Uganda women's economic empowerment loan fund

by CPAR Uganda Ltd
Uganda women's economic empowerment loan fund
Uganda women's economic empowerment loan fund
Uganda women's economic empowerment loan fund
Uganda women's economic empowerment loan fund
Uganda women's economic empowerment loan fund
Uganda women's economic empowerment loan fund
Uganda women's economic empowerment loan fund
Uganda women's economic empowerment loan fund
Uganda women's economic empowerment loan fund
Uganda women's economic empowerment loan fund
Uganda women's economic empowerment loan fund
Uganda women's economic empowerment loan fund
Uganda women's economic empowerment loan fund
Uganda women's economic empowerment loan fund
Uganda women's economic empowerment loan fund
Uganda women's economic empowerment loan fund
Uganda women's economic empowerment loan fund
Uganda women's economic empowerment loan fund
Uganda women's economic empowerment loan fund
Uganda women's economic empowerment loan fund
Uganda women's economic empowerment loan fund
Uganda women's economic empowerment loan fund
Uganda women's economic empowerment loan fund
Uganda women's economic empowerment loan fund
Uganda women's economic empowerment loan fund
Uganda women's economic empowerment loan fund
Uganda women's economic empowerment loan fund
Uganda women's economic empowerment loan fund
Uganda women's economic empowerment loan fund
Uganda women's economic empowerment loan fund
Uganda women's economic empowerment loan fund
Uganda women's economic empowerment loan fund
Uganda women's economic empowerment loan fund
Uganda women's economic empowerment loan fund
Uganda women's economic empowerment loan fund
Uganda women's economic empowerment loan fund
Uganda women's economic empowerment loan fund
Uganda women's economic empowerment loan fund
Uganda women's economic empowerment loan fund
Uganda women's economic empowerment loan fund
Uganda women's economic empowerment loan fund
Uganda women's economic empowerment loan fund
Uganda women's economic empowerment loan fund
Uganda women's economic empowerment loan fund
Uganda women's economic empowerment loan fund
Uganda women's economic empowerment loan fund
Uganda women's economic empowerment loan fund
Uganda women's economic empowerment loan fund
Uganda women's economic empowerment loan fund
Uganda women's economic empowerment loan fund

Project Report | Dec 11, 2024
Financial literacy is key the for access to profitable business finance

By Norah Owaraga | Project Leader and Managing Director

Stylish Gen-Z Street Fruit Hawker
Stylish Gen-Z Street Fruit Hawker

Wait a minute, this is not your typical image of a Ugandan or African woman fruit street vendor or hawker. She, with beautiful and well styled natural African hair, dressed in jeans, trousers, walking elegantly on the main street of the capital city, Kampala, balancing on her head, hands free, a tray of fresh fruits, including jackfruits, packaged in Styrofoam and cling foil. She is not a model. She is a young enterprising woman in business. She looks of Generation Z (Gen-Z).  

Her clients, seemingly, mostly travellers, specifically those who use the “Express Taxis” that transport passengers from Kampala to Entebbe via the Entebbe Expressway. I am one of them and that is how I happen to be walking behind her. We are headed in the same direction and destination. I, to board a taxi to Entebbe and she, to sell her fruits - each pack usually of mixed fruits consisting of jack fruits, melon, sugarcane and a slice of orange.

It got me thinking, she is most likely not among the beneficiaries of the latest popular Government project targeted towards accessing finance to women, “Generating Growth Opportunities and Productivity for Women Enterprises (GROW).” This World Bank financed project is so popular and according to our bankers, DFCU Bank, the funds for it were quickly utilised and all lent out. It demonstrates there is significant need among women entrepreneurs for ‘friendly credit’ facilities.

In an up-date given in October 2024, the Minister of Gender reported that the majority, 83 percent, of GROW borrowers, so far, took loans in the lowest category of 4-20 million shillings. Those women were able to access GROW loans, when they demonstrated that they are 100 percent owners of their businesses and that the loans are for the purpose of growing their businesses. It follows, therefore, that they had impeccable books of accounts and other legal documentation to demonstrate the historical performance of their businesses.

Young entrepreneurs, such as the stylish Gen-Z fruit hawkers, I suspect, often do not keep good financial records. I mean, I hardly ever see the fruit hawkers from whom I buy from at the Express Taxis stand receipt and or record their sales at the time of sale. Perhaps, they have a system to do so later, but I have my doubts. Without good financial records, entrepreneurs are unable to access business finance to grow their businesses; and to demonstrate the historical performance of their businesses.

Having good data that shows the historical performance of one’s business is not only good for accessing credit. It is crucial for fact-based informed decision making for the business owner. Hopefully, resulting in decisions that enable the business to grow organically and sustainably. This is the reason why we, at CPAR Uganda, designed a project to access and provide women entrepreneurs with practical financial literacy.

Financial literacy is important for one to appreciate when to borrow, why to borrow, how to utilize the loan in a beneficial and profitable manner and to be able to pay it back with costs. We cannot implement it on our own. We ask for your support, financial donations towards training of community agents of change to provide accessible and practical financial literacy training to young women entrepreneurs, such as the Gen-Z fruit hawker, the inspiration of this post.

Imagine the possibility that financial literacy can contribute towards inspiring the Gen-Z fruit hawker to devise and afford alternative ways of transporting and packaging her fruits for sale. Ways that improve the safety of the fruit for human consumption; and as well, which reduce likely environmental pollution from non-biodegradable Styrofoam. Positive impact double, double.

Thank you to our supporters who have already made donations that are positively impacting the lives of our first project beneficiaries.

Stylish Gen-Z Street Fruit Hawker
Stylish Gen-Z Street Fruit Hawker
Stylish Gen-Z Street Fruit Hawker
Stylish Gen-Z Street Fruit Hawker

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By Norah Owaraga | Project Leader and Managing Director

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Organization Information

CPAR Uganda Ltd

Location: Entebbe - Uganda
Website:
Facebook: Facebook Page
Twitter: @CPARUGANDA
Project Leader:
Norah Owaraga
Entebbe , Uganda
$198 raised of $5,000 goal
 
7 donations
$4,802 to go
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