MSC boosts Lira City women`s group with cash
LIRA- Can Opwonyowa Womens` Group in Lira City has embarked on recruiting members after receiving financial support from the Microfinance Support Centre [MSC], a government agency mandated to extend affordable micro-credit to organised groups to support them boost their enterprises both individually and as a group.
According to the women’s group leadership, they received Shs 50 million from MSC to boost their produce businesses and offer credit to members.
Paul Ojuka, the secretary Can Opwonyowa, said they got the money last December and that they have started giving out credit facilities to those who qualify.
He said the women’s group has 70 registered members but their target is to bring in more members to grow the business.
“After two years we are expecting the number to grow up to 200 though we started with only 20 members,” Ojuka said.
He said to join the group you need to pay Shs 100,000 and those willing to buy shares are contributing Shs 500,000.
“10 people bought shares at Shs 5mln and we are expecting more,” Ojuka added.
Alex Ojuk, the chairperson of the group commended MSC for the boost urging more people to join the group.
MSC also supports Emyooga launched in August 2019 as part of the broad government strategy targeting to transform 68 percent of homesteads from subsistence to market-oriented production with the overall objective of promoting job creation and improving household incomes.
The Presidential Initiative on Wealth and Job creation covers majority of the hitherto, financially excluded Ugandans engaged in similar specialized enterprise categories.
As of June 30, 2021, MSC had mobilised up to 205,710 parish-based associations under 6,748 Emyooga SACCOs. The total amount disbursed stood at Shs 205.34 billion benefiting 4,114,200 direct beneficiaries.
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