Women’s Savings Groups, Microfinance, and Collective Economic Resilience in Informal Settlements

African Journal of Gender and Women Studies | Vol. 11, No. 10, October 2026 | pp. 393–406

DOI: 10.46882/2026/AJGWS/001343

Article Type: Research Article

Title: Women’s Savings Groups, Microfinance, and Collective Economic Resilience in Informal Settlements

Names of Author: Amina Kamara¹, Diego Mendoza², & Mei-Ling Zhou³

Author's Affiliation: ¹Department of Economics and Commerce, Fourah Bay College, University of Sierra Leone, Freetown, Sierra Leone; ²Department of Social Development, University of Buenos Aires, Buenos Aires, Argentina; ³School of Social Development and Public Policy, Fudan University, Shanghai, China.

Abstract:
Commercial microfinance institutions have frequently been criticized by feminist economists for charging exorbitant interest rates and relying on coercive peer-pressure recovery tactics that trap low-income women in chronic indebtedness. In contrast, self-managed rotating savings and credit associations (ROSCAs) and village savings and loan associations (VSLAs) enable women in informal urban settlements to pool resources, access emergency social funds, and build collective financial autonomy without predatory external debt. This paper compares the socio-economic outcomes of commercial microcredit versus women-led savings cooperatives in Freetown, Sierra Leone, and Buenos Aires, Argentina. Utilizing feminist political economy frameworks, the research combines financial diary tracking from 120 female members with participatory group discussions. The findings demonstrate that autonomous savings groups foster democratic financial literacy, mutual solidarity, and resilient micro-enterprise growth.

Keywords: Women’s savings groups, microfinance, informal settlements, economic resilience, feminist political economy, financial inclusion, Sierra Leone, Argentina

Manuscript Timeline: Received: September 14, 2026; Revised: October 14, 2026; Accepted: October 18, 2026; Published: October 15, 2026.

Citation: Kamara, A., Mendoza, D., & Zhou, M.-L. (2026). Women’s Savings Groups, Microfinance, and Collective Economic Resilience in Informal Settlements. African Journal of Gender and Women Studies, 11(10), 393–406. DOI: 10.46882/2026/AJGWS/001343

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