The following was written by Julius Wamimbi, Fount of Mercy's Program Associate:
I'd like to introduce you to the Wanyange women's group, one of the groups Fount of Mercy is working with here in Jinja. The group has a total of 25 members who are very committed and active with their village bank business. This group started up a village bank business after the class in May this year.
The group started their business by contributing a membership fee in order to raise their initial capital. This money was combined with Fount of Mercy's matching capital. It was used to cover the saving box, pad locks, ledger book, and even printing all the required documents for the business (loan application form, members saving sheets, etc.).
The business is operating so well now and the members are so committed and active in saving their money on a weekly basis!
It has been a great honor for me working with this group in these areas, teaching them business skills and knowledge, keeping track of their records, designing work plans, guiding their weekly meetings, preparing all documents used in village bank and recording their savings using the electronic system - cash book complete.
The group members are so excited on how the business is progressing! They have strong leaders who are motivating the members to save and borrow money in order to start up small businesses to improve on their standards of living.
Fount of Mercy appreciates the strong group dynamics of these women and we hope for great success in their business and also wish them the best.
Best, Julius Wamimbi