Build Africa project shortlisted for 'Big Impact' award
16 July 2012
We are delighted to announce that our ‘Save-Up Project’ in Kumi and Bukedea districts, Uganda has made it onto the shortlist for the ‘Big Impact’ category of the Third Sector Awards. The award is granted to a voluntary organisation that the panel feels has had a substantial impact on national or international life.
The ‘Save-up project’ involved 14 poor rural sub-counties in Kumi and Bukedea, Uganda and enhanced the livelihoods of 22,242 poor and marginalised households who previously had little or, more commonly, no access to financial institutions.
The project contributed towards poverty reduction and wealth creation because access to loans meant members could invest in income generating activities and increase spending on vital areas, such as healthcare and education.
In addition to being empowered to save and earn their way out of poverty, group members had the opportunity to take out interest-free loans from the ‘Welfare Fund’, to which all members contributed. The Welfare Fund enabled them to respond to critical household issues relating to family health, well-being, and their children’s education.
Due to the project’s success, the model has become the cornerstone of Build Africa’s ‘Build an Income’ programme. The work has been successfully scaled-up and replicated in communities we work with in Masindi, Uganda, and in Kenya, and has now reached more than 40,000 direct beneficiaries and at least 150,000 indirect beneficiaries. To date, members have saved and earned accumulated savings of nearly £900,000, but more importantly will continue to do so through the income generating activities they have been able to invest in long after we have phased out.
The winner will be announced on Thursday 27th September.