Every year, the Buyobo Women’s Association comes together in early February to throw a graduation party celebrating the prior year’s loan program graduates. This year was no exception, and the ceremony was an extraordinary success!
In 2016, BWA graduated 500 women entrepreneurs from its loan program. That’s a record amount, and it represents a new influx of businesswomen into the community with improved financial literacy and money management skills.
Our two-year training program includes:
- Four loan cycles of progressively-increasing loan amounts, starting just under $100
- A strong emphasis on savings culture, with each progressive loan requiring savings minimums by the borrower
- Thorough skills training in budgeting, marketing and record-keeping along with other necessary information for running successful businesses
- Two years of entrepreneurship guidance and support from our experienced staff – all of whom are graduates of the loan program themselves and have their own active businesses
Preparations for the celebration began several days in advance! Food for over 500 guests was prepared, which required time, effort, teamwork and huge cooking pots to accomplish.
The day began with a five kilometer march to the neighboring village of Sonoli Park, an emerging business district. The march was led by a talented brass band!
Buyobo Women’s Association continues to develop its brand year after year as a highly professional and effective village-level loan program that contributes to the community not only through its microfinance operations but through reinvestments in human capacity in the area. Our growing notoriety as strong presence in Sironko District has brought support from many areas, including Ugandan government officials. This year, we were pleased to host two Members of Parliament at our function: Isma Mafabi, Youth Representative, Eastern Region and Florence Nambozo, District Woman Representative for Sironko District.
In 2016, in partnership with the Women’s Microfinance Initiative and Buyobo Community Development Association, the community is celebrating the completion of the Gibugomu Water Source project, which provides clean drinking water to Buyobo Sub-County residents.
The day progressed with musical performances by several student groups.
At the end of the event, the audience heard speeches by WMI President Robyn Nietert as well as both of the attending Members of Parliament and other local government officials. We also heard from the head office team of our banking partners, PostBank Uganda, who travelled from Kampala to attend the event.