| Dec 29, 2022
In the last quarter, we have been busy here at CFU. We have continued to mentor the youth in the income generating activities and business they decided to do. Over 90 youth have been able to go through four mentorship sessions so as to build their competence in business.
Thank you for your continuous generosity that has positively impacted and transformed the youth in Kamuli!
Wishing you the very best in 2023!!!!!!!!!!!!
By Ruth Nakalembe
SUCCESS STORY OF AGNES
Agnes is 24 years old, a resident of Bulopa. Agnes is a member of Mukisa Group and she is the secretary of the group. Agnes is a S.2 dropout, born in a family of 8(Father, mother 5female siblings with one who is deaf). She is the first born and stays with her parents in Bulopa, most of the time Agnes and her siblings stays with her mother who works at a school as a chef. With the support of her mother, joined a Village Saving and Loan Association (VSLA) group to jointly pool resources with other youth. Prior to join the VSLA, Agnes heard success stories of other youth who had benefited from the VSLA group supported by CFU. When approached and was introduced to the skilling program, Agnes did not hesitate to join because she had known the benefits of being in the VSLA. Her passion for joint saving and group support inspired her pursuit to save so as to able to start up a saloon Business. Her dream was not only to care for herself and meet her daily needs but also assist her parents in paying school fees for her siblings. Agnes is one of the youth who attended the hairdressing sessions and learnt how to plait hair, her major aim was to save and open up a saloon rather doing the plaiting at home, or being mobile hair-dresser looking for customers at their residences which was costly sometimes. From her mobile hair plaiting, she got money for savings and she could be able to at least buy one share of 1000/= meet the weekly (every Thursday) group savings. While in the VSLA group, she learnt how to make liquid soap, though she first took it reluctantly. However, her persistence to make liquid soap yielded a few coins and could save more in her group. Her savings in the group were ranging from 1-5 shares (2000/= to 10,000/=) weekly depending on earnings within the week. With her continuous buying of shares every Thursday, she was able to accumulate UGX 180,000, with an interest of 20,000/= making it UGX 200,000 by the end of groups cycle in August.
In October this year, Agnes’ dream of opening up a saloon come to pass, with the startup capital of UGX 200,000 she saved in her VSLA. She began her saloon with her savings with additions from her parents. All together she used 300,000/= to start up a saloon business in Bulopa. The saloon has capacity of serving at least 3-4 people at ago. On a daily basis she can make an average of 5,000 to 8,000/= on a good business day, 10,000/= to 20,000/= some days with few customers. However, for every coin she makes, she deducts 5000/= for rent and electricity. Agnes has much hope that her saloon business will catch up and she will be able to buy more shares in her group.
Agnes is so grateful to CFU, and her VSLA group because without attending the hairdressing sessions, joining the VSLA group and learning the concepts of VSLA, she would not have appreciated the value of savings for a business (saving with a purpose). She not only learnt how to save but also record keeping and financial management skills which are really helping her to account for every coin in her business. Agnes is now a model among her peers, she spreads message of VSLA savings to even her customers who come by in her saloon.Attachments: