Microcredit Program

Most families supported by Omoana were in one way or another affected by HIV/AIDS or war. This had a great impact on the economic situation within their households. We intend to support the children within their communities as much as we can, and try to avoid creating dependence. Focusing on the long-term, we believe that microfinance is an effective tool to tackle the fundamental rights of the children by empowering their families. We implement the Microcredit Program in collaboration with “St.Moses Children’s Care Centre & Community Development” and “African Child Outreach Trust”, both Ugandan Organizations.

In 2013, more than 1,850 families who didn’t have access to financial services are able to manage income generating activities thanks to these projects. Women are more likely to direct the benefits of their income to the children in their care. Granted primarily to women, the program enables freedom and a strengthened position in Ugandan society. Loans ranging from 50 US$ to 250 US$ are given with a flat interest rate of 15% reimbursed in 6 months. The interest is later reinvested in the project to enable it become self-sustaining in the future.

A strict system of training (entrepreneurship, savings and credit management) has been established so that loans are used properly and invested in viable projects. We have found in microcredit an appropriate way to strengthen the capacity of the individual as well as entire families, to take care of themselves.