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FINCA Uganda intensifies efforts to support small business owners and cooperatives

Andree Simon, President and CEO of FINCA International, and James Onyutta, CEO of FINCA Uganda, discuss FINCA’s intensified efforts to improve the lives of small business owners and cooperatives with a range of support services.

FINCA Uganda has announced the expansion of its services to address poverty and promote financial inclusion, introducing a series of new initiatives aimed at supporting small business owners and cooperatives. The new services, which include financial education, technical assistance and employment diversification, are designed to complement FINCA Uganda’s existing microfinance offerings and provide a more holistic approach to addressing poverty and financial exclusion.

FINCA Uganda’s microfinance services are complemented by financial education, technical assistance and employment diversification. Uganda is a hub of microfinance innovation, according to FINCA. The organization is currently testing several new ideas across the country, including a project that combines financial education, job training, and the creation of early childhood development centers to support refugee communities and Ugandan nationals.

FINCA Uganda is proud to extend its impact to some of Uganda’s most marginalized communities and recently extended its reach beyond Ugandan nationals to refugees. While microfinance remains at the core of FINCA, the expanded strategy reinforces FINCA Uganda’s commitment to serving people at the bottom of the economic pyramid.

Since its founding in 1984, FINCA has focused on empowering women to achieve financial independence and create a prosperous future for themselves and their families. FINCA has long offered personalized financial products and financial education training. In Uganda alone, the organization has supported over 530,000 people and their families and built a client base of 150,000 clients, 45.5% of whom are women.

FINCA remains committed to promoting gender equality through specific initiatives and programs designed to address the unique needs and challenges faced by women entrepreneurs. By continuing to expand its reach and strengthen its offerings, FINCA aims to foster sustainable economic growth and empower women to build brighter futures for themselves and their communities.

“We want Uganda to be the centerpiece in defining the future of microfinance and challenging the old way of operating,” FINCA International President Andree Simon said at a press conference held at the FINCA Uganda head office. “While microfinance is instrumental in creating opportunities for small business owners, its impact can be further amplified when combined with other types of support.”

FINCA Uganda bases product development on customer feedback and input, optimizing its services to create an excellent customer experience. The bank has also invested heavily in technology that expands access and convenience for its customers.

By increasing access to credit for refugees, women and people in agricultural areas and combining that activity with other support, FINCA is strengthening its ability to impact low-income communities. With its expanded focus, FINCA Uganda is poised to have an even greater impact on the lives of small business owners and cooperatives, promoting sustainable economic growth and self-reliance for generations to come.