The ACCF Coordinator, Rita Effah, and Program Officer, Emile Kouakou conducted a supervision mission to Uganda and Kenya from June 20 to 25 2022 for the Green Energy for Women and Youth Resilience project.
The mission aimed to engage key stakeholders including, financial service providers, sustainable energy companies, and energy product end-users in the sustainable energy value chain in both countries about the project results achieved so far.
Under the first output of the project focusing on access to climate financing, the team observed that the project contributed at increasing the access of Micro, Small and Medium Enterprises (MSMEs) to financial services with about 1,744 loans disbursed as of May 31, 2022, to young women and men representing a cumulative amount of $78,429 of which $49,448 were for women (63%).
Although this amount was well below the set target of $650,000, by the end of the project, it is expected that more loans will be made available to target beneficiaries as the project signs partnership agreements with additional FSPs.
“It has contributed to the refinement of our clean energy portfolio to better suit youth-led businesses.
Most importantly, the project has contributed to growth in our clientele through increased mobilization of consumers to take on more renewable energy products.”
Commented Mr. Forb Busingye, the Managing Director of Tujijenge, a Microfinance Company in Uganda
Additionally, the review of the project’s focus on building youth entrepreneurship skills included about 1,122 persons representing 60% of the target of 2,250 young men and women trained in both countries on basic financial management, accounting practices, and basic business models.
These trainees are working as sales agents and resellers in rural communities in both countries.
The Green Energy for Women and Youth Resilience project
The project is implemented by the AVSI Foundation in partnership with CIDR-PAMIGA, an organization that provides small businesses and households with easier access to markets, energy, finance, water, and sustainable agriculture.
The project is contributing to Uganda and Kenya’s transition to low carbon development and scaling up access to climate finance through the promotion of jobs and MSMEs in the sustainable energy value chain and by strengthening Financial Service Providers’ capacities to deliver sustainable energy finance, therefore improving the availability and accessibility of renewable energy products for last mile end users.