Empower 40 youth in Uganda with saving skills

A microproject by Mountains of hope childrens ministries
Vetted

Summary

This project will support the communities in self-help micro financing initiative using Village Savings and Loans Association (VSLA) concept to mobilize financial resources to support livelihoods diversification.The scheme will also become a platform through which innovative technologies are disseminated to the masses. Its cohesiveness and ability to influence rapidly widespread learning among members has also been acknowledged.
$980.00
total raised
3
donors
0
monthly donors
2
years active

Challenge

There is still a very large gap between the needs of the poor for financial services and the ability of banks to provide loans to the youth because they do not have security enough to enable them access bank loans.Youth will contribute start up income to the pool account, to enable them to start up their own financial service to loan them selves with out security, because this will provide the means by which the poor youth can invest their way out of poverty.

Solution

This project will equip 40 youth with knowledge for five days on how to save and alternative models that are able to provide the rural poor - and the urban very poor - with savings services as well as insurance and credit that can be delivered cost-effectively. The youth will be able to start up a small micro-finance for them selves, loan them selves and in future expand it to a larger financial service that loans village youth in their community

Long-Term Impact

This service will provide a secure place to save and the opportunity to borrow in modest amounts. It will also provide convenient access to these services, be easy to understand and transparent in its operations. It will be inexpensive to set up and, preferably, locally managed

Resources

http:/​/​www.moh-uganda.org
Website
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Organization Information

Mountains of hope childrens ministries

Location: Mpigi, Uganda - Uganda
Website: http:/​/​www.mountains-ofhope.com
Project Leader:
James Malinga
Project Director
Mpigi, Uganda

Funded Project!

Combined with other sources of funding, this project raised enough money to fund the outlined activities and is no longer accepting donations.
   

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