Most youth in Mityana are unemployed and lack access to startup capital for their agribusinesses. To empower unemployed youth and promote entrepreneurial opportunities for young women and men, HRNS trains and exposes young farmers to business and financial literacy skills.
Since many young people are not able to meet the requirements of financial institutions, HRNS also supports the establishment of Village Savings and Loan Associations (VSLA). A large number of youth have now gained access to financial services either directly from financial institutions or from their own initiated VSLA in which they have been saving.
To ensure youth have access to affordable financing for agribusiness startups, HRNS also facilitates exchange meetings between local government leaders and young people. This platform has created the opportunity for youth to understand and apply for available government grants. Over 3000 young people in the project have been supported to apply for poverty alleviation funds and 17 youth groups have accessed funds.
Financial Literacy and Business skills development
Opportunity International acquired the services of Kenyan consulting company (Teach A man to Fish) for the development of youth financial services which will be provided by Opportunity Bank Uganda.
Teach a Man to Fish is a non-governmental organization that aims to eradicate poverty.
Training on business implementation. Youth are knowledgeable in agriculture but lack the entrepreneurship aspect. The training program is piloted in Maanyi and Bbanda Sub-Counties. work with youth so that they can be self-employed.
Linkages to Financial Institutions
Identification of financial institutions for example Opportunity Bank International to give loans to Young people
Linking young people to poverty alleviation funds
Village Savings and Loans Associations (VSLA)
A Village Savings and Loan Association (VSLA) is a group of 10 – 25 people who save together and take small loans from those savings.
