Economic Support
Most of the families on the project are engaged in some form of income-generating activity. However due to their very low levels of formal education and lack of access to capital all are generally engaged in petty trade (hawking vegetables and fruits), or earn by doing menial jobs such as sweeping roads and washing clothes for other people.
In order to enhance their earning capacity and thereby move up into more profitable and sustainable business, Kanyogoga Project has been training the household heads in various business practices. These include:
- a) Financial Management Training
Finance Trust Bank is a fully registered bank regulated by the central Bank of Uganda. It is a bank that grew out of a women’s saving and credit co-operative. As such it is a bank that understands the unique needs of small and micro business; and is sensitive to the social dynamics of this group of people.
Touch lives Ministry has partnered with Finance Trust Bank to provide it’s beneficiaries with:
- i) Financial management skills. These training sessions take place two to three times a year and include: how to open a bank account, how to save, how to access and manage loans, and basic book keeping for small businesses among others.
- ii) Young Savers. Finance Trust Bank also teaches both parents and their children on how to start saving early; and encourages the parents to purchase “piggy banks” available from the bank where children can deposit their savings.
- b) Touch Lives Ministries has also encouraged the project beneficiaries to form a savings and credit co-operative (SACCO). This they have done and have an account with Finance Trust Bank where their group savings are deposited.
