During the February 2009 Women Empowerment Meeting, the women requested URF to provide training on saving and borrowing. Curently over 135 women are involved in the village banking program.
URF under the women project organized a training session for the women which was done by Micro Enterprise Development Network (MedNet) which is affiliated with World Vision. 50 women attended this training session. They were taught how to get loans, and also they also learned about collateral since this has been their biggest fear that some of them do not own land or any property that is of much worth so they would not have collateral to give. They were told that collateral is not a big issue but it is collective responsibility and the commitment that matters and that for someone to be given a loan, they would have to state why they need the loan and to determine if they are able to repay back the loan in the agreed time.
On the 4th of April, another training session was organized for the women by URF but this was conducted by another organization called the Swedish Development Center in collaboration with the government of Uganda. They came up with a rural banking, loaning and saving method that is largely grass root based initiative. This is called Co-save. 55 women attended.
In Co-save, the women are able to save and to get small loans with little interest. A Co-save consists of 15-35 members. Three funds are set up: The Emergency Fund ( each member agreed that they would contribute 500 for this fund), The Shares Fund ( Each member is required to buy shares and each share costs 2000, these shares are your savings), the Fine and Regulations Fund ( This fund is in line with the rules of Co-save that were agreed on by all members for example if someone comes late they are to pay 200, if you are caught talking during the Co-save session you are to pay 1000, and if you are caught gossiping , you are to pay 5000, for the first time, the second time you are chased from the group).
The members meet twice to give Loans to those who need them, and to receive money from those who are paying back the loan money. If someone fails to pay back the loan, then it is called LOAN ROLLOVER; you are given the same loan back and your interest rate doubles).
All members are required to get a loan at a certain time so that your shares do not build up so much! So even if you do not want a loan you are forced to get one! But no one does not want a loan; the list is always long for those who need a loan and is issued, you are given a due date to return it and two members are responsible for you bringing back the loan.
Every after two months members meet and they are given some of the money from the savings, but if you do not want the money you can choose not to take it.
There is leadership that is accountable and members make their own constitution governing their Co-save. They also reserve the right to terminate someone from a leadership position if they think she is not working well.
The women preferred this (Co-save) to the first training (MedNet) and they agreed that they would start their own Co-save into the project and that it was not compulsory for everyone but those who are interested.
135 women are involved in the program.
Hey, looks great
Hi John Mary, thanx for the effort,time, energy and any other form of sacrifice invested into designing this site. Its beautiful and gives a wider perspective of URF activities. So many people especially children are under priviledge and dont have a voice out there. But with URF in place am optimistic there is a brighter future ahead of our children. With the seminars being arranged, children will gain the confidence to always express their views before their peers and bigger crowds. Thanx once again, for the great work.
humanitarianism is the way forward!
Hi!
I am graduating from a University in the U.S. this June and have been in contact with John Mary about teaching for a year at Hope Academy. It is my dream to do so and John Mary has been so awesome at helping to make that dream more of a reality. Now, as I am getting closer to making my final decision, my family (as well as myself a bit) is worried about the safety and stability of Uganda. I was wondering if anyone can reassure me with the safety of a young female from the U.S. coming to Hope Academy? Particularly Molly, if you are reading the posts if you could respond to tell me a bit about your experience? (I’m also up for emailing if you feel comfortable). Thanks
Hey Megan,
The stability of Uganda right now is fine. I would follow the international news up to the date of your departure if you are nervous. Other than that, things to watch out for are sicknesses. I did get sick from drinking bad water in Uganda. However, I was taken to the hospital and was fine. Malaria as well- be sure to wear bug spray daily and use your net at night. The country being stable, safety in Jja jja’s home at Hope Academy is not an issue. They have a rather extraneous night guard but at no point during my stay was our safety ever threatened by outsiders. The Ugandans themselves are unfailingly honest. I had many many more issues with things being stolen and personal safety in South Africa, in the much more developed area of Cape Town. Unless something goes seriously awry before you leave, and you watch what you drink/watch our for mosquitos (there is only so much you can do- as JM once said, the rest is up to God) you should be fine. I am really excited for you. This is an opportunity not to be missed. Uganda and HIA will change you forever in the best possible ways. Please contact me at molly.dierks@gmail.com if you have any more questions or concerns, and I will happily respond!
YES I WILL BE ATTENDING . WALIGO THANK YOU VERY MUCH FOR INFORMING ME .
its a great honor that you have organised sme special event like this i really appreciate it.
I look up to all of you.
I am inspired by you to work
harder. All I want to do is help
out you all and do the right thing.
My dream is to come where all of you are
and meet you, whoever is willing to meet me.
WhEN i see things on tv of how it is over there
I want to cry because you all deserve better.
A poem for you, who ever reads this:
keep draming life is still waiting.
you can be all that you want, never give
up always go for what you want because in
the end you will never know if what you want
will be stiil waiting.
By: brianna
from america
Yeah it quite awesome i look forward to be part of the conference.