The covid pandemic slowed progress in setting up our 2020 women’s groups. But you can’t keep Busega Scotland down for long. We are delighted to report that the VICOBAs (village community banks) have received the first installments of capital in the villages of Isanzu and Mayega. This is the third group we have supported in or near the town of Igombe and the Mayega group is our debut in that village.
Busga Scotland’s commitment is £25 per woman paid in three installments. The first installment is paid after monitoring the progress of a group for 3 months. This includes checking payments by the women into their Afya (health) Fund and the General Fund, to get the VICOBA going. The Afya is to help cover medical costs for members’ families and the General Fund provides business development loans. The VICOBA grows through interest on the loans and by further payments for afya and into general savings. After twelve months, if all is going well, Busega Scotland withdraws and the groups become independent. All the capital in the VICOBA belongs to the women members.
The VICOBA balances for the two groups were as follows, when the first payments were made by Busega Scotland:
Isanzu – 32 women – Afya Fund £40 & General Fund £120
Mayega – 31 women – Afya Fund £32 & General Fund £120
Our 2020 Christmas Appeal is open to raise funds for a group next year (please scroll down to the article on 21 11 20 Sharing Christmas). It is possible to donate online through the Donate Now button on the website.