Mar 21, 2007
New Field Partner in Uganda: Share An Opportunity Micro Finance
We are excited to announce an additional Ugandan Field Partner, Share An Opportunity Micro Finance, operating out of Kampala:
Share An Opportunity Micro Finance Ltd (SAO) is a SACCO promoter and direct microfinance provider. It started microfinance operations in 1998 on a pilot basis in several districts. The aim was to learn from communities what their perceptions of the different approaches and methodologies in financial services existed. The lessons were encouraging and led to the official registration of SAO MFI (U) Ltd in 2002 as a promoter of branded SACCOs. It is supporting fourteen (14) SACCOs of which six are in Eastern Uganda and eight (8) in central Uganda.We'd like to welcome SAO to the Kiva Community!
SAO MFI is a member of the Association of Micro Finance Institutions in Uganda (AMFIU) and works in partnership with the Uganda Cooperative Alliance (UCA). It adheres to the best practices of micro finance and AMFIU code of conduct.
SAO MFI program was developed from the sister program of Share An Opportunity – Uganda which supports communities to implement social service components such as: primary health care, water and sanitation, adolescent and reproductive health, functional adult literacy, child development and food security.
In addition to direct microfinance provision, SAO MFI facilitates communities to start community owned instituitions. The community members pool their resources in form of share capital and savings which they lend to each other.
SAO's approach is that they facilitate community in the following:
Facilitate communities to form functional structures Capacity building through training on Business skills development, financial management, Savings mobolization, Enterprise selection, Management of viable IGAs, Purposeful borrowing for sustainable development, Gender conderations and other cross cutting dimensions e.g HIV/AID and Environment. Participatoring monitoring and Evaluation of their own progress The community members are trained in governance and leadership skills to manage their development initiatives.