The InAugural Amasiko Banking System
Twice a week, the women of Amasiko have the opportunity to bring whatever small amounts they have been able to save, to the “Bank of Amasiko”.
The entire concept of “banking” or “savings” is very new to the Amasiko women and it has taken them a lot to trust in the system. Whatever they deposit is recorded in a ledger, kept by Miria, our Head Teacher, the Secretary of the Amasiko Women’s Committee, and one of the most respected people in the village of Kasenda.
The women are not only “saving up” for the period they decide, but this pool allows the women who bank with Amasiko, to borrow small amounts when they need it for emergencies. (Emergencies such as unexpected medical costs etc)
To encourage the women, Wilson donates 5000 UGX (Uganda Shillings) which is the equivalent to $2 AUD, (and considered a large amount) and this keeps the funds afloat as well as demonstrating that he believes in the system.