and credit associations—bring households together around this principle. The largest fund has reached 28.94 million ariary. Behind this figure lies a growing practice: saving together to invest when the opportunity arises. Integrated into the ‘Asa Avotra Mirindra’ productive social safety net program, Voamami allows members to obtain small loans to finance their projects, particularly income-generating activities. Each member contributes 500 ariary per week for social savings, and shares can also be purchased at 2,000 ariary each, according to the association’s rules.
The benefits are tangible for those who use credit to boost their businesses. One participant specializing in second-hand clothing sales was able to purchase two bales of clothes thanks to her loan.
“Voamami money bears fruit when it is truly used for the intended project,” explains Julie Annie, a village agent, sharing her experience. However, the loan is only part of the system. The true uniqueness of Voamami lies in its culture. Here, trust is built through meetings. There is no bank account: the money is kept in a box with three keys held by three different members. Operations take place in front of the group. Everyone knows what goes in, what comes out, and how the money is used.
This organization also imposes discipline. Tardiness and absences from meetings can be sanctioned according to the association’s regulations. Members thus learn to respect collective commitments. The confidentiality of information regarding savings and credits also reinforces trust. Loans are repaid over three months with a 10% interest rate. These interests remain in the box and allow the capital to grow. At the end of the nine-month cycle, the capital and interest are distributed among members according to their level of savings.
More than just a cash box, Voamami creates a small economy at the community level: people save together, trust each other, invest, and collectively grow their money.
Captured & Published at: 2026-09-24 06:23:44 (Madagascar Local Time EAT)
Original Source: https://www.lexpress.mg/2026/09/andapa-lepargne-et-le-credit-se.html
