Nabukalu VSLA

Country: Uganda

City/Town: Bugiri

CarePoint: Nabukalu

People Impacted: 200 Beneficiaries

Total Cost: $7,714.58

Estimated time to complete: 1 Year

Area of Transformation

Economic Development

Project Description

The Village Savings and Loans Association (VSLA) project will increase household income levels of guardians and put them on a path to financial independence. VSLA groups are provided education and training, plus a small amount of startup capital to save and grow over time, eventually allowing them to start small business enterprises.

Historical Background

Nabukalu community faces extreme poverty. This project will provide a pathway to self-sufficiency by helping guardians kickstart savings. People will be placed in groups where they will receive training on savings, financial planning, small business management, and entrepreneurship. Ultimately this project provides dignity to the guardians while increasing their household incomes.

Return on Investment Potential

This project aims at economically empowering households to be more independent. Many people in this community have an entrepreneur spirit, but cannot engage in lucrative business activities due to lack of capital. The VSLA will give members access to much needed finances to start up or boost their businesses, ultimately growing their incomes. Profits from these investments are quick because the community has great business potential. It will take less than a year to see change in the lives of members.

Additional Impacts

The project will also impact the larger community by providing access to services in the business community. Farmers in the area will be able to sell produce at fair prices from the developing business population supported by the project.

Volunteer and Travel Opportunities

Donors have the opportunity to travel to witness the program in action.