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AIG Celebrates 10 years of Microfinance Partnership in Uganda

AIU's Accident and Health President, Julio Portalatin (R) poses with members of Finca's Kisowera Women's Microfinance Village Banking Project at Kisowera, Mukono District in central Uganda on Thursday, March 15, 2007. The project aims at improving household incomes and eradication of poverty. AIG Uganda provides loan (credit) insurance to this project in partnership with Finca (Foundation for International Community Assistance). On the left is Patrick Corbett, AIU Regional Vice President for Africa.

AIG, FINCA Boost Women
New Vision (Kampala)
By Jackson Oboth

The visiting president of the AIG accidents and health division, Julio Portlatin, has pledged more support to FINCA Uganda to help women improve household incomes by adopting the saving culture and borrowing.

Portalatin, who visited the FINCA Village Banking Group in Kisowera, Mukono last week, listened to success stories of some of the members of the group attributing their successes in business to the village banking scheme.

Hajjat Lukiya Namuddu, 60, of Nalya Village in Kisowera, Mukono, said she has been able to improve her business after borrowing sh600,000 from the scheme. This has enabled her to look after her eight orphaned grandchildren.

Betty Namuswa, the FINCA Kisowera chairperson, said the group has 35 members who meet regularly o pay back the loans and share experiences on what affects their group, businesses and other social issues like HIV/AIDS prevention, sanitation and how to improve their businesses.

Portalatin hailed the group for embracing the scheme. "As you struggle to fight poverty out of your community, you can count on AIG and FINCA to continue helping you grow and become even enlightened to improve on your future and that of your children," Portalatin said.

Swabrah Scovia, the FINCA public relations officer, said their have been partnership with AIG for 10 years.