Pearl Bank offers one-percent loans to over 500 Amolatar village savings groups

24 September 2026, 10:15 am

By Odur Alphonce

More than 500 Village Savings and Loans Association (VSLA) groups from the 16 sub-counties and town councils in Amolatar District are set to benefit from loans offered by Pearl Bank at an interest rate of just one percent.

The initiative was established with funding from Rotary International USA through the Ubuntu Mali Foundation. It aims to promote financial inclusion and support women and community members engaged in small businesses.

Speaking during a training on financial inclusion and Wendi programmes held at Grandis Hotel in Amolatar Town, Hon. Carolyn Amali Okao, the Executive Director of Ubuntu Mali Foundation, said the organisation has been forming and training savings groups in different parishes since 2021.

Amali, who is also the former State Minister for Microfinance, former Amolatar District Woman Member of Parliament and current Chairperson of the Amolatar District Women’s Council, said the groups have been provided with savings kits and are performing well.

She added that the groups undergo annual audits conducted by auditors from Tanzania, Rwanda and Bangladesh to ensure accountability and transparency.

According to Amali, Rotary International USA provided funds through Pearl Bank to enable the groups to access loans at an interest rate of one percent. She said the money would help members invest in businesses and improve the welfare of their families.

“Members will be able to use these loans to start and expand businesses that can develop their homes and improve their livelihoods,” Amali said.

Kamilo Olwit, the National Resistance Movement chairperson for Amolatar District, commended Amali for mobilising funds to empower women in the district. He said investing in women was an effective way of improving household incomes and community development.

Abdala Aziz Epalat, the Pearl Bank Manager for SACCOs, said the bank had significantly expanded its services and now operates 59 branches across Uganda, supported by more than 14,000 Wendi agents.

Aziz disclosed that Pearl Bank recorded a profit of Shs47 billion last year and projected profits of Shs65 billion this year.

Margret Olul, who represented the Amolatar District chairperson, applauded Pearl Bank for training women in financial literacy. She noted that a lack of a strong saving culture remains a major challenge in Uganda.

Olul urged the participants to share the knowledge acquired during the training with members of their communities.

Following the training, the participating groups are expected to receive loans through the programme at an interest rate of one percent.