Mrs Prize and her Husband Mr.Bahati Wence in their Irish potato garden with the causual worker . They also used part of the loan to buy improved poultry ( Saso)
Impact of the Loan Program:
The loan program from TCP Global, through Caritas Kabale Diocese, has demonstrated a transformative impact on individuals’personal growth and development by increasing household income and enabling business development in the underserved communities and rural-urban settings. Below are some of the compelling narratives that underscore the significance of opportunity and resilience in improving lives.
The Bahati Family
Bahati Wence and his wife, Tumuranye Prize, members of the Kanaba Bahingi Tutungukye group, once faced significant financial hardships including limited income. With a family to support, their situation was further exacerbated by the lack of access to affordable financial services in their community in Kabale. Local financial institutions offered loans at prohibitively high interest rates, leaving families like theirs with few viable options.
Determined to overcome these challenges, Bahati and Tumuranye sought assistance from TCP Global, where they were provided with financial literacy training facilitated by Caritas staff. The training covered essential topics, including budgeting, investment strategies, and risk management, which equipped them with the knowledge and confidence needed to make informed financial decisions.
Following the training, the couple secured a tailored loan of 700,000 UGX from TCP Global. With careful planning, they invested the loan in a high-potential agricultural venture. They purchased three 80-kilogram bags of quality Irish potato seeds for 600,000Ugx at 200,000 UGX each bag and allocated 100,000 UGX toward fungicides to protect their crop from blight, a common fungal disease in the region. Drawing on their prior experience in farming and the insights gained during the financial literacy training, they planted the seeds and diligently cared for their crop.
Their efforts paid off when they harvested an impressive 16 bags of Irish potatoes, which they sold at 150,000 UGX per bag, earning a total of 2,400,000 UGX. From this venture alone, they made a profit of 1,700,000 UGX—a remarkable return on their initial investment.
With their newfound financial stability, Bahati and Tumuranye reinvested their profits in various ways. They expanded their agricultural ventures by purchasing additional quality Irish potato seeds and renting more land for the next planting season. Diversifying their income streams, they also invested in improved poultry breeds. These birds were sold during the festive season, yielding substantial profits that further boosted their financial position.
The couple’s success not only transformed their family’s circumstances but also positively impacted their community. By hiring two local youths to assist with farming activities, they created employment opportunities that provided much needed income for others in their village. Additionally, the profits enabled them to rehabilitate their home, ensuring better living conditions for their family.
Reflecting on their journey, Bahati shared, “The financial literacy training and the loan from TCP Global gave us the tools and resources we needed to change our lives. We now have hope for the future and a plan to grow even further.”
Looking ahead, Bahati and Tumuranye are committed to building on their achievements. They plan to scale up their agricultural ventures, explore modern farming techniques, and continue diversifying their investments. Their story serves as an inspiration to others in their community, demonstrating how access to affordable financial services, combined with knowledge and hard work, can break the cycle of poverty.
This success story highlights the transformative power of partnerships like those between Caritas, TCP Global, and grassroots communities. It is a call to action for organizations and individuals to invest in programs that empower families and foster sustainable development. As Bahati and Tumuranye’s journey shows, with the right support, even the most significant challenges can be turned into opportunities for growth and prosperity.