FINCA Uganda staff and clients celebrate 20 years of Village Banking
FINCA Uganda, the first FINCA Subsidiary launched on the African continent in 1992 is celebrating 20 years of providing life-changing financial services to both urban and rural clients throughout the country. So it was fitting that, as a show of appreciation, FINCA Uganda returned to communities in which it operates, especially its inaugural community of Jinja, by providing clients and their families with access to free health screenings and hands-on care.
So far about 10 of such events have been carried out at its branches in partnership with AAR Health Services, where they have provided, among other services, voluntary HIV/AIDs testing and counseling, body mass checkups, blood pressure testing, nutrition counseling, family planning methods and HIV/AIDs control measures, as well as general health consultations, all at no cost. The health screenings have been open to FINCA Uganda’s clients and their families as well as to entire communities.
FINCA Uganda’s Marketing Manager, Simon Ahimbisibwe, said that Jinja holds a special place in FINCA Uganda’s history as it was the location of the subsidiary’s first branch.
"At FINCA Uganda, we believe that a healthy body makes for healthy banking; that is why we brought these services to the people free of charge," Mr. Ahimbisibwe said. "We will continue to engage in such services that impact the lives of our clients positively, especially as these services are sometimes not easily accessed, mainly due to logistical challenges".
FINCA Uganda currently serves more than 54,400 clients through a wide variety of products and services including Village Bank Group Loans, Solidarity (Small Group) Loans, Individual Loans, Local Currency Loans, Savings, Money Transfers and Insurance. More than 3,000 Village Banking groups can be found throughout its service areas, and loans average $395. FINCA Uganda employs more than 570 men and women who mainly come from the local communities, and is recognized as one of the local financial services industry’s top employers.
FINCA Uganda holds the distinction of being the first Microfinance Deposit Taking Institution (MDI) to be licensed by the Ugandan Central Bank in 2004, and is able to offer services that include savings, loans and money transfers at all of its 27 branches country wide.
FINCA Uganda also holds the distinction as being one of FINCA International’s primary programs to pilot new products and services, and has successfully implemented ATM services, a solar energy loan product, and youth-focused savings programs including Smart Start and StarGirl. Both savings programs target youth aged 10-24, providing education about the importance of savings as well as additional life skills such as soap and candle making and other handicrafts.