Florence is very proud and happy that, thanks to FINCA loans, she was able to send her children to better schools and then on to university. She was able to build a larger house for her family and also build a small house for her ailing mother in her home village. Florence’s most ambitious plans now call for buying land to put up a commercial building so she can rent out retail space and continue to earn a living when she retires.
Products & Services
Facts about UgandaUganda is a bright spot in Africa. In the two decades since FINCA launched its Uganda program, the country’s poverty level has dropped by more than half: from 56 percent in 1992 to 24.5 percent in 2010. But while the economy continues to grow, unreliable electrical service, high energy costs, and an inadequate transportation infrastructure provide serious obstacles for low-income entrepreneurs seeking to build businesses and incomes.
FINCA Uganda is the country’s first regulated, deposit-taking microfinance institution. It provides diverse products for low-income clients: working capital, business and home improvement loans; four savings products; money transfers; health insurance. Hundreds of clients have benefited from FINCA’s solar energy loan product, which allows them to light existing businesses, ensuring longer hours of operations, as well as opening new businesses such as mobile phone charging stations. Use of the products in homes has greatly improved the health of families who no longer need to burn kerosene for light.
1 Information is updated on a monthly basis.
2 Population lacking account at formal financial institution.