More than 400 cocoa farmers in the Ellembelle District in the Western Region have embraced the Village Savings and Loan (VSL) concept, introduced by the Coastal Sustainable Landscapes Projects (CSLP).

The concept, which allows cocoa farmers to mobilise and manage their income by putting their monies into one pool of fund, enables members to save some percentage of their income and take loans from it.

Mr Emmanuel Abiro Atubiga, Secretary of Ayawora Village Savings and Loan Association, told Ghana News Agency, during a field inspection at Ayawora and Adubrim that any member who wants to take a loan from the fund must meet all the Association’s requirements adding that such loans attract a five per cent interest.

Odikro Mantey, Chief of Ayawora, said the Village Savings and Loan Association has been of immense help to cocoa farmers in the community as many have received loans to expand their cocoa farms, businesses, as well as make payment for school fees, healthcare and other emergency expenses.

There is also a social fund attached to the scheme and this enables members to undertake various social investment projects in the community, he said.

The CSLP, which is a United States forest service project, aims at promoting forest conservation and strengthening the capacity of rural folks towards low emission of carbon dioxide.

The CSLP introduced the VSL concept as a way of facilitating entrepreneurship, self-help tool among cocoa farmers and offer alternative source of income for them.

It is a three-year project implemented in six coastal districts of the region, including Shama, Sekondi-Takoradi, Ahanta West, Nzema East, Ellembelle and Jomoro.

It involves 17 communities for the first phase while the second phase would include 23 communities.

Some alternative sources of income the CSLP has provided to farmers within the past one-and-half years include, bee keeping, tree planting for charcoal production and the credit and savings plan.

However, some of the farmers complained about fungicide infestation on their cocoa farms and bad roads, which makes it difficult for them to access market centres, especially during rainy seasons.

Alhaji Salifu Abdul Razaque Ziblim, Regional Director of the Ministry of Food and Agriculture, reminded the farmers on the need to regularly prune their cocoa farms to ensure proper air ventilation.