Comments on: Microfinance in Uganda http://www.one.org/blog/2008/03/11/microfinance-in-uganda/ Thu, 09 Feb 2012 15:05:27 +0000 hourly 1 http://wordpress.org/?v=3.0.3 By: jasmine santos http://www.one.org/blog/2008/03/11/microfinance-in-uganda/#comment-576280 jasmine santos Thu, 02 Dec 2010 20:47:02 +0000 http://www.one.org/blog/2008/03/11/microfinance-in-uganda/#comment-576280 one love one love

]]> By: Dana Lunberry http://www.one.org/blog/2008/03/11/microfinance-in-uganda/#comment-573126 Dana Lunberry Tue, 17 Aug 2010 20:04:08 +0000 http://www.one.org/blog/2008/03/11/microfinance-in-uganda/#comment-573126 Collins, the question you raised about limiting factors for small scale businesses in Uganda is a good one. Not only do small business owners face lack of collateral, high transaction costs and other general financial service fees, there is a huge lack of financial infrastructure in Uganda- especially in remote areas where banks don't find enough incentive to venture. Many entrepreneurs in Uganda must travel for hours by bus or bicycle to the nearest bank to even set up an account. This time commitment and travel cost is a huge investment for which few of these entrepreneurs can afford. One quote- "The world of finance isn’t kind (and is often nonexistent) to those living in poverty. Most poor entrepreneurs, while struggling to build a business, don’t have access to credit or financial services. Some don’t have the means necessary to get started, and for many, many more, they simply have no place to go other than a loan shark. The financial infrastructure we take for granted in the U.S. sadly doesn’t exist for the hardworking poor in developing countries." (http://www.optinnow.org/pages/faq) It's important that organizations not only help the working poor gain access to loans but are helping the communities- especially in remote areas- build the infrastructure needed to generate self-sustainability and expand outreach until everyone has access to credit and banking services. Collins, the question you raised about limiting factors for small scale businesses in Uganda is a good one. Not only do small business owners face lack of collateral, high transaction costs and other general financial service fees, there is a huge lack of financial infrastructure in Uganda- especially in remote areas where banks don’t find enough incentive to venture. Many entrepreneurs in Uganda must travel for hours by bus or bicycle to the nearest bank to even set up an account. This time commitment and travel cost is a huge investment for which few of these entrepreneurs can afford.

One quote- “The world of finance isn’t kind (and is often nonexistent) to those living in poverty. Most poor entrepreneurs, while struggling to build a business, don’t have access to credit or financial services. Some don’t have the means necessary to get started, and for many, many more, they simply have no place to go other than a loan shark. The financial infrastructure we take for granted in the U.S. sadly doesn’t exist for the hardworking poor in developing countries.” (http://www.optinnow.org/pages/faq)

It’s important that organizations not only help the working poor gain access to loans but are helping the communities- especially in remote areas- build the infrastructure needed to generate self-sustainability and expand outreach until everyone has access to credit and banking services.

]]> By: WERE NATHAN http://www.one.org/blog/2008/03/11/microfinance-in-uganda/#comment-546893 WERE NATHAN Fri, 20 Jun 2008 17:06:40 +0000 http://www.one.org/blog/2008/03/11/microfinance-in-uganda/#comment-546893 Dear Collins, A number of factors limit access to microfinance by small clients in Uganda. Notable among these are lack of collateral security and high transaction costs to access loans. Most MFIs require collateral to access loans which collateral is not available for small business enterprises. N Dear Collins,

A number of factors limit access to microfinance by small clients in Uganda. Notable among these are lack of collateral security and high transaction costs to access loans. Most MFIs require collateral to access loans which collateral is not available for small business enterprises.

N

]]> By: twinomugisha collins http://www.one.org/blog/2008/03/11/microfinance-in-uganda/#comment-537903 twinomugisha collins Fri, 25 Apr 2008 15:37:14 +0000 http://www.one.org/blog/2008/03/11/microfinance-in-uganda/#comment-537903 what factors limit small scale business enterprises in uganda from accessing microfinance credit? what factors limit small scale business enterprises in uganda from accessing microfinance credit?

]]> By: Debbie K http://www.one.org/blog/2008/03/11/microfinance-in-uganda/#comment-536863 Debbie K Wed, 12 Mar 2008 00:23:15 +0000 http://www.one.org/blog/2008/03/11/microfinance-in-uganda/#comment-536863 Thanks Virginia for posting all these GREAT reports from the ONE staff who are currently in the field in Uganda and (very soon) Rwanda. This trip is important to familiarize ONE staff & supporters with the obvious truth of millions of Africans' daily reality of numerous challenges while helping us to see the tremendous reservoir of courage and dignity that people in Africa possess. Whether it's street children, many of them AIDS orphans, finding a new way in life through outreach programs or whether it's microfinance programs to help women lift themselves & their families out of extreme poverty, things in Africa are slowly improving. Let's continue to COME TOGETHER AS ONE so that many more people in Africa will have a renewed chance at a safe and successful life. Take very good care of each other. Blessings are always around. ALWAYS FOREVER, ONE - debbie :) Thanks Virginia for posting all these GREAT reports from the ONE staff who are currently in the field in Uganda and (very soon) Rwanda.

This trip is important to familiarize ONE staff & supporters with the obvious truth of millions of Africans’ daily reality of numerous challenges while helping us to see the tremendous reservoir of courage and dignity that people in Africa possess.

Whether it’s street children, many of them AIDS orphans, finding a new way in life through outreach programs or whether it’s microfinance programs to help women lift themselves & their families out of extreme poverty, things in Africa are slowly improving.

Let’s continue to COME TOGETHER AS ONE so that many more people in Africa will have a renewed chance at a safe and successful life.

Take very good care of each other. Blessings are always around.

ALWAYS FOREVER, ONE – debbie :)

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