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Bunyaruguru Savings And Credit Co-Operat
Greetings from Uganda! This is Byaruhanga (holding on to the solar lamp). He is the Manager of Bunyaruguru Savings and Credit Co-operative (SACCO). With him in the photo are members of Bunyaruguru SACCO's management. Bunyaruguru SACCO is one of the oldest Savings and Credit Co-operatives in the Bushenyi district of Western Uganda and has been providing financial services to members of the local community for over 13 years. The majority of Bunyaruguru SACCO's 3,300 members are low-income farmers who grow bananas, beans, nuts and maize. As well as providing financial services, Bunyaruguru SACCO is interested in being able to provide life-enhancing products to its members. Only 2% of houses in the local area have access to electricity, which means that many of the SACCO members spend a large portion of their income on firewood and kerosene to meet their energy needs. Bunyaruguru SACCO has therefore requested a loan to buy solar lights and energy-efficient cookstoves to sell to its members.

Additional Information

More information about this loan

Kiva funding will be used to help local organizations buy improved cookstoves in Uganda. These organizations include savings and loan institutions and community-based groups that will distribute cookstoves to rural households to help them save on energy costs and reduce indoor pollution from cooking fires. To build in sufficient time for UpEnergy to import products from abroad, all Kiva loans will likely have terms of four months to a year. Exact loan terms will vary based on product providers.
 
This Kiva loan will be used to provide borrowers with needed goods or services, as opposed to cash or financial credit.

About UpEnergy

UpEnergy delivers high quality clean energy appliances to customers in the developing world at affordable prices. Carbon credit revenues enable UpEnergy to sell high quality cookstoves at subsidized prices, making them a more affordable and attractive option for the people who need them most.

Kiva loans are used to help UpEnergy expand distribution of its cookstoves through community-based organizations and retailers in Uganda. With this flexible, zero-interest capital, UpEnergy extends in-kind loans to organizations to purchase inventory for distribution in rural areas.

About Uganda

  • $1,500
    Average annual income
  • 106
    View loans »
    Uganda Loans Fundraising
  • $28,282,425
    Funds lent in using Kiva
  • 2,517.0
    Uganda Shillings (UGX) = $1 USD

Success!! The loan was 100% repaid

A loan of $775 helped Bunyaruguru Savings And Credit Co-Operat to purchase energy-efficient cookstoves and solar lights to sell to its members.
100% repaid
Repayment Term
7 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 16, 2013
Listed
Dec 7, 2013
Currency Exchange Loss:
Possible
Ended:
Jul 4, 2014