Women social and economic strengthening

1. Introduction

In August 2024, the Charity Centre for Children and Youth Development conducted a financial literacy training program targeting 100 small-scale farmers and micro-entrepreneurs in Kasempa and Manyinga Districts. The initiative aimed to equip 80 women and 20 men with essential financial management skills to support their agricultural and entrepreneurial activities.

2. Objectives

The program was designed to:

• Provide basic financial management skills, including budgeting, savings, and record-keeping.
• Educate participants on accessing and managing credit from local financial institutions.
• Introduce investment strategies suitable for small-scale farmers and micro-entrepreneurs.
• Foster sustainable financial practices to improve household income and expand small businesses.

3. Training Activities

The sessions covered:

• Budgeting and Financial Planning: Participants learned how to create both household and business budgets, track expenses, and plan for investments.
• Savings and Credit Access: Emphasis was placed on saving habits and how to access and manage microloans without falling into debt.

Interactive group discussions and practical exercises were used to reinforce the lessons, ensuring participants gained hands-on experience in financial management.

4. Outcomes

At the conclusion of the training, participants were able to:

• Develop personal and business budgets.
• Understand the significance of savings and begin implementing strategies to build their savings.
• Explore ways to access financial resources, including village savings and loans associations (VSLAs) and formal credit facilities.
• Implement basic record-keeping practices for their farming and entrepreneurial ventures.

5. Challenges

The program faced several challenges:

• Limited access to formal financial institutions in the rural areas of Kasempa and Manyinga.
• Initial hesitance from participants regarding formal record-keeping due to low literacy levels.

To address these challenges, additional support and follow-up training sessions will be conducted, with a focus on enhancing participants' literacy skills and connecting them to nearby financial services.

6. Request for Financial Empowerment

Throughout the training, many participants expressed a desire for further financial support to help them expand their businesses and improve their livelihoods. The participants have requested access to small grants or low-interest loans to enable them to:

• Purchase farming inputs and equipment.
• Expand their small businesses by increasing stock or upgrading their operations.
• Implement new financial strategies learned during the training, such as savings plans and small-scale investments.

This request underscores the need for continued financial empowerment initiatives to complement the financial literacy training, ensuring participants can fully implement the skills they have acquired. The Charity Centre for Children and Youth Development is committed to exploring partnerships with financial institutions, microfinance providers, and donors to meet this demand and provide tailored financial products to these farmers and entrepreneurs.

7. Conclusion

The financial literacy training for small-scale farmers and micro-entrepreneurs in Kasempa and Manyinga has successfully built a foundation for improved financial management. However, for the training to have a long-lasting impact, financial empowerment through access to small grants or loans is essential. The Charity Centre for Children and Youth Development will continue to advocate for financial support to help these participants achieve sustainable growth and economic resilience.