Hope Women Association members in a group Photo during 2023 end of year party in Alaaru Hotel
By Joseph Jurua
Arua
Members of Hope Women’s Association and Village Savings group saved shs117m in 2023, a feat they attribute to financial literacy.
In 2022, the group saved shs147m, something they say has been key in getting them out of poverty.
The group started in 2009 with only 30 members and now has to 40 members who each save a minimum of shs 200,000 and a maximum of shs1m per month.
The savings are to increase their capital alongside social savings and interest accrued on loans.
During their annual general meeting in Awindiri Ward in Arua Central Division, Jessica Driciru, treasurer of the group said the members borrow loans and pay with a 10% interest, which helps the savings to grow.
“Each member walked away with cash ranging from Shs2.5m to more than Shs5m,’’ Driciru said.
Driciru said experts have also been brought in to train women in financial literacy, which has enabled them to closely monitor their enterprises.
“We identified that there was a challenge of financial management and we had to deal with it first that is why the women become inquisitive while doing their business,’’ she added.
Building individual capacity
Pamela Masudio, a group member, has been able to further her education and build a house through borrowings from the group.
“Because I love savings to better myself for the future, I joined the group. This has also made me build a house for the family in support of my husband,” Masudio said.
Jessica Draru, the group chairperson, said 50% of the group members, including herself, have been able to further their studies with money borrowed from the group.
“It has also helped in paying school fees for children at the university level and building houses among the members,’’ Draru disclosed.
Draru said annually, each member gets a target and plan which are followed by other members to ensure they are completed.
She called upon the government to support and consider supporting such village saving groups that are geared toward improved household income.
Philliam Abiriga, the project manager and one of only three men in the group, commended the women for their good commitment to savings.
Abiriga said he was immediately convinced to join the group the first time he went to attend their Annual General Meeting.
Planning for a SACCO/Bank
The group has proposed projects of selling shares to increase their capital and start a business that can enhance their savings.
Plans are underway to upgrade from a VSLA to a SACCO and a bank in the future.
Jackson Lee Atima Buti the Arua central division Member of Parliament pledged to support the group with more skills due to their enterprising ventures.
“There is no doubt, this women’s group will benefit from Lee foundation funding that I initiated to support the youth and women,’’ Buti revealed.
In 2023, Buti invited the Deputy Speaker of Parliament, Thomas Tayebwa, to launch a skilling center for the youths and women groups in different entrepreneurial skills.
“Having enterprising groups is what I made emphasis on and such women who have picked well, progressing economically is a good initiative,” Buti said.
Buti also promised to link the women to the Micro Finance Support Center, Office of the National Chairman (ONC), and other potential government agencies for more support.
“I will take the matter up and give the necessary support to such groups,” he said.
The legislator advised other groups to emulate the Hope Women Association to change their lives and grow economically.
