MSC SUPPORT TO AN INDIGENOUS ENTREPRENEUR HELPS TO CREATE EMPLOYMENT OPPORTUNITIES
July 11, 2016
GALNICO Ltd is an SME located in Hoima Municipality Hoima District and deals in cattle rearing, maize growing, commercial transportation and market management. The enterprise realized a need to improve the working conditions of the rural population so as to create employment opportunities.
Arising from the need to offer the community decent and hygienic conditions, Galnico Ltd approached The Microfinance Support Centre (MSC) for financing to enable the realization of their dream of a decent and hygienic environment for the rural market vendors. MSC studied the market construction project. Satisfied that the project would go a long way in improving the lives of the road side vendors so that they do not lose their jobs, and be able to find good and organized space to operate their small businesses, MSC extended a loan of 200 million shillings to GALNICO ltd to construct and manage the market. This targeted the road side vendors to enable them acquire organized space to operate their small businesses.
As a result of the MSC interventions, over 500 permanent and semi-permanent stalls fully enclosed in a gate, roofed with toilets and a parking area for the trucks to offload the goods has been put in place. This has enabled over 450 roadside vendors to re-locate to the secure and hygienic newly constructed market, with more space available for up to over 600 more people that will be serving the entire Hoima Municipality with food and other domestic consumables. This will help to provide market to the farmers and employment to over 1000 women and youths in Hoima.