Uganda – Day 3
This morning we had the privilege of visiting an Action Audit. This happens at the end of a loan cycle and is when the saved money is repaid to all the members along with their interest.
This group has 30 members and is their first cycle. Their share price was 2000
Ugandan shillings and their end price was 2500 shilling. So that meant they had a 25% return on their savings. That’s considerably better than you get in a Western bank these days!! This group was made up of 29 women and one man.
We were once again treated as honoured guests. Dancing and singing on arrival and even more dancing when they were presented with their savings and share money. My sister and dad were presenting the money and they both had to dance.
It was wonderful and joyful and such an exciting morning. The women talked about how saving their money gives Them Independence and credibility and completely empowers them to have high aspirations.
The members talked about what they are going to do with their payouts and many of them intended to buy land, do house improvements or pay their children’s school fees.
We were then tested to more singing and dancing entertainment before being served a tasty and generous lunch. It was slightly bizarre when the DJ started playing a Peter Andres a ‘Mysterious Girl’ followed by a Will Young song!
This is what This is Epic do. It is obvious to see the different it can make to families living in poverty. This is why VSLA is vital to poor communities.
This afternoon we went to a group to see how VSLA is working. The group performed a hilarious play about the impact that the savings group had on their lives.
Then we went to visit two separate women who have borrowed money, both for house improvements. It was moving to hear how their lives have been changed by VSLA.
Amazing day. Exciting and moving all rolled up into one.
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