Small saving goes a long distance - Uganda
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Small saving goes a long distance
Vicky Owilli, aged 49, is a member of Konypaco women group, a beneficiary of strengthening women entrepreneurship project (SWEP) located in Aywe Village, Abim Town Council. Before SWEP, Vicky was a peasant farmer with two goats, two cows and a retail shop. Owili used to give out her farm harvest freely to relatives, friends and neighbours. She could not realize the hidden potential value of her farming as a business. Vicky used to stay in a grass thatched shelter. Her VSLA weekly saving was UGX2,000 only.
In 2014, after participating in SWEP II trainings, Owili realized her potential to become one of the richest women in Abim district within ten years. She started giving seed loan in kind of home saved groundnuts, millet and maize to her group members of Konypaco and Mothers union. Soon after harvest, her clients would repay in kind with interest at a ratio of 1:2 bags. She started the seed loan with capital of UGX4,500,000. After recovering the loan in kind of produce, she started supplying schools with maize grains and realized 58 million shillings in 2015. The proceeds empowered her to transform the retail shop into whole sale of beer, soda and other merchandise.
Her estimated business capital now is 60 million shillings, and working together with her husband, she invested in constructing a commercial house located at her home in Aywe village. She bought 20 goats, 15 cows and two acres of land. Her savings increased from UGX2000 per week to UGX60,000 per week. She had banked four million shillings with DFCU bank at the time of the interview.
She currently employs four full-time workers and 30-60 part-time workers. She educates members in the community to start income-generating projects and creates awareness through drama on HIV and Malaria. Her future plan is to construct more commercial houses, buy a vehicle to transport goods from different factories to Abim, and also engage the group to construct a store and also searching for market for the group.
“I advise other women to join groups and benefit,” says Vicky. “Enterprise Uganda has really transformed my life. My family is very happy and the community increased trust and respect for me. I have no problem paying school fees for my son at university. I will build another house and give the commercial house to my elder son.”
She bought 20 goats, 15 cows and two acres of land. Her savings increased from UGX2000 per week to UGX60,000 per week.
The Strengthening Women’s Entrepreneurs Project (SWEP II) was a 3-year project seeking to economically empower 5,000 rural and semi-rural women in Northern and Eastern Uganda (The Greater North) to become the main vehicle for expanding production, increasing household income, alleviating poverty and enhancing economic growth. - Charles Ocici (Executive Director)
SWEP II has shown that it is possible for women, even those in rural areas, to enjoy economic emancipation through adopting and practicing an entrepreneurial mind-set. The increase in household incomes, savings and investments as a result of gender-sensitive entrepreneurship and business development skills shows the capacity of women to transform their lives and those of their households if guided into the right direction. There was also a marked improvement in household relationships and appreciation of the civic responsibility of the woman in the community. This highlights the fact that an economically empowered woman is also a better mother in the home and citizen in the country. - Rosemary Mutyabule (Director, Business Development Services)
Used with permission from Enterprise Uganda. Project Report can be downloaded here