Today the Minister of State Microfinance, Caroline Okao Amali, launched the 2012 Citi Microentrepreneurship awards 2012 at the Citi Bank Office. The programme aims at promoting the effective role that microfinance plays in poverty alleviation and is organized in collaboration with AMFIU. The programme that started in 2006 in Uganda has seen over 129 entrepreneurs take home awards. According to Chinedu Ikwudinma, Citibank MD, Citi Foundation is committing $75,000 towards the micro entrepreneurship awards in Uganda. He further said that the 2012 awards are taking place in 28 countries including Uganda.
The goal of the program is to promote micro entrepreneurs and increase awareness of their financial services needs, in what is broadly known as microfinance. More importantly the aim of this initiative is to put the spotlight on local micro entrepreneurs who are helping to lift the economic fortunes of their communities, generating greater opportunities to bring capital into their developing economies. According to AMFIU ED, any client of an MDI, MFI or SACCO is eligible to compete for the prize whether they are a borrower, saver or a combination of both. Prizes will be awarded in categories including cash, plaques and certificates. He further said that entrepreneurs will go through a vigorous assessment process and winners will be announced in April 2013.
Microfinance institutions can nominate clients through filling application form that they return to AMFIU for assessment.