Kiboga Epicenter Bank Achieves Government Recognition

On January 25, 2007, the Kiboga Epicenter in Uganda celebrated the official inauguration of its government-recognized rural bank, the third in Uganda and the sixteenth across The Hunger Project Africa program countries. Honorable Ruth Nankabirwa, the Ugandan State Minister for Defense, was the guest of honor at the inauguration, and Dr. Tadesse was also present (see above photo of the Chairperson of the Board of Directors, Country Director Irene Wasike Muwanguzi, State Minister for Defense Hon. Ruth Nankabirwa, and Dr. Tadesse).  

At the time of inauguration the bank had 283 members, 241 women and 42 men. The total value of the bank's initial capital was $91,891. Of this, savings valued $12,165, and membership and shares valued $3,464.

The Hunger Project Uganda expanded the epicenter strategy to Kiboga district towards the end of 2001. Almost a year later in November 2002, the community began construction of the epicenter as well as implementation of the African Woman Food Farmer Initiative (AWFFI) and Strategic Planning In Action (SPIA) Direct Credit programs. The Direct Credit Program in Kiboga Epicenter lasted successfully for 3 cycles. During this time, the cumulative repayment was 97 percent for women and 93 percent for men. During the Direct Credit phase there were a total of 47 AWFFI women's groups with 630 partners and 13 SPIA men's groups with 155 partners. The cumulative loan disbursements were $136,123 for AWFFI and $17,364 for SPIA.