Microfinance groups in Iganga District

(Village Savings and Loans Associations)

Intervention area: Microfinance

 

Situation

60% of those future beneficiaries survive on less than 1,25€ a week and 70% are illiterate. Also, only 17% of the entire District population possesses a bank account. (Source: Uganda Bureau of Statistics)

 

Needs

This part of the population needs to access these resources within their communities as well as receive advice on how to use them efficiently.

 

Project 

Since 2018, working as partners with the United African Orphans and Widows Foundation in the Iganga District, we created 20 groups, each composed of 25 widows or foster mothers, which, by extent has changed over 500 individuals' future prospects.

Beneficiaries

 Widows and Children living below the poverty line (earning less than $1 a day).

 

Main activities

1. To provide the groups with teaching and assistance from Damien, Frédéric and Juliet, our experts on the field, to build their own Savings & Loans Association at their community scale.

2. To provide the financial resources needed for the development of these VSLAs, such as covering the overall costs of trainings and basic working stationaries.

 

Calendar : 

 

Budget: In 2018: 3.120 € for the formation, training, monitoring of 20 groups as well as for the training of almost 2 local volunteers now qualified for any VSLA trainings.

Partners

  • United African Orphans and Widows Foundation : a non-profit voluntary organisation operating in Iganga, Eastern Uganda. Due to the high number of HIV/AIDS orphans and widows in the region, the need for such an establishment was urgent. UAOWF was established in 2004 and officially registered by a group of concerned citizens who are professionals in the fields of health, community development, and education.