Savings and other Product development SACCO Training in Mbarara Cluster
PROFIRA seeks to increase income, improve food security and reduce vulnerability in rural areas. The project’s development objective is to substantially increase access to and use of financial services by the rural poor population.
To enhance the sustainability of SACCOs by building their capacities to self-govern, mobilize members and capital, manage their operations and finances, serve their members with appropriate training and products, and plan strategically.
Targeted Outreach and Coverage
The consortium is responsible Building capacity of SACCOs from districts of Kasese, Bushenyi, Rubirizi, Mitooma, Buhweju, Ntungamo, Kanungu, Rukungiri, Kabarole, Mbarara, Kisoro, Kabale and Isingiro, and PROFIRA targeted SACCOs already in active operation, and with potential to grow and become self-sustainable. The project targets 500 SACCOs country wide of which UCA Consortium was allocated 73 SACCOs, with hope to increase the allocated numbers
The Government of Uganda (GoU) and the International Fund for Agricultural Development (IFAD) jointly designed the Project for Financial Inclusion in Rural Areas (PROFIRA). The implementation of this 7-year development project is being supported by an IFAD loan of around USD 30 million and grant of USD 1 million. A Project Management Unit (PMU) under the Ministry of Finance, Planning and Economic Development (MFPED) is administering the project. After a successful competitive bidding process which was administered by MoFPED in 2014, Uganda Cooperative Alliance (UCA) is working in partnership with BOMA Consult Ltd, Association of Financial Cooperative Professionals of Uganda (AFCPU), and Makerere University Business School (MUBS) Microfinance Center, to provide trainings and technical assistance for ninety (98) Savings and Credit Cooperatives (SACCOs) in Western Uganda, also referred to as Lot 2 by the Project for Financial Inclusion in Rural Areas (PROFIRA). The training covers six (6) thematic areas namely: Financial Literacy and Deposit Mobilisation, Governance, Business Skills Development, Financial Management, Savings and Other Product Development and Strategic Planning. Implementation commenced in June 2016 and it will end in June 2019.
UCA Consortium work
UCA Consortium activities include Training SACCOs in key areas of Financial Literacy, Governance, Business Development, Financial Management, Savings and Other Product Development, and Strategic Planning. The purpose of the assignment is to contribute to facilitate the achievement of PROFIRA’s goal of increasing income, improving food security and reducing vulnerability in rural areas, and its development objective of substantially increasing access to and use of financial services by the rural poor population
In addition to conducting specified trainings assignment, guiding SACCOs to improve their co-operative governance, monitor their operations; mentor the leaders and management staff to ensure that they perform their duties professionally; to provide technical assistance in form of Mentorship and guidance to ensure that SACCOs become safe, sound and sustainable institutions with capacity to provide easily-accessible and affordable services to their members, on a sustainable basis.