Support for the development of the Kyalule Cooperative
Area of Intervention: Microfinance
Project: Support for the development of a Savings And Credit Cooperative (SACCO) already established in the Sironko District.
Context: Many SACCOs have established themselves in the Uganda’s Eastern region with their own means and setting up their own strategies and working procedures. This isolation, although a clear and proud sign of their wish to develop themselves, does not let them access optimised functioning techniques and funds.
Needs: The actual funds available within those SACCOs do not allow for material and conceptual improvements necessary to the optimal development of their infrastructures. The access to external financial funds remains difficult as well because of their geographical and economic situations.
Project objectives: Further improve the living conditions and prospects of the Kyalule SACCO members.
Beneficiaries: 350 direct beneficiaries (members of the Kyalule SACCO) including 50% of women. Additional indirect beneficiaries given the commercial aspect of the project.
Seeds main activities: 1) Providing the members and the board with a 3 months long training on business techniques, cooperative functioning and good-practices on fundraising, 2) the donation of a laptop computer in order to digitalise their books, 3) a low interest-rate loan to finance the purchase of a solar panels system capable of providing power for the proper functioning of the SACCO.
Budget: 1400 € for 2017