MASAKA YOUTH DEVELOPMENT ASSOCIATION
This project supports and empowers youths by helping them start their own small businesses
Uganda has one of the highest percentages of youth in the world, with 77% of the population being under 30. Unfortunately however, 83% of Uganda’s youths are unemployed and when you combine this with the fact that Uganda has the 13th fastest growing population in the world you can see that the creation of sustainable youth jobs is an urgent priority for the country’s future.
Masaka Youth Development have been perfecting their model of supporting start-up businesses over the past 5 years and they can boast an amazing 40 members who have become job creators rather than job seekers. They operate by providing start-up loans to youths who are looking to start a small business.
The association does incredible work to support and empower youths by not acting like a corporate bank and helping them to succeed. One example of this is when one member had an accident and broke their leg, the MYDA agreed to cover all the medical bills for free. The associaton also provides two training days every quarter and all members who build their savings with the group become shareholders and they receive a Christmas bonus.
But with all of this, they still operate to make sure that the money is responsibly and securely borrowed. Members have to have saved 50% of the total loan from their own money to show their dedication to the business.
The group is now keen to expand, and with your support they have come up with the perfect way to do it.
2020 Goals for Masaka Youth Development Association
- To add 20 new members to their loan and savings group by the end of 2020
- To have established 20 new youth led businesses that are actively paying back their loans by the end of 2021
How your fundraising will help us achieve the goals
The association is now keen to grow and add more members to their family. To do this, very simply, they need 1,200,000 UGX ($328) for each new member who can start to earn a sustainable living for themselves and their family, and to go on to offer employment to other youths in Uganda.
This sum will cover training and an apprenticeship for the member to help them gain the skills necessary for their particular business plan, as well as a start-up loan that will help kickstart their business. With a proven track record in a variety of differnt businesses, ranging from poultry rearing to brick making to Boda Boda driving (motorbike taxis), there are memberes queuing up waiting to join.
Your Legacy Day During the Uganda Marathon Week
At the time of The Uganda Marathon, there will be a new intake of youths who are about to receive their loans and join membership. Alongside local experts, you’ll be working with the youths on their business models to make sure that they understand things like costings, basic accounting, sales & marketing and stock control.
As well as this, you’ll be creating a key hole garden within the grounds that will act as a model to show the beneficiaries a simple way to use their small hold plots to increase their family’s nutrition.
Legacy day activities are subject to change at any time, this is not a final plan.
Local Hero Profile
“MWESIGE ZACHARIAS: A well self motivated youth whose parents fought tooth and nail to get school fees through bank loans which was not an easy task, completed school in 2012 and spent a full year without a job, thought of a way to solve the problem of un employment among the youth and solution was starting a community based organization to empower the youth financially buy giving them loans.
Mobilized the fellow youth to join and we started off, by the end of the year, we were 15 members saving and borrowing amongst ourselves, currently we now Have around 35 full members enjoying the benefits. MAYDAS is currently a solution to the to the problem of un employment among the youth is the village of sazza and neighborhood who cannot afford loans from banks because they don’t have any security to give to the bank and the interest charged is too high. Our long term objective is to become a fully registered micro finance and later a bank”