5th April 2024

The majority of young entrepreneurs in Uganda struggle to meet their immediate financial needs due to limited access to easy, quick financing at reasonable interest rates. Self-help groups, popularly known as Village Savings and Lending Associations (VSLAs), empower participants to increase their access to and control over resources, harnessing their collective power to overcome these challenges.

For the members of these groups, the micro-loans provided by the collective prove invaluable. Not only do they help break the cycle of poverty, but they also build thriving livelihoods, transforming the hope of a more sustainable, self-sufficient life into a tangible reality.

This is particularly true for Nakidde Edith, a young entrepreneur from Kazo-Angola in Kawempe Division, located in Uganda’s capital Kampala. Edith belongs to the “Elites Savings Group,” composed of ambitious young entrepreneurs dedicated to growing their businesses.

“I had never thought as a youth, that there’s’ need for me to be innovative by diversifying my incomes if at all I must survive in our Uganda. To that as a result of the AFFCAD training in Entrepreneurship and training in the VSLA methodology, I thought it wise and had to implement what I had been trained. “The training was very good because it has enabled me to improve my business through book keeping. However, the most important part of this training was the aspect of business identification where the lead coaches encouraged us to start up a business NOW! And am happy to say I now own my second business which I started from my savings from my saloon business. I started the second business with only UGX 345,000/= (Three hundred and forty-five thousand shillings only). I now make profits of  UGX42,000 (Forty two thousand shillings a week, and as a result, am able to pay school fees for my child in time, I cannot stop thanking AFFCAD and the Share Trust. by the way at first I thought AFFCAD is just wasting our time, but now I am a member of Elites Kazo Agola self help group.  Kumbe Kyaddala ” – Nakidde Edith, youth from Kazo-Angola Central