Creation of a Savings And Credit Cooperatives in Uganda (SACCO)
Intervention area: Microfinance
Project: Creation of a Savings and Credit Cooperative made of Village Savings and Loans Association groups.
Context: The creation and the success of the VSLA groups naturally led to their transformation into a SACCO that would add a business value to the only savings and loans activities of the VSLA.
Needs: The plethora of, especially agricultural, businesses in the Sironko District confines every farmer within their own means of transport, storage, marketing …etc. Bulking those will mean maximising investments and individual profits.
Project objectives: Further improve living conditions and prospects of women and families taking part in the VSLA Programme. Providing them both with the requisite financial ressources and the necessary follow-up for the growth of their revenue generating activities. This should also enhance the sense of solidarity between the groups.
Beneficiaries: 4680 direct beneficiaries, mainly women living below the poverty line (earning less than $1 a day).
Seeds main activities: 1) Covering the overall costs mobilizing all VSLA groups as well as the training of its board by a professional local coach on business practices and cooperative functioning, 2) technical support provided by Seeds volunteers.
Organisation: The project is implemented in collaboration with Seeds’ local partner, Ndiiba Empowering Women (NEW) Foundation, which was founded in 2006 by 36 women of Ndiiba village in the Sironko District, as well as with the support of David Wanyama, member of the Uganda Cooperative Savings and Credit Union Limited (UCSCUL).
Budget: 5400 € since 2017.