MSC HAS MADE SIGNIFICANT IMPACT COMMUNITIES IN UGANDA
July 11, 2016
The Microfinance Support Centre for the last fifteen has years has supported enterprises especially in rural areas to grow. MSC has demonstrated notable achievements and there are observable positive changes among beneficiaries of its services across the country. This has been done through various mechanisms that have transformed the lives and welfare of the households. These include; easy access to affordable credit, financial literacy and training, institutional capacity building, creating networks & linkages and promoting various loan products. Cumulatively the company had provided training to 5,167 Staff and Board Members of 2,336 client institutions in Records Management, Governance Management, Financial Mgt & Accounting, Innovation & Product development, Savings & Membership mobilization.
Through the training and technical assistance provided, MSC has enhanced its client's skills and capacity to manage their businesses profitably. Some of the clients are now self sustaining. Out of the effort there has been increased access to financial services in rural areas. MSC has financed instructions in 720 sub counties to the tune of 234 billion shillings, 60% of the funding is to agriculture.
Through the support extended, the company has witnessed an increased participation of women in rural microfinance. More women are accessing financial services and investing in income generating activities.
One of the enterprises that has benefited from MSC is Tooro Dairy Farm Supply Shop located in Kabarole district. The enterprise that provides agricultural inputs to farmers received a loan of 30 million shillings from MSC in 2011 so as to extend to farmers drugs and pesticides to control diseases on their farms. Farmers access products and pay after 2 weeks. Tooro Dairy Farm Supply Shop has generated more incomes than before from the farm supply shop and from the support given to farmers in form of loans, thus enabling them get high quality milk. The MSC loan extended to Tooro Dairy Farm Supply has boosted its business and enabled it to meet the farmers' needs. The Enterprise has acquired its own building and saved money on rent.
In the current strategic plan, MSC aims to reach more communities through support to community groups such as the Village Savings and Loan Associations (VSLAs) and build capacity of client institutions.