Uganda Youth Economic Empowerment

Mushana E SACCO Uganda LTD

Main objective

• To teach People the culture of savings. • To encourage people to save and use their savings constructively • To encourage people to excel in their trades, professions and businesses and do their best every where they are. • To teach People the culture of conducting business online through internet and mobile transactions. • To promote thrift among the members by affording them an opportunity for accumulating savings and paying reasonable interest without risk on such savings. • To create a source of funds from which Mushana afford relief to members in need by availing Credit to its members for productive, provident purposes, and in emergency situations at fair and reasonable rates of interest under given terms of repayment.

Brief Project Description

Uganda has the second highest number of young population in the world at 68.7% after Timor-Leste and has 83% of youth unemployed, a few who are employed have a poor saving culture and are not entrepreneurs hence failing to help the nation in creating more jobs. Realising this situation, Mushana E SACCO Uganda LTD came up with the solution to start up a Project called Uganda Youth Economic Empowerment which has already established a Youth SACCO, the first youth financial institution in Uganda to empower youth with innovative ideas but have no financial capacity and access to bank loans due to lack of COLLATERAL. Lack of collateral is a major constraint to entrepreneurship globally which is to be addressed squarely through this SACCO with purposes of guaranteeing one another to take loans and a revolving fund to start up businesses from own savings. The majority youth in Uganda do not have any formal bank accounts through which they can access credit or even small loans from the mainstream commercial banks. This SACCO seeks to address this problem to support the Youth develop capacity to enable them access loans through pooled investment schemes. This being a digital era, Youth failed to join already existing SACCOs which have not adopted ICT. Having realised that, we have harnessed ICT to come up with a new innovation (Electronic SACCO System www.mushanapp.com) and the first of its kind in Uganda to enhance SACCO services, since most youth spend most of the time on internet, this new innovation will enable youth access SACCO services online and mobile phones. Mushana E-SACCO System is unique in the sense that Mobile Money has made it possible for people to pay their public utility bills (i.e. Water and Electricity Bills) and even to operate bank accounts using their Mobile Phones. What Was remaining to be done was simply to introduce an Electronic Savings & Credit Co-operative (E-SACCO) Society without borders that is able to capture daily remittances from all parts of the world (i.e. a border less global movement or society) where people who own and operate mobile devices are willing to upgrade their mobile phones with the capacity for Mobile Money Transfer (MMT) technology. MUSHANA E-SACCO SYSTEM can be used globally to pool savings by Internet and mobile phone users which can be invested in income generating projects that affect the poor directly. In Kampala Area alone, MUSHANA E-SACCO Uganda intends to partner with SACCOS, Government and Cooperate companies. MUSHANA E-SACCO Uganda is seeing a most excellent opportunity for members to save from any where they are without necessarily to move from one place to another for meetings and one to be able to save. Mushana E-SACCO Uganda seeks to promote a culture of pooling savings in very small amounts on a daily basis through E-SACCO SYSTEM based on "economies-of-scale", investing these savings in income generating projects which affect poor people directly in a beneficial manner. In Uganda, we are targeting over 19 million subscribers who own, access internet and operate mobile devices.

