Help Rural Women and Youth Groups Access Finance Resources, Training and Fight household Poverty
Date Published: 9/11/2024
My name is Zachery Onyango Founder and CEO of Development Alert-https://da.or.ug the 2024 Award Winners of Acquisition International’s Nonprofits Award https://www.acquisition-international.com/winners/development-alert/ of Most Dedicated Local Community-Based Support Organization 2024- Uganda.
Our wish as an organization is to raise USD 20,000 to support on impoving on the living conditions of women, youth and communities in the rural areas. The condition of women in Uganda in rural areas is dire because they are the most illiterate, living in isolated rural setting, most involved in ungainful employment, they are the ones bearing the brunt of bringing up children and ensuring they go to school, they Head families and are the poorest. Poverty remains firmly entrenchedd in rural areas home to 87 percent of Ugandans majority of whom are women (UBOS 2024). Paya Sub County (Found in West Budama North Constituency) being one of such rural Sub counties in Tororo District makes the population even more isolated and as such they live in extreme poverty.
The poverty has hit the women and youth even harder since they are mostly involved in tilting land for supply of food for the family and other basic needs with majority being some of the most disadvantaged in the community such as widows, unskilled, and semi-skilled young women and Youth. Much as the women and youth are extremely hard working, they do it without the necessary knowledge and skills, capital and relevant in puts to engage in modern and gainful activities. As a result, they have kept in a cycle of poverty and state of hopelessness. If the women and youth and other vulnerable members of the community are to change their livelihoods, they need support both financially, technically and in material terms so as to boost their income levels and improve on their livelihoods for strengthened management capabilities and sustainable development.
Our wish at Development Alert-https://da.or.ug and under our theme of economic empowerment, we aim to provide rural and poor women, youth and men with access to financial resources, business identification and finance literacy trainings and, to establish an interest-free loan program based on PAY –IT- FORWARD model. The beneficiary will be able to use the loan for 12 to 24 Months and pay back and be given to another member.
This is a much easier and better option than the formal and mainstream loans provided by financial institutions which in most cases provided at extremely high interest rates, high collateral requirements and bureaucratic paper work which most rural poor communities CAN’T afford.
This project will help the rural poor communities to alleviate poverty, promote financial inclusion, and foster economic growth in marginalized areas by;
1. Providing access to interest-free loans for rural poor individuals and families
2. Support income-generating activities and small-scale entrepreneurship
3. Enhance financial literacy and management skills
4. Foster community development and social cohesion
Target Beneficiaries:
- Rural poor individuals and families
- Small-scale farmers and artisans
- Women and youth entrepreneurs
Loan Program Details:
- Loan amount: [$500 - $5,000]
- Repayment term: [6 - 24 months]
- Interest rate: 0% (interest-free)
- Collateral: None or minimal (depending on the loan amount)
Implementation Plan:
1. Community outreach and engagement
2. Registration, Loan application and selection
3. Financial literacy training and support
4. Loan disbursement and monitoring
5. Repayment and collection
Expected Outcomes:
1. Improved access to finance for rural poor communities
2. Increased income and economic stability
3. Enhanced financial literacy and management skills
4. Empowered women and youth entrepreneurs
5. Strengthened community cohesion and social capital
OUR WISH
Please kindly help us raise USD 20,000 to support the program's initial phase, which will cover:
1. Loan capital
2. Program administration and operations
3. Financial literacy training and support
4. Monitoring and evaluation
Our wish as an organization is to raise USD 20,000 to support on impoving on the living conditions of women, youth and communities in the rural areas. The condition of women in Uganda in rural areas is dire because they are the most illiterate, living in isolated rural setting, most involved in ungainful employment, they are the ones bearing the brunt of bringing up children and ensuring they go to school, they Head families and are the poorest. Poverty remains firmly entrenchedd in rural areas home to 87 percent of Ugandans majority of whom are women (UBOS 2024). Paya Sub County (Found in West Budama North Constituency) being one of such rural Sub counties in Tororo District makes the population even more isolated and as such they live in extreme poverty.
The poverty has hit the women and youth even harder since they are mostly involved in tilting land for supply of food for the family and other basic needs with majority being some of the most disadvantaged in the community such as widows, unskilled, and semi-skilled young women and Youth. Much as the women and youth are extremely hard working, they do it without the necessary knowledge and skills, capital and relevant in puts to engage in modern and gainful activities. As a result, they have kept in a cycle of poverty and state of hopelessness. If the women and youth and other vulnerable members of the community are to change their livelihoods, they need support both financially, technically and in material terms so as to boost their income levels and improve on their livelihoods for strengthened management capabilities and sustainable development.
Our wish at Development Alert-https://da.or.ug and under our theme of economic empowerment, we aim to provide rural and poor women, youth and men with access to financial resources, business identification and finance literacy trainings and, to establish an interest-free loan program based on PAY –IT- FORWARD model. The beneficiary will be able to use the loan for 12 to 24 Months and pay back and be given to another member.
This is a much easier and better option than the formal and mainstream loans provided by financial institutions which in most cases provided at extremely high interest rates, high collateral requirements and bureaucratic paper work which most rural poor communities CAN’T afford.
This project will help the rural poor communities to alleviate poverty, promote financial inclusion, and foster economic growth in marginalized areas by;
1. Providing access to interest-free loans for rural poor individuals and families
2. Support income-generating activities and small-scale entrepreneurship
3. Enhance financial literacy and management skills
4. Foster community development and social cohesion
Target Beneficiaries:
- Rural poor individuals and families
- Small-scale farmers and artisans
- Women and youth entrepreneurs
Loan Program Details:
- Loan amount: [$500 - $5,000]
- Repayment term: [6 - 24 months]
- Interest rate: 0% (interest-free)
- Collateral: None or minimal (depending on the loan amount)
Implementation Plan:
1. Community outreach and engagement
2. Registration, Loan application and selection
3. Financial literacy training and support
4. Loan disbursement and monitoring
5. Repayment and collection
Expected Outcomes:
1. Improved access to finance for rural poor communities
2. Increased income and economic stability
3. Enhanced financial literacy and management skills
4. Empowered women and youth entrepreneurs
5. Strengthened community cohesion and social capital
OUR WISH
Please kindly help us raise USD 20,000 to support the program's initial phase, which will cover:
1. Loan capital
2. Program administration and operations
3. Financial literacy training and support
4. Monitoring and evaluation
