WISALA

WISALA – Widows’ Savings and Loan Association – is an innovation in financial product offerings to the world’s unbanked and underbanked population. Created specifically to offer financial access to widows and female heads of households, the WISALA allows previously unbanked widows to enter into group savings and loan associations by making an initial capital investment into their savings group, effectively capitalizing their small savings and loan institution. In return for the investment, the widows own shares in the bank, granting them co-ownership status.

Once established, the Global Fund for Widows co-capitalizes the WISALA with a levered investment of 2:1 through a grant structure. This investment from Global Fund for Widows allows the WISALA and its owners to enjoy a large capital base from which the widows are able access for their micro-enterprise capital needs. The WISALA’s structure also provides opportunities for bank and share growth, as well as increased opportunities for re- investment.