Nuno Soares leads cooperative group in Mindelo village, Manufahi municipality
Nuno said, “Before establishing our cooperative group in Mindelo, Manufahi municipality, we attended a three-day training organized by CVTL. The training focused on knowledge and skills to establish cooperative groups. After completing the training, we officially formed our cooperative group with a total of nine members.”
He went on to say, “With the support and guidance of CVTL, we learned how to organize our group and make decisions collectively. CVTL also provided material support to our cooperative group, such as registration items (books, pen ruler and safe storage), which helped us to manage our group effectively.
The cooperative group in Mindelo, in the period of six months from October 2025 to March 2026, accumulated a total of $1,345.25. The amount of money comes from principal ($1,053.00), interest from the loan ($237.00), social money ($50.00), fine loan ($1.00), and late member fee ($0.25). The main money comes from the nine group members and is submitted monthly. The amount the member contributes, however, varies depending on our pocket. Interest was earned on loans of varying amounts provided to eleven people.
The group provides loans not only to employees but also to the community. However, the guidelines are clear that the loan must provide collateral, such as a motorcycle or livestock (e.g., cattle), to ensure responsibility and payment.
As the head of this group, I am proud of my membership in the cooperative group in Mindelo. This experience has shown that with the right guidance, training, and cooperation, even a small group can create a significant impact.”
Nicolau Ornai, a satisfied client of the cooperative group in Mindelo village, Manufahi municipality
“I am very happy because I can borrow money from the cooperative group in Mindelo to help me in times of need. I have borrowed money in the amount of $100.00 from this group with 10% monthly interest. I borrowed for two months totaling 20%.
This system is better than borrowing money from individuals. I used to borrow money from some of my colleagues in the amount of $100.00, but when it came time to pay back, the interest rate suddenly rose to 20% and there was a misunderstanding because there was no written agreement. I trust this cooperative group because everything is clear and transparent. The rules are fair.
This cooperative group is very important to our community I recommend to other friends if you need money can come to Mindelo to borrow money according to our ability after the group attends well and quickly.”
