FINCA Uganda

Kiva conducts regular, ongoing monitoring of all Lending Partners, but only posts status updates here in response to relevant, major changes at the partner.

Partner description:

FINCA Uganda Limited (MDI) was incorporated in Uganda in 1992 under the Uganda Companies Act 2012. In 2004, the company was licensed as a Microfinance Deposit-taking Institution by The Bank of Uganda under the Micro Finance Deposit-taking Institutions Act, 2003. The company is majority-owned by the FINCA Microfinance Coöperatief U A, which also has other subsidiaries in different parts of the world. FINCA Uganda’s mission is to alleviate poverty through lasting solutions that help people build assets, create jobs, and raise their living standards.

A unique lending approach:

Kiva is working with FINCA Uganda specifically to finance their program to lend to refugees. FINCA Uganda's exposure to refugee lending began as they were part of the RISE Project. The RISE( “Refugees: Innovation, Self-reliance and Empowerment”) project is an Opportunity International UK seed-funded initiative, implemented through FINCA Uganda Limited (FUL) and Opportunity Bank Uganda Limited (OBUL) as local partners. Under this project, FINCA Uganda intends to introduce a Refugee Individual Loan product that will deliver financial services to any legally registered Refugee who wishes to borrow. This aligns with FINCA Uganda's overall strategy of financial inclusion. To make this loan product accessible to the target market, minimal collateral will be required from Refugees as a form of commitment to their loan obligations. The bank plans to start working with Refugees from the Kiryandongo settlement with the end goal to generate jobs and business opportunities for the refugees.