Why microloans matter for women
Microloans help women support themselves, create jobs and control their own money. In August, members were trained by accountant Mrs Else Kumwanje.
Whatever one’s view of whether microcredit raises incomes in the long term, microloans strengthen women’s economic position in other ways. Proven benefits include helping women support themselves, creating jobs in the community, giving women more control over money, and smoothing out income.
Women entrepreneurs contribute greatly to the economy through innovation, job creation and wealth creation. Yet women remain over-represented among the world’s poorest people, and a lack of capital is one of the main barriers to women taking a full part in the economy, including through running their own businesses.
Our approach
MASYAP continues to give microloans to women. Before receiving a loan, each woman is trained to manage her business so that she can repay the loan, run the business successfully and provide for her family.
At the August 2022 training, the facilitator was Mrs Else Kumwanje, who holds a bachelor’s degree in accounting from the Islamic University in Uganda (IUIU).
