Kitgum Women's Revolving Fund Sees 186% Return on Investment

A revolving fund initiated by Lillian Aber, the State Minister for Disaster Preparedness, Relief, and Refugees, and Kitgum District Woman Member of Parliament, has yielded impressive returns. With an initial investment of UGX 14 million, the fund has generated over UGX 40 million in interest.

Launched in January 2024, the revolving fund aimed to provide financial support to women in Pager Division, Kitgum Municipality. A total of 1,234 women have benefited from the initiative, using the funds to start or expand their businesses. 

Okello Evelyn Linda, Chairperson of the Women's League in Pager Division, shared that each group from a specific cell received UGX 1 million as part of the revolving fund. These funds were distributed across 14 cells in the division. 

According to Mrs. Okello, the women have shown exceptional performance, with the best-performing group being Ayul A South Cell, which generated UGX 5.5 million in clean interest. This was closely followed by Latiti Cell, which generated UGX 5.4 million.

"We are thrilled with the performance of the revolving fund," Linda said. "The women have been able to use the funds to grow their businesses, and the returns have been impressive." She emphasized that the fund has transformed the lives of the participants, enabling them to improve their livelihoods and better support their families.

However, Mrs. Okello expressed disappointment with one group from Nyanya Cell, which failed to account for the UGX 1 million provided to them. "It's unfortunate that Nyanya Cell failed to utilize the funds effectively," Okello remarked. "We expect all groups to be transparent and accountable in the use of the funds." Minister Aber expressed her satisfaction with how well the women have managed the fund.

"I am extremely happy to see how the women have handled the funds," Minister Aber said. "This demonstrates that women can be trusted with financial resources." As a reward for their dedication and hard work, Minister Aber awarded additional cash prizes of UGX 1 million to the best-performing cells. The initiative, Minister Aber concluded, aims to empower women economically and improve their livelihoods. The revolving fund is expected to continue generating returns, ensuring a sustainable source of funding for women in Pager Division. 

Josephine Adong, a beneficiary from Lemu Central Cell, shared that the fund has helped her expand her business. "After borrowing from the fund, I invested the money into my business, and it has been thriving," Adong said. "However, the challenge now is that my business is growing, and the demand is increasing, making it hard to expand further." 

Vincent Kalule Abala, the chairperson of Lemu East Cell, revealed that the fund has had a significant positive impact on the community, particularly in reducing Gender-Based Violence (GBV). "The fund has empowered women in our cell, and they are no longer as dependent on their husbands," Abala explained. "With their businesses, they have gained financial independence, which has helped reduce GBV cases." 

The initial investment of UGX 14 million has now generated over UGX 40 million in interest, marking an 186% return on investment. This success is particularly notable given the challenges women face in accessing financial services in Uganda.