Access to affordable credit stirring and spurring businesses to success in WestNile
His rise to financial independence started in April 2021 when he was introduced to Nile Microfinance Ltd agriculture value chain loans at a monthly interest rate of 2.5% – which is several times cheaper than the average Ugandan moneylender in any town. Far more important, before picking even a shilling, Amasiku underwent training on bookkeeping and how to run a business professionally, something Ugandan entrepreneurs are highly deficient in.
By the time Amasiku borrowed UGX1.5million to scale up his value addition enterprise, he was equipped to succeed. He expanded his business by buying five other mills. Since October 2021, he rents out the machines and earns UGX90,000 daily. He has mastered the art of the grinding mill and he now provides repair services at a fee of about UGX5000-UGX10000 to boost his income.