Updated: Apr 10
One year ago, I Am A Girl launched a new program initiative focused on women's economic empowerment. With the support of IAG, women in the surrounding villages of Mbale started saving. Approximately 50 women came together to form five Savings Groups.
Aiming to explore new savings tools and income generating opportunities, these groups achieved many successes in their first year. They met with DFCU Bank for sessions on the basics of financial literacy. They created accountability structures with a self-appointed chairperson and treasurer in each group.
Finally these groups partnered with I Am A Girl on skills programming for women in the groups. IAG hosted a variety of skills trainings including basket weaving and agricultural projects.
April 26, 2022 will mark the one-year anniversary for our first two saving groups. Each woman will be eligible to take out a microloan, borrowed from the group's savings, to support their business venture.
The microloan application approval process will be overseen by the larger group. The applicant will submit her business plan including approach, goals and expected outcome. The Savings Group will discuss and determine the approach which best enhances the success of both the applicant and the group.
These microloans will help to grow the Savings Groups and provide a safe environment for participants to realize financial independence. I Am A Girl is a proud supporter and organizer of this program. We cannot wait to see how it grows!