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Wosenu's Story

From Ethiopia

Wosenu, 43, lives with his wife and 4 children. He is a founding member of Hagudenu Wuji RuSACCO, established in 2012 in Bora Kalo village – it currently has 89 members. He started with a monthly saving of ETB10 (30cents). After 12 months, he took his first loan of ETB1,000 (€30) and started a sheep fattening business buying three sheep. With successful repayment of his first loan, Wosenu took a second loan of ETB4,500 (€138) and increased his fattening business buying an ox with the new loan. He sold the ox and made a profit and further borrowed from the RuSACCO to expand his livestock. He now has “a new modern house, four cows, three oxen, and three horses”. His monthly savings have increased to ETB100 (€3) and two of Wosenu’s children have also started saving in the RuSACCO. He plans to continue increasing his monthly savings to increase his borrowing capacity to further expand his business and build his assets. He is grateful for “the proper understanding on the function and role of my RuSACCO from the different trainings provided by the project”.

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We all need an ally at some point in our lives. When we find one, it can make all the difference in the world. Wosenu’s story is one of the many good news stories from the Credit Union in Sierra Leone.