800 Microloans for poor women in rural East Africa
Olive Wolimbwa, WMI Local Director, Buyobo, Uganda
Olive Wolimbwa is the head of the Bulambuli Widow's Association and volunteered to organize the first borrowers in the WMI program. Under her supervision, all of the borrowers made their loan payments on time and they learned how to keep business records. She is now WMI's Local Director and superivses WMI's entire credit program in the villages.
Buyobo Uganda
WMI launched its program in the Buyobo region of northeastern Uganda. This rural area is in the foothills of Mt. Elgon and has little in the way of public services. Most villagers do not have electricity, indoor plumbing or running water. There are no banking service of any kind in the area. Credit is available only from local money lenders, who charge exorbitant interest rates.
Bulambuli women meet to hear about WMI's loans
The women of the Bulambuli Widow's Association were seledcted as the first borrower's in the WMI credit program. WMI board members traveled to Uganda in Jan. 2008 to meet the women. Dressed in their best outfits, they held a day long meeting and listened intently to all of the loan program details.
Potential borrowers wait for their turn
The women in Buyobo were eager to apply for loans. They waited patiently for hours until WMI staff could meet with them to review their business ideas. Montana Stevenson, WMI's college intern, spent time reviewing all of the loan terms with borrowers while they waited.
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