Book week festivals
Nakaseke will be participating in the National Book week festivals 14-20th October) where children and the public will be invited to visit the Library and enjoy their leisure reading. During the week will also have teachers and pupils writing their stories which will be bound in simple books. besides reading children will have their songs played live on our community Radio Nakaseke FM 102.9fm
the group is composed of 20 members who meet regularly every two weeks to save and loan money among themselves.
they also meet and set rules and decisions which keeps the group forward. Usually the first cycle lasts for 12 months and at the end of each cycle the group members decide to divide their assets, pay each member a dividend proportionate to his/her savings.
How does VSLA work?
The group is self-made and independent
All transactions at the meetings are carried out in front of all members to ensure transparency and good accountability.
Members are always encouraged to keep time and any member who comes late fined 500/= Ug.shillings only.
the cycle of savings and lending is time bound only 12 months
all members have individual passbooks of which we use to track their savings ( shares bought) and loans acquired.
Members are encouraged to save through share purchase ( 1-5 shares at each meeting) however, value of the shares is determined by the group and the constitution ( each share is 1000/=)
Loans are made every after 4 weeks the loan fund also includes share-purchase money, loan service charges and fines. However, the length of a loan repayment term is between 4-12 weeks and the size of the loan is not more than 3 times the total value of shares a member has purchased.
when the cycle is about to come to an end no more loans are given out , and all outstanding loans repaid dividing of all assets ( total money at hand divided by the total number of shares bought by all group members through the 12 months /year