A loan of $475 helped to buy more bags of charcoal to sell to expand his business.

Fred's story

As they say, determination leads to destiny, and M. Fred is gaining momentum in his charcoal-selling business. Many people tend to undermine casual work but the 57-year-old married father of two children and two dependents has been able to earn a living through that business for twelve years.

Charcoal is commonly used here in Uganda as a form of energy in many homes that cannot purchase paraffin (kerosene), gas or electricity. Through the selling of charcoal Fred is able to earn 250,000 Ugandan shillings monthly as profits, though having drawbacks like transporting his products to bigger markets such as Kampala city.

With this loan, Fred hopes to expand into bigger markets. He says that he inherited his business from his father after his father’s death and works hard to ensure that he expands it further.

Loan details

Lenders and lending teams

Loan details