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Sh80m staked for MFI competition

By Vision Reporter

Added 9th July 2008 03:00 AM

OVER sh80m is to be given out to the best entrepreneur who borrows or saves money with micro-finance institutions (MFI), the micro-finance state minister has disclosed.

OVER sh80m is to be given out to the best entrepreneur who borrows or saves money with micro-finance institutions (MFI), the micro-finance state minister has disclosed.

By Ibrahim Kasita

OVER sh80m is to be given out to the best entrepreneur who borrows or saves money with micro-finance institutions (MFI), the micro-finance state minister has disclosed.

Caleb Akandwanaho (Salim Saleh) said over 300 MFI beneficiaries would participate in the third Citi Micro Entrepreneurship Awards competition.

He said the winners would be rewarded at the Kampala Serena Hotel in November.

The awards are aimed at recognising extraordinary contributions individual micro-entrepreneurs have made to the economic stability of their families and their communities.

Any client of an MFI, micro deposit-taking institution and savings and credit cooperative is eligible to compete.

The financial institution should identify a maximum of two candidates to compete for the prizes.

Salim Saleh advised journalists to participate in the awards to boost their economic levels.

The awards are supported by Citigroup in collaboration with the Association of Microfinance Associations in Uganda.

Each application will be evaluated under business growth, employment creation, sustainability, financial discipline and family impact criteria.

After reviewing all the applications, shortlisted entrepreneurs will be visited by the evaluation panel to learn more about the business, entrepreneur and their family.
The deadline for submitting applications is July 31.

Last year’s awards saw 26 micro entrepreneurs win the prizes like gold, silver and cash.

Sh80m staked for MFI competition

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