Financial Literacy Training in Namayumba Sub-County
Summary:
Following a successful economic needs assessment carried out in Lutissi, Kyasa, Nakedde, and Kitayita parishes of Namayumba Sub County, Wakiso district, income-generating skills such as bar soap making, book making, tailoring, and bakery were identified as preferred by the beneficiaries. In Kyasa, fashion & tailoring and soap making were selected. The beneficiaries were divided into these two groups, with 12 in fashion & tailoring and 13 in soap making.
This led us to provide them with a comprehensive financial literacy training to equip them with essential financial knowledge and local market insights. An expert loans officer from the SACCO was invited to share valuable information. The training took place on Wednesday, 16th August 2023, at a residence in Kalungu village, Kyasa parish, Namayumba sub-county, Wakiso district, targeting 25 child mothers and young women at risk from the mentioned localities.
Objectives:
- Mobilize at least 20 child mothers and young women at risk for financial training in Bembe parish by the end of 29th August 2023.
- Saving Groups Formed:
- * Kyasa Twezimbe Group (Fashion & Design): 15 members.
- * Kyasa Bawanguzi Group (Soap Making): 12 members.
- All beneficiaries shifted to saving with formal financial institutions.
- 25 out of 29 beneficiaries adopted a savings-first approach.
- Both saving groups successfully registered.
- Beneficiaries sensitized on potential markets for their products.
- Beneficiaries demonstrated understanding of financial literacy concepts.
- Learner-centered approaches enhance effectiveness of financial literacy trainings.
- Continuous engagement with beneficiaries improves mobilization.
- Venue setting significantly impacts learning.
- Higher retention rates lead to more impactful knowledge application.
- Communication regarding potential replacements for departing members is crucial.
Project statistics:
* Child Mothers and Young Women at Risk: 100%
*Saving Groups Formed: 2
* Bembe Tailoring Group: 12 members
* Bembe Soap Makers Group: 10 members
* Savings Groups Registered: 100%
* Beneficiaries Actively Involved in Group Saving Scheme: 7