THE PROGRESS REPORT
The 4th Progress Report on the ASCODA MICROCREDIT FUND AND VOCATIONAL TRAINING, managed by the Mbiriizi Women Empowerment group (MWEG), was recently issued. The role of Tusaidiane Uganda is that of executing party of the MCF project of the MWEG and being the supervisor during the contract period (2013-2015) on behalf of the provider of the MCF-capital, Creditino from the Netherlands. The report has taken long before it could be published. The reasons were unresolved financial recording issues. Most of them have been clarified. We advised the MWEG to include in the report the financial situation up to September 2014.
20140920 MWEG Report 1st halfyear 2014 (2) WEBSIT
The MCF of the Mbirizi Women Empowerment Group is doing well. Since its inception early 2013 more than 50 loans have been given out for the amount of more than 44 million Uganda shillings (€ 13.500). Repayment behavior of loan takers is exemplary. Defaulters are rare and not for long. There are no outstanding repayment obligations for loans, which should have been repaid completely.
The equity of the Fund, which was zero at the start developed to 2.2 million as per the end of September after using 1,3 million Uganda shillings from the built-up equity to invest in a camera, ICT-provisions and a plot of land for building a home for the MWEG for meetings, training, etc. So far, the MWEG is hosted by the Primary School.
Although there is still something to learn in view of financial management, the original objective of fundamental change in the lives of the women in Mbiriizi so far has been reached. Previous reports and the first half-year report above of the Chairperson give prove for this statement as is done by the ONE LADY report below.
It should be noted that the main challenge for the women after their vocational training in knitting and sewing is still reading and writing (adult education).
20140920 MWEG – One Lady Report June 2014