Villages Connected Blog


first micro-loans in Fort-Portal by Caroline Spira

It was back in October of last year that Villages Connected Fort Portal media co-op made it’s biggest leap yet.  In fact, the media co-op made six leaps with 6 local business people.

The media co-op started with a small micro-finance seed fund.  The co-op members, under the leadership of the micro-finance committee, worked together to identify small businesses that could benefit from a capital investment and whose owners shared the values of the co-op.  With the businesses identified, the co-op held a special ceremony gathering some 25 people where they celebrated issuing these first loans.

The ceremony was presided by Muzigiti Geoffrey Baluku, president of the Villages Connected Fort Portal media co-op, and the funds handed over to the recipients by Mugisa Herbert, Chairman LC3 South Division.

Villages Connected Media Co-op member and chair of the micro-finance committee, Kanyunyuzi Moureen , explained the LC3 chairman was asked to take this role in the ceremony to represent the local government and its support of Villages Connected and “in order to acknowledge the work we have started doing for the community of Fort-Portal.”

“The Loan recipients were very happy and highly motivated to pursue their desired dream goals. And they promise to work harder to help themselves and the community as a whole” added Moureen.  “It was a great achievement for me personally and Villages Connected Fort-Portal since it was the first time to issue loans from our seed fund.”

Microfinance Committee Chair Moureen assisting loan recipient Joy in filling out her loan agreement

The loans were issued for a restaurant, an event decorator/planner business, a liquor store/lounge, a dairy and a community garden and agricultural training organization.  The six loans totaled $2,000 CAD.  The terms and interest rates were set by the members and agreed to by the recipients who – more than 4 months in – have achieved a 100% repayment rate.

“This comes at a time when it’s increasingly becoming difficult to access credit especially during these difficult times of high inflation rates in our country Uganda.  Therefore, this is a big opportunity for us […] to invest in our [local] businesses so that as our businesses grow, [so] we will be able to showcase our potential and that of our community.” — Muzigiti Geoffrey Baluku President-VC-Fort Portal

Micro-loan recipient Moreen receiving the funds to make her dairy business grow




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