OMOLATAR – Amolatar district Woman Member of Parliament, Dr Agnes Apea has donated Shs 135 million to 480 Village Savings and Loans Associations [VSLAs] in the district.
While handing over a cheque last week in Abarikori village, Aggikadak Sub-county, MP Apea said the money would boost saving and lending in the beneficiary VSLAs.
She also handed over 480 saving boxes, member passbooks and Shs 100,000 for each group.
The district has 581 villages while residents from 558 villages have been trained in financial literacy, and offered business development services, according to Apea.
The technical assistance like training, provision of saving boxes and member passbooks was done by the Microfinance Support Centre, according to the zonal manager in charge of Lango and sub-regions, Mable Nabadda.
She pledged to offer both technical and financial support to a total of 900 groups in the district so that they are able to efficiently utilise the money disbursed to them by the government to fight poverty.
The MP advised people to embrace the culture of hard work, investment and saving, adding that some of the people in Northern Uganda are not patient and don’t invest in projects that take long to bear fruit.
“It is both mindset and cultural issues and as a leader I want to lead the journey to economic transformation and mindset change,” she said.
Meanwhile, Nabadda urged the community to adapt the culture of saving before spending or invest in whatever little they have.
Stella Ejang, a resident of Awonangiro village in Agikdak Sub County, said they formed a saving group a few years ago but have been struggling with the little contributions from the group members.
Ejang, a member of Gwok Paconi women`s group said there is high demand for finances to address household challenges and the little lending in the group cannot meet the overwhelming needs.
“We are so happy because like me, I am not educated and the only option is to explore business opportunities by acquiring small credits and be able to compete with others,” she said.
Ejang added that with the boost of Shs 135mln, their loans portfolio will increase and she will be among the first people to borrow a reasonable amount to finish the construction of her house.
Stella Ejalo, a member of Mon Onote Group, at Ongoceng village in Agikdak, said since they started nine years ago, this was the first time they are receiving money from an external source.
She said the new financial offer from MP Apea will boost members’ businesses.
Evelin Odongo, the chairperson of Par Pii Anyim Group at Oribcing village, said she will now be able to borrow more money to boost her tomato and silverfish business.
https://thecooperator.news/amolatar-receives-shs-4bln-pdm-funds/
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