|
Kagando Rural Community Microfinance (KARUCOM) is a community based financial organization established in 2002 to effect the extension of credit to the poor, especially women.
Despite modest funding so far, KARUCOM is working with 750 clients in three subcounties served by KARUDEC. Individuals and groups are being trained
in small business and credit management, farming as a business, cost accounting, and group formation and governance. Over 120 small, short-term loans have been processed.
Funds Needed
Funds are needed to refine and expand financial services. With loans, projects managed by women, like gristmills, will be established. After
training, individual women and groups deemed credit risks because of lack of collateral will be eligible to receive loans to develope and expand profit-making enterprises.
Foreign and Ugandan government support has provided start-up money for the program . Additional funds are being sought to continue
organization, training, market research, build two gristmills and provide short-term loans. Past experience shows that the program is making a significant contribution to the economic and social
vitality of the individuals and groups who are participating.
Right: Home industry knitting machine.
|
