How Ankole women are promoting financial independence

Women in Ankole Diocese have started an investment club to improve household incomes and stop dependence on their husbands for support.

Under their umbrella body, the Ankole Diocese Women Investment Association (ADWLA), the group says they want to promote strategic investment and development.

“We found out that poverty was high because of a family solely being dependent on a man and that a man cannot manage,” Dr Alice Mwesigwa, the brain behind the association, said.

“So we had to find out how we can empower women to improve on their husband’s income. If he can pay school fees, let the woman buy books and uniforms,” she added.

Dr Mwesigwa said aware of the low incomes of most families and the fact that they did not want to leave any woman behind, they decided to start saving with as little as Shs4000 per month with a target of saving Shs240,000 in five years. “Our module was to capitalise on the big numbers of women in the diocese to get the savings for strategic investment and development. We were sure that at least every woman would manage this money because even doing casual work up to midday in this region earns one not less than Shs5000, so it was achievable,” she said.

Dr Mwesigwa said they set a target of saving only for five years and then start using their savings for investment in three areas of education, health, and improving household incomes.

The association treasurer, Ms Jovia Kamugisha, in her financial report to the members during the annual general meeting in Ruharo on Saturday, said they started in 2015 and have since bought land, which is now worth Shs150 million, and have fixed assets of Shs155.5 million.

“We now have a membership of 420 members who have fully paid Shs240,000 that was supposed to be paid by each member in five years,” she said.

The association members agreed that they can now start benefiting from their long-term savings through acquiring loans.

“We are putting our money in Ankole Millennium Savings and Credit Cooperative Organisation in the form of shares, and we agreed with members to start buying more shares. The members can now also start borrowing money from the association, and engage in income-generating activities,” Ms Kamugisha said.

Bishop speaks out

Ankole Diocese Bishop Sheldon Mwesigwa applauded the women for their strategic thinking and noted that this association will be a game changer in homes and communities.

“The culture of saving is very challenging to many people but again most people know that it’s only those that earn much that can save but this is a living example that you can save, invest, and develop even with little earnings,” he said.

Bishop Mwesigwa promised to lobby for the association to get support from several players in the country and abroad.

“We might not give you funds to boost your investment but what you are doing gives us trust to lobby for support from different development players across the region and internationally. Most international organisations are looking at organised groups, mostly for women and youth,” he added.

Ms Lucky Natukunda, 35, from Rwentanga Bubaare Sub-county in Mbarara District, said the association has taught them about a saving culture.

Reactions

Ms Agnes Buhamizo, 45, a resident of Ihoho in Bugamba Sub-county testified that since she joined the association, her family has been at peace.

“There is nothing that brings conflict and violence in a home such as poverty, when I joined ADWIA, we were sensitised on saving and starting at least an income-generating project as a woman at home, I started vegetable growing and began supplying nearby schools and went into beekeeping,” she said.

“Since then I can tell you my family is happy. My husband can pay fees, I buy other family necessities like clothes, soap, and salt,” she added.