Prossy is one of the women clients we serve in Kyengera, on talking with her during one of our community visits at the beginning of this year, we realised that she had started a small business which failed because of lack of capital input.
It is after Prossy came to us seeking for micro-credit support that we where able to provide a loan which she later used to restart and grow her restaurant business.
A woman like Prossy is not able to access loans from traditional banks because she is considered not credit worthy since she may not have collateral. Without access to a loan, it’s difficult to start or grow her business meaning her family will most likely struggle to have basic needs because mothers like her are in most cases the bread winners of their families.
Putting things into perspective with data
Women are 53% of the total population.
Women face higher constraints in accessing start-up and growth funds.
In Uganda, women only access 9% of the available credit.
- 38.8 million people (76% rural, 24% urban)
- 22% of adults are excluded from access and usage of financial services
- 20% of adults use only informal financial services
JumpStart Africa is working to reach and impact these women directly through provision of accessible financial services because we understand that in developing countries like Uganda, women play a pivotal role as risk managers and drivers of development, particularly in settings of severe poverty.
Microfinance programs like the one run JumpStart Africa, have enabled thousands of women to use small sums in creative and successful ways to develop livelihoods, improve their families’ well-being, and build up savings.