Whether or not one agrees that microcredit improves sustained income, microloans do enhance women’s economic empowerment through other avenues. Demonstrated benefits include helping women self-support, job creation in the community, greater control of monetary assets by women, and income smoothing. Women entrepreneurs make significant contributions to the global economy year after year, especially through innovation, job creation, and wealth creation. Still, there is critical room for improvement, as women currently make up 70% of the 1.3 billion people living in poverty. These women often face a lack of capital, which is one of the primary barriers to the full participation of women in the economy through avenues such as entrepreneurship.
As a way of empowering women financially, MASYAP through its microfinance programme continues to provide microloans to women. Prior to accessing the loans, women are trained on how manage their businesses so that they are able to repay their loan, run the business successfully as well as provide for their families. During the August training, a facilitator, Mrs Else Kumwanje, a bachelor’s degree holder in accounting obtained at Islamic University
In Uganda (IUIU) was invited to equip them with business running skills.