Are you interested in volunteering with microfinance project in Uganda? You can volunteer with Community Microfinance Limited (CML), a small institution which is striving to improve the lives of the low income earners through training in microcredit, entrepreneurship, capacity building and technical assistance in Micro financing.
Community Microfinance Limited operates a microfinance project in Wakiso District, Uganda. This provides financial support to people who are unable to access mainstream banks. In particular, CML microfinance project provides loans to low-income women, youth and men in the district, allowing them to set up and to grow their small enterprises.
CMLis continually striving to improve itswork, volunteers and interns’canhelp make a very big difference within the administration, communities and individual beneficiaries being served. CML is committed to community and Entrepreneurial development through education, networking, technical assistance, and training. Change the attitude of over 80% unemployed youth from being job seekers to become job creators, Connecting mentors in our communities with entrepreneurs in the same communities and improve the entrepreneurial environment for the youth in Uganda.
Community Development refers to activities that help build capacity and create the building blocks for lasting change. It encompasses a wide variety of tasks.
Role of Volunteers or Interns:
CML is currently working with groups (womens groups and/or small scale farmers, Youths groups) to access the funds they need to create a stable income for themselves and their families. At present, the program needs to be evaluated and improved so that it runs more efficiently. An intern or volunteer with a background in business and accounting, and with an interest in social entrepreneurship, is needed to evaluate this program and provide recommendations for improvement.
- Group financial and business management training
- Work with CML and Groups and see how affordable loans can be accessed for their activities.
- Design approaches for recovery of loaned funds for CML or Groups
- Train group members on entrepreneurship and business
- Helping in project proposal writing to potential donors
- Assisting the community to initiate income generating projects for sustainable development
- Assisting in brand design and Risk/portfolio management for CML
- Train group members in record keeping
- Help do a feasibility study for the proposed new branch
- Be part of the community sensitization meetings
- Attending weekly and monthly meetings of the local community groups
- Facilitating training, monitoring, and evaluation
- Be in constant touch with the Field Officer who is the manager of the group(s) and individual borrowers
- Assisting the field officers in their work of helping the groups with the financial contributions as stipulated in their group constitution and money lending to members
- Checking on the eligibility of members seeking loans from the local groups
- Writing weekly and monthly reports about the financial flows of the groups
- Assisting in any legal requirement in case of a default by any member
- Working with the group secretaries for any letters or documents needed by the groups
- Assist in updating company website
- Any other ideas are welcome
The aim of this project is to support the economic participation of women and youth, promote equality and improve the welfare of the beneficiaries.
Why is this project important?
Uganda is burdened by extreme poverty and faces significant challenges as it tries to meet the Millennium Development Goals (MDGs).
Microfinance is proven to be an effective and efficient means to combat poverty. However, in Ugandaless than 3 million people are currently benefiting from microcredit. Many more people could benefit from this help and therefore it is important to expand microfinance programs in the country.
How does the CML’s microfinance project work?
We believe that our community challenges need special attention and our products are tailored to creatively meet these needs. CML has designed an In-Kind Youth Loan product that meets the needs of the young entrepreneurs. CML is using a strategy that goes beyond collateral to give community members an opportunity to have access to capital and tools to use in their businesses. In Africa and other developing countries having no access to capital is ranked number two among the most pressing needs for businesses.
Many financial institutions do not mind the fact that entrepreneurs need to be helped in idea generation. Through our mentoring program we encourage young entrepreneurs on their journey to their dream enterprises by attaching them to community members that have weathered though the storms of setting up and running businesses.
Vision :- To be the preferred world-class microfinance institution in Uganda
Mission :- To provide efficient, affordable, innovative and sustainable, customer-focused financial
services to the underserved communities in Uganda.
CML GROUP LOAN
Community microfinance provides loans to groups of 5-20 women, youth and men. Each member in the group has his/her business idea appraised and receives five training sessions covering topics such as, group dynamism, simple book keeping, loan management, business plan, and cash flow management. These training sessions take place in the community at a designated place of convenience to all members or at the branch for those that stay close to our offices. All group members are required to save money before they take the loan.
Groups meet with a credit officer at least once every month to review their progress. Repayments against loans are made weekly, bi weekly and monthly by each group member. In cases where things are not going well the group through its committee informs the credit officer who convenes a meeting to resolve the problem.
SMALL BUSINESS LOAN (SBL)
This product targets Individual Entrepreneurs who have been in business for more than one year and are seeking for capital to boost their business.
The conventional microfinance institutions normally give loans in form of cash but this comes with its own problems. CML has designed an in-kind loan product as a test to minimizing any undesirable consequences that arise as result of giving cash especially to the young entrepreneurs. This product mainly targets the young entrepreneurs that have little or no experience of using borrowed funds. We mainly help our clients acquire business assets such as motorcycles, solar, carpentry tools, fridge, acquiring driving licenses, and any other business related assets.
COMMUNITY MICROFINANCE YOUTH ENTREPRENEURSHIP PROGRAM
Community Microfinance Youth Entrepreneurship Program (CMYEP) provides a unique experience for youth to take an idea of their own and turn it into an actual business that serves their community and also helps them have a livelihood. About 80% of the youth in Uganda aged 35 are unemployed but this does not mean that they cannot engage in meaningful production given an opportunity and those that have started businesses do not cerebrate their first birthday. Our programming is built around the idea that youth shouldn’t just learn the concept of entrepreneurship -they should get the chance to put it into practice.
Our program provides youth with the opportunity to engage in entrepreneurial efforts within their community to create an economically self-sustaining community. Youth learn how to capture a market share of their “micro-economy” (i.e. the money that circulates in their environment), and they get to determine how to use the profits from their businesses for re-investment and taking care of their everyday needs like health feeding, and school fees.
We have over the years realized that many of our clients in the rural area face several challenges notably the lack of access to electricity or other forms of power.About 20% of rural household budgets go to paraffin, wax candles, and dry cells. This represents a million dollar business, but it does not empower Uganda: the goods are imported, and the money leaves the country. The country’s paraffin consumption for lighting alone is 1.7 million barrels of oil per day, greater than the oil production of Libya.
Our solar products help the community members live a better life.
Volunteer Accommodation: The accommodation is a volunteer house detached from the hosting family. The volunteers will stay in the same complex with the hosting family. The distance to the office is about half a kilometer and it is a walkable distance that takes about 10 minutes.
Language Requirement: English
Sex: Both, Age: 21+
Typical Volunteer Hours: Typically volunteers have an average 5-8a day, 5 days a week. Volunteers may be needed evenings and weekends. You can take long weekends to travel and explore Uganda, just let your supervisor know in advance. We know that you are volunteering your valuable time. Therefore, if you would like to volunteer for fewer hours, this is ok. You can arrange this with your supervisor once in Uganda.
Duration: 1 month +
When: Year Round
Asset Skills: Excellent knowledge of accounting and business, especially social entrepreneurship and other skills in finance.
Program Fees. (USD$)
Placement Booking fee: USD$100 (non-refundable), paid upon acceptance into the program
Fees Paid upon arrival in Uganda
3 weeks – $ 300
4 weeks- 400
Any additional week- USD$100
Airport pickup fee: USD$60
Pre-departure support: You will have a staff member available to support you throughout your time preparing to come to Uganda. In addition, you will be provided with all the resources you need including your Volunteer Information Pack.
Category: Payday loans