"A ticket out of poverty is to give women small loans to run their businesses".
On 08- Feb - 2011 president Omer al-Bashir, issued a republican decree accepting the final results of referendum, which supports the separation of the South into an independent state. North and South Sudan are presently engaged in talks to resolve the sensitive issues, which includes sharing of oil revenues, demarcation of boarders, and the contested oil-rich Abyei region.
Sudan will not be the same again, and Hope Ofiriha looks forward for a new Republic of south Sudan.
Thanks to our donors’ generosity around the world, our microloan raised $3,547 enabling the project to grant loans to more women in Uganda. These loans enable them start their businesses, and is a ticket out of poverty. Our women’s group members are hard working and achieving great progress with just small investment.
Our microloan manager, Beatrice Adul, reports that only key solution to women’s empowerment and self-sufficiency is the savings and credit awareness and business training that members receive through our monthly meeting held at Kibuli-Zone Uganda. We have learned from our past mistakes – but now thing are different in our organization. Thanks to our donors, the refugee women living in Kampala from Magwi County South Sudan now have access to the microloans to start their income generation business from selling; tea on street corner, dry fish, yellow banana, charcoal, and local breweries. They have also learned how to save and to keep accurate records to ensure their personal financial and business success and that of their fellow Members.
In 2010 with your support, our Group made tremendous strides in their ability to save funds and helped motivate weaker members in the Group.The total interest savings fund in Uganda is shilling 1, 500, 000, - which was contributed by each member on loans borrowed. The interest generated are added to Group’s capital so more women can borrow to start similar initiatives.
These loans have a re- cycling affect which means when a member borrows say $100. She is given three months to repay the loan in three installments each month $34, -only. A members who pays in time will be entitled to borrow $150, $200 and so up to $250,-. Also interest is charge on the loan. Before the interest was not charge but in the last meeting members agreed the interest is to be charged. This will help to pay for stationeries, and internet service fees needed.
There are more women who want to take loans but there are no funds. Microloans are the only ticket for them to get out of poverty. These women do not qualify for bank loans,and their hopes are on our donors.
In the months a head we will have lots of report on the impact of funds this winter and this will be clearly demonstrated.
We look forward to update you on our work and to demonstrate how your contributions are making changes in the lives of poorest of the poor in Uganda.
Thanks for joining hands with Hope Ofiriha!
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