Help bring Financial Stability to Uganda

In Uganda, families are saving for the first time because of you

Under leadership of new CEO André Lalumière, Opportunity Uganda increased the number of clients with savings accounts by a remarkable 70% since 2011 year-end. With mounting evidence and recognition that the poorest families want to save, this growth is an indicator that our training and awareness efforts are having a positive impact on the people at the very bottom of the poverty pyramid. Ninety-nine loan officers identify and serve the poorest economically active Ugandans from 15 branches, offering savings and loans for business, education and agriculture – all linked to the protection of credit-life insurance.

Recognizing the information and access gaps our clients face, Opportunity forges partnerships with other agencies to ensure their holistic transformation. In Uganda, we provide loans to families who have proven their ability to take on additional credit so they can take advantage of life-changing opportunities through partner agencies offering the benefits of solar panels and home improvements that make families safer.

You are building a savings culture that transforms families

Although Opportunity Uganda has restricted lending to avoid over-indebting clients during the country’s macro-economic challenges, it achieved strong growth in its outreach to families with savings accounts. Much of this growth was achieved by increasing community awareness through savings drives. Opportunity Uganda:

• Boosts awareness by conducting savings drives every other Friday at alternating branches and via radio campaigns.
• Mans each drive with 60 staff members who reach out to more than 500 community members, providing information about the benefits of saving as a tool for expanding business, funding education costs and preparing for emergencies.

Opportunity Uganda is increasing outreach through the following:

• Adding additional branches in Soroti, Nansana and Mukono by year-end.
• Increasing its mobile van fleet to three vans to reach more rural and remote families.
• Funding 18 solar panel loans and 180 loans for housing repairs.

Thanks for all your support that makes this possible! 

The July 2011 grand opening ceremony marked Opportunity Uganda’s official entry into the Mubende community.  The hearty customer turnout was no surprise to the branch staff, who had worked hard to generate awareness within the community prior to the launch.  With your investment, Opportunity has quickly become a recognized and integral part of the Mubende community.  In its first few months of operations the branch has provided more than 2,000 families with access to savings.

The branch is now fully operational and the staff is energized by the change they are witnessing throughout Mubende. Trust Groups have formed and are conducting weekly meetings with loan officers delivering business start-up and business expansion training.  Agriculture specialists are visiting farmers and farmer groups to survey plots and layout plans to help them increase and improve quality of yield, resulting in efficiencies and higher dividends at harvest time. Grass roots business owners are learning to bring their businesses to sustainability and even profitability. Families are opening their first ever savings accounts. Faith and Frank, like many other business owners, are now on their second loans.  Inspired by your generosity, they have shared the benefits of success to others in their community.  Their business has grown to be profitable and sustainable, and with that, they have taken on neighbors as employees, giving them the chance to be a part of their success.  Women like Faith are gaining confidence in their business skills and in themselves as they are being recognized as successful business women amongst their peers. 

Meet Faith and Frank Rubanda 

Although they possessed the skills and work ethic to make their dream of becoming tailors a reality, Faith and Frank lacked the necessary capital.  As co-owners of a small dairy business, the couple managed their profits resourcefully but with seven young children savings was near impossible.  This put their dreams out of reach.

With a loan, training and significant support, Faith and Frank became the town’s only custom designer of hand-crafted business suits.  Their success gave them the confidence and capital to expand, growing from owning just one sewing machine to now employing seven members of their community.  They have now begun negotiations to acquire additional storefronts.  “We are thankful for what we have been able to do,” says Frank.  “Opportunity bank came to Mubende by way of a miracle.  We were pleased to be the first to open a savings account.”

As mother, wife and business partner, Faith, too, is enjoying a whole new feeling of optimism. “I never thought my children would go to school because of the cost of uniforms and now that they are in school I am finding a way to send them to a better private school.”  Frank is undeniably proud of his wife, and enjoys having her as his business partner.  His infectious smile is filled with love and respect for her.

Links:

• http://www.opportunity.org