Financial Literacy Training for 100 Child Mothers and Young Women at Risk in Lutissi, Kyasa, Nakedde, and Kitayita Parishes
Summary:
Following a successful economic needs assessment conducted in Lutissi, Kyasa, Nakedde, and Kitayita parishes of Namayumba Sub County, Wakiso district, beneficiaries expressed interest in income-generating skills such as bar soap making, book making, tailoring, and bakery. In Lutissi, soap making and bookmaking were selected as preferred income-generating activities. The beneficiaries were divided into two groups accordingly: 13 in bar soap making and 12 in book making.
This financial literacy training aimed to equip them with essential financial knowledge and entrepreneurial skills, enabling them to access savings and credit facilities for self-reliance and income generation. The training took place on Tuesday, August 15, 2023, at Lutissi Pentecostal Church in Lutissi parish, Namayumba sub-county, Wakiso district, targeting 25 child mothers and young women at risk.
Achievements/Results:
- 100% turnout of targeted beneficiaries (25 out of 25) for the financial literacy training, facilitated by effective mobilization strategies.
- All beneficiaries shifted to safer and more consolidated saving methods, transitioning from informal methods to SACCOs and other financial institutions.
- 92% of participants embraced prioritizing savings before expenditure, marking a significant shift in financial behavior.
- Strong emphasis on starting small and utilizing available resources for income generation was well-received.
- 84% of participants were child mothers and young women at risk, indicating a high yield of direct beneficiaries.
Recommendations & Lessons :
- Learner-centered approaches enhance the effectiveness and engagement of financial literacy training.
- Consistent engagement with beneficiaries through various activities leads to more efficient mobilization.
- Optimal venues with conducive learning environments should be prioritized, regardless of associated costs.
- Retaining initial project members leads to continuity, application, and impact of acquired knowledge.
- Effective communication from beneficiaries intending to leave their groups aids in seamless replacement.
