YESS CIRCLE
OUR PROJECTS
Empowering Communities, Leading Change
FINANCIAL INCLUSION & ENTREPRENEURSHIP
Over 450 million micro and small businesses, mostly in rural poor communities, form more than half of the global economy. Due to challenges like lack of collateral, many in these areas don't have access to affordable loans for business growth. In Uganda, similar difficulties exist for rural and low-income individuals in accessing traditional banking services. YESS, in partnership with a local organization, launched village saving and loan associations (VSLAs) in rural Uganda in 2020. These VSLAs comprise small groups that meet weekly to save money collectively and offer loans for business expansion. Members receive training in financial literacy and business planning while also building an emergency fund for mutual support. The project's success stories have been widely shared, demonstrating how individuals, with peer support, take charge of their development, learn sustainable financial and business skills, and benefit their communities.
BLOCKCHAIN TECHNOLOGY
A challenge of VSLA in general is that the records of savings and loans can easily get lost or stolen. This means, the groups cannot build a reliable track record of their repayments which could qualify them for traditional banking services in the future.
Through blockchain, this challenge can be tackled for the YESS VSLA by providing a platform which can even be used in the poorest community. With a renowned, experienced provider of blockchain technology, YESS has been working to bring digital solutions to the VSLA.
Built with blockchain technology, the program improves record-keeping, transparency and security while providing groups with a financial history that can be shared with Microfinance institutions (MFIs) to boost access to credit to grow their businesses. Through the use of simple internet-access phones which are locally available, VSLA members insert their savings and loan information in an app.
INCOME GENERATION
The Empowering Tailoring Initiative in Uganda is a sustainable income generation project that offers several key benefits:
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Free Tailoring Training: Provides accessible vocational training in tailoring to individuals, equipping them with marketable skills for economic self-sufficiency.
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Rent-to-Own Model for Machines: Implements a rent-to-own system for sewing machines, enabling participants to eventually own their equipment. This approach reduces initial financial barriers and encourages long-term investment in their new skill.
This project not only fosters individual skill development but also contributes to broader economic growth and empowerment within the community.
SUSTAINABLE NUTRITION
Food security, malnutrition and lack of diversity in food are massive challenges in Uganda. During the Covid lockdown, many people were at risk of death due to limited access to food starvation. After providing humanitarian aid twice, YESS worked on a more sustainable nutrition strategy for the community.
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Land was purchased in the community which is now used to regularly train people in sustainable food production and to grow a diversity of crops together with the community. The food can be sold to increase income or used for the community itself.
