Thembo Solomon and Biira Suzan, Savings and Credits Access Scheme to Enhance RuralShare This:
Women in Uganda are often at an economical disadvantage when compared to their male counterparts, especially in rural areas of the country. Formal credit unions and commercial banks deem these women credit risks because they lack collateral and have minimal to no access to business loans to help their self-employed activities grow in profit. In addition, most of the women lack a formal education and although their dreams are vivid, they cannot access the means to reach them, resulting in vulnerability and poverty. To help address this, Thembo Solomon and Biira Suzan have created the Savings and Credits Access Scheme to Enhance Rural in Kasese District, Uganda.
This project will directly serve one hundred rural women beneficiaries in addition to approximately 550 other indirect beneficiaries. While Thembo and Suzan are establishing a new project, Hope for Youth Development Foundation have implemented similar methodology, introducing information on loans, expenditure management and income. Combined with this project, the spirit of savings among rural women will be encouraged and supported. Thembo and Suzan are committed to providing services that reach out to one hundred low-income women who lack access to financial services, introducing them in skills of business management, group management, group dynamics and financial literacy.
Funds from a seed grant will allow for sensitization efforts to be secured along with facilitator’s allowance, workshop materials, vegan food options and a revolving fund to be established that will help beneficiaries to get their projects started.
EAST AFRICA HUB GRANT 2015