Project website

www.mushanapp.com

Most relevant activities

We have already established a youth sacco calle

Background and justification

Information and Communication Technology (ICT) now drives businesses in a fast-paced world, where competitiveness and customer satisfaction is measured by efficiencies, convenience, delivery speeds and cost-effectiveness. SACCOs cannot escape the hold of ICT over business operations, especially considering that ICT enables businesses to find new ways to drive down the costs of products and processes, in addition to improving performance. Our ICT service aims at bringing SACCOs and the cooperative movement in general into the ICT fold to benefit from technological advances of internet connectivity, electronic communication as well as web-based production and delivery of products and services, besides closer customer service, secure and more data storage, as well as marketing and e-commerce Mushana E-SACCO System is unique in the sense that Mobile Money has made it possible for people to pay their public utility bills (i.e. Water and Electricity Bills) and even to operate bank accounts using their Mobile Phones. What Was remaining to be done was simply to introduce an Electronic Savings & Credit Co-operative (E-SACCO) Society without borders that is able to capture daily remittances from all parts of the world (i.e. a border less global movement or society) where people who own and operate mobile devices are willing to upgrade their mobile phones with the capacity for Mobile Money Transfer (MMT) technology. MUSHANA E-SACCO SYSTEM can be used globally to pool savings by Internet and mobile phone users which can be invested in income generating projects that affect the poor directly. In Kampala Area alone, MUSHANA E-SACCO Uganda intends to partner with SACCOS, Government and Cooperate companies. MUSHANA E-SACCO Uganda is seeing a most excellent opportunity for members to save from any where they are without necessarily to move from one place to another for meetings and one to be able to save. Mushana E-SACCO Uganda seeks to promote a culture of pooling savings in very small amounts on a daily basis through E-SACCO SYSTEM based on "economies-of-scale", investing these savings in income generating projects which affect poor people directly in a beneficial manner. In Uganda, we are targeting over 19 million subscribers who own, access internet and operate mobile devices.

Technologies

We have developed a web based sacco software (MushanAPP)and we are launching our mobile app soon which will enable people to easily access sacco services.

Dissemination Efforts

We have created Social media pages like Facebook and twiter pages to try to connect with the youth and different people in Uganda.

Most relevant outcomes

We have already established a youth Sacco called Mushana Youth Sacco in Uganda. This SACCO seeks to support the Youth develop capacity to enable them access loans through pooled investment schemes. This being a digital era, Youth failed to join already existing SACCOs which have not adopted ICT. Having realised that, we have harnessed ICT to come up with a new innovation (Electronic SACCO System www.mushanapp.com) and the first of its kind in Uganda to enhance SACCO services, since most youth spend most of the time on internet, this new innovation will enable youth access SACCO services online and mobile phones.

Awards and distinctions

Tony Elumelu Entrepreneurship programme 2016 $5000 grant.

Explanation

MushanAPP through Uganda Youth Economic Empowerment has promoted quality of life and self-reliance to all youths for fruitful participation in development activities in their societies. The project has restored human dignity and other personal freedoms primarily the less privileged persons aged 18 to 30 on equal gender terms. Uganda is a landlocked country, with a population of about 35 million people. The National Youth policy in Uganda defines the youth from the age of 18 to 30 with an extension of up to 35 years. More than half of the population in Uganda are people below the age of 30. This signifies that the youth in Uganda are the majority. However, the Uganda National Youth profile indicates that in Uganda poverty is widespread, deep and severe because of the high unemployment rate of 83%, among youths. Youth unemployment in Uganda is the highest in Africa. In the past decade, Uganda has experienced strong GDP growth, averaging 7% annually, but this has not generated jobs, a trend seen across the continent. Ugandans primarily depends on agriculture as a source of their income. It is estimated that more than 80% of the population in Uganda, depends on the agro-based economy. Very few young people are actively involved in any socio-economic activities and entrepreneurship has not yet been fully adopted by various sectors of the society as a means of economically empowering the unemployed or the marginalised youths. Therefore, Mushana E SACCO Uganda’s concept has capitalised the promotion of entrepreneurship spirit amongst the young people through direct training and economic empowerment of youth groups, in disadvantaged communities. The concept has promoted the profitable use of locally based resources and localized technologies that can be easily supported and sustained in own communities

Facebook profile or Facebook page about the project

www.facebook.com/mushanapp

Twitter profile for the project

http://twitter.com/mushanaApp

Google+ profile for the project

mushanapp

Supporting Links

https://www.facebook.com/mushanapp
https://www.facebook.com/MushanaYouthSACCO
https://www.facebook.com/MushanaYouthSACCO

Supporting Documents

Uganda_Youth_Economic_Empowerment_Project.doc


Project representative

Mugabe Janson

Project representative on Linkedin :

https://www.linkedin.com/in/janson-mugabe-94b603121?trk=nav_responsive_tab_profile_pic
 
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