We thank the almighty God for keeping us safe,
2021 is kind a fair start for us and since our last report , We observed that majority who where hit hard by COVID_19 and still ran their small scale bussiness lacked financial skills on how to save, borrow and invest and so we have been able to Amanya Amon a financial consultant working with equity bank in Mbarara branch to train and make awareness and ability for our beneficiaries to understand and effectively use various financial skills, including personal financial management, budgeting, and investing.
We gathered a total of 10 i.e. Two transgender women, 1 lesbian, 4 gay men, 2 transmen and 1 bisexual man at palm world hotel for a one full day interaction meeting about “know your finances” our coordinator in Rukungiri selected participants who are running small scale business and doing badly financially.
During the meeting, participants followed and observed the Ministry of health guide lines inline to prevent COVID_19 from spreading. At the end of the meeting, participants had known their weakness in saving and promised to work upon them, Among the weakness we documented is that when they sell their cake products, they end up using their profits for other things making it hard to refund the used money,
Our financial consultant advised participants to always invest their profits in buying quick to sell things, he further gave am example of buying a young a goat and selling it highly at a later stage. He cautioned how difficult it is for low income earners to save and manage their profits if not investing it wisely. MRF monitoring team will be visiting their business to track if there is any progress.
We thank you for your support