300 Gulu youth get motorcycles

By FRANCIS EMORUT        
               
Over 300 youth from the northern district of Gulu have received motor-cycles to start boda-boda transport business to improve their lives.

The motor cycles were loaned by UWMFO Uganda a microfinance institution.

The youth were first trained in record keeping, customer care, entrepreneur skills and how to service their loans.

The youth who were in a jubilant mood first tested their bikes by riding through Gulu town and its suburbs which brought business to a standstill as on lookers cheered the youth.

The microfinance institution which started in 2000 by a group of 15 women with a capital of sh100, 000 has now attracted over 11,000 beneficiaries.

The board of governors of the institution, Christopher Acire urged the youth to provide customer care so that they are able to repay the loan.

The youth are expected to service their loan in a period of one year and three months.
Each bike costs sh3m.

Addressing over 5000 members of the microfinance institution at Gulu Public Primary School on Saturday, Acire informed the audience that over 1500 motorcycles have been given since 2006.

He said the purpose of giving motorcycles to the youth is to fight poverty which has engulfed many youth in the district.
Acire who is also a Member of Parliament of Gulu Municipality advised the youth and the residents to develop a culture of saving.

He explained to the audience that savings was vital in that one can put the savings for future investment solve emergency problems.

Sande Amone after receiving his motorcycle said he was going to treat his customers well and ensure that he keeps records of his earnings.

Another youth Churchill Okot said he was going to draw a plan on how to save the money so as to repay back the loan.
The finance institution has also aided women in accessing loans which has helped them to improve their lives.