The Ngora District Woman MP Stella Apolot Isodo has donated Uganda Shilling 27 Million to savings groups both in Mukura town Council and Mukura Sub County in Ngora district.
The Mukura Town Council Mayor Opolot David Okello while addressing the beneficiaries in Mukura town council headquarters urged the beneficiaries not to use the support for marrying new women but rather asked them to use it to benefit their homesteads.
While hailing MP Isodo for her initiative of forming saving groups Okello said, access to village savings and loans associations (VSLAs) has accelerated businesses in some households, mostly women, in Mukura trading centre.
He noted that the groups have boosted time for businesses and also increased total household income and food security.
“What we are seeing is that the people can save for themselves; this has positively changed their livelihoods. We see savings and business income increase, but importantly there is also a boost in women’s empowerment,” Okello added.
VSLAs are a popular tool to encourage financial inclusion and empowerment, often in the poorest and more rural communities.
Beneficiaries including Akello Angella Mary of Kumel Kees, Mary Apio Oba Kumel Namasagali and Amuge Deborah of Okunguro among others revealed that savings groups have restored love to their families.
“We are confident that the promising short-term outcomes reflected here are indicative of significant potential for long-term impacts on resilience, household income and food security,” they said.
But while addressing the beneficiaries in Mukura town council offices Mrs. Isodo said that the support is aimed at uplifting the people of Mukura from poverty.
She noted that with the failure of the government aided PDM, these funds will help boost the saving culture within the Mukura people.
She called on the locals to embrace savings groups saying members who are already in the groups are using the funds for agricultural investments, food, and education costs.
She added that VSLAs will help in achieving financial inclusion by helping people access tailored services and products that match their level of economic development.
The MP also awarded the best performing groups with goats.