Money-pot
Hope for a Child inner city village savings & loans groups - Kampala, Uganda.
Hope for a Child inner city village savings & loans groups - Kampala, Uganda.
Hope for a Child inner city village savings & loans groups - Kampala, Uganda.
Hope for a Child inner city village savings & loans groups - Kampala, Uganda.
Hope for a Child inner city village savings & loans groups - Kampala, Uganda.
Hope for a Child facilitates 7 VSLA groups within Kibuli inner-city community in Kampala, Uganda.
Our Ugandan program coordinator Rose Gidongo has started 7 urban savings and loan groups. Urban VSLA groups have the additional complications of security and the more rapid movement of individuals into and out of a community.
The original Kampala groups that have been created are called ‘Faith and Hope group’, ‘Prime Destined VSLA’, ‘Blessed VSLA’ and ‘God Cares VSLA’. The 3 new VSLA groups that have been started are called ‘City’, ‘Wabigalo’ and ‘Good Hope’ groups.
Each group consists of between 25 – 30 individuals who were chosen as the pioneers for the scheme in Kibuli. The groups consist of a total of 160 members with 126 women and 34 men. The higher proportion of women is due to them remaining in the greatest need for VSLA.
Quick Stats:
Total group statistics – Quarter 2 (Jan 2010 – June 2010)
Total membership: 34
Total number of females: 126
Total number of males: 160
Cumulative savings: £4,453
Total number of loans handed out: 42
Total loan value: £3,602
‘Hope for Faith’ VSLA were the first group to complete their first cycle. They have been very successful with savings of £2,000 being achieved. At the end of the cycle the savings were distributed according to the number of shares purchased by individuals. This ranged from savings of £84 – £267.
Current success stories since the creation of the groups in January 2009:
Alice Nabuzale:
Alice is a single mother of 3. Alice had very poor living conditions. Alice had a very small pancake business which provided her with a small amount of money to live on. When HFaC introduced VSLA within the slum where she was living, Alice was one of the first people to register. She began saving her money and took out her first loan of £50. With this first loan Alice used the money to increase her pancake business and she also began to buy and sell charcoal. This allowed her to gather together enough money to pay for her son’s school fees.
Alice then went on to save more money and take out another two loans for £65 each, she used this to develop her businesses further by buying a second hand refrigerator and a popcorn machine! Alice has now opened a drinks joint and she uses the refrigerator to cool passion juice, water, soda and other fruits.
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