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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:Rural financial schemes' contribution to community development
Author:Vermaak, N.J.ISNI
Periodical:The Community Development Journal: An International Journal for Community Workers
Geographic terms:Ghana
South Africa
Subjects:community development
credit cooperatives
banking law
Abstract:This paper explores indicators for sustainable financial schemes in rural areas and evaluates such schemes in terms of their contribution to rural community development. During the 1970s, when economic development was recognized to be the dominant paradigm, scant attention was often given to the noneconomic benefits of financial incentives in rural areas. This paper argues that rural financial schemes are often evaluated with quantitative criteria in spite of the profound noneconomic benefits such schemes have for community development. Evidence is presented from success stories in Africa and Asia ('susu' collectors, individual mobile bankers, in Ghana and the Grameen Bank in Bangladesh), and fieldwork carried out in South Africa: Roscas (rotating savings and credit associations), 'stokvels' (saving and credit schemes and also a form of insurance), and Village Banks (community-managed savings and credit institutions). The 'stokvel' schemes in Levhuvhu, in Northern Province, South Africa, serve as a case study. Bibliogr., notes, sum.