Community Savings and Loans Organization (COSALO)

<p>The Community Savings and Loans Organization (COSALO) is an initiative of the African Divine Church designed to promote financial inclusion and economic empowerment among community members. The program focuses on:</p><ul><li><strong>Savings Mobilization:</strong> Encouraging members to save regularly through group-based savings schemes</li><li><strong>Access to Credit:</strong> Providing loans at reasonable interest rates for income-generating activities</li><li><strong>Financial Literacy:</strong> Training members on basic financial management and business skills</li><li><strong>Group Formation:</strong> Facilitating the formation of savings and loan groups, particularly among youth, women, and widows</li></ul><p><strong>Program Impact:</strong></p><ul><li>Empowered youth to start small businesses</li><li>Enabled orphans and vulnerable children to access education through educational loans</li><li>Supported widows and women to become economically self-reliant</li><li>Created a culture of saving and financial discipline in communities</li></ul><p>COSALO operates through community-based groups that meet regularly to save, discuss business ideas, and support each other. The program is aligned with the church's core values of education and empowerment, and service and stewardship. It demonstrates the church's commitment to holistic development that addresses both spiritual and material needs of communities.</p><p>The program is implemented under the leadership of Rev. Paul Nyundu, who oversees the Entrepreneurship and Cooperative department of the church.</p>