Over 1.5 million refugees live in Uganda, giving it the highest population of refugees in Africa. Although Uganda has some of the most progressive refugee policies in the world–such as allowing refugees to work and own property, many refugees in Uganda still face barriers that hinder their ability to build a pathway out of poverty. This is why FINCA works to support Ugandan nationals as well as refugees in Uganda seeking a brighter future as well.
How FINCA is Making an Impact
According to FINCA Uganda’s Alice Lubwama, “Over the years, we have actively worked to foster financial inclusion and economic empowerment among refugees. By collaborating closely with stakeholders, including the Government of Uganda, international NGOs, and local authorities, FINCA has implemented market-led interventions in key regions such as West Nile, Kiryandongo, Mubende and urban Kampala.”
FINCA’s continued efforts have equipped over 5,200 refugees in Uganda with financial literacy training. The trainings allow them to make informed financial decisions and to manage their finances effectively. According to one beneficiary, “FINCA’s training has helped me to budget and save for the future.”
In addition to financial literacy training, FINCA Uganda’s loan program has disbursed over $400,000 USD to enable refugees to start or expand their businesses. These loans improve refugees’ economic stability and allow them to contribute meaningful economic growth within their host communities as well.
“When FINCA Uganda introduced its program offering financial services to refugees, I saw an opportunity not only for my own advancement but also for the empowerment of my fellow refugees within the community,” said Ugandan refugee Hakim.
The Resilience of Refugees in Uganda
One refugee who has felt the incredible impact of FINCA’s loan programs is Hayat Abdul Karim Majid.
Hayat was born in western Sudan and fled her home due to the War in Darfur. Hayat, her husband and their children moved around for several years before finding a new home in a Kiryandongo refugee settlement in Uganda.
In Kiryandongo, Hayat and other refugees like her received land, shelter, and support from Uganda’s government and international aid agencies. While her life improved immensely, Hayat still dreamed of providing an even better life for her four children. To achieve this dream, she and her husband decided to build a small shop to sell basic grocery items as well as Hayat’s own hand-mixed perfume.
To grow her new small business to greater heights, Hayat took a loan from FINCA to make investments and to buy more stock. Shortly afterwards, Hayat and her husband were able to open a restaurant across the street. Later, they opened a third business selling charcoal.
Through FINCA refugee loans, Hayat was finally able to support her family. And as Hayat has repeatedly told her FINCA loan officer, “I took the loan [from FINCA] because of my children. I need my children to be happy. I need my children to learn in very good schools and maybe one day become doctors.”
A Hopeful Future for Refugees
Hayat was FINCA Uganda’s first client in a pilot program developed specifically for refugees. Since then, FINCA has expanded the program throughout Uganda and replicated it elsewhere in the FINCA network. All told, the loans are impacting the lives of thousands of refugees around the world.
While FINCA has made monumental steps to empower refugees just like Hayat, there is still work to be done. According to Alice Lubwama, “The foundations we have laid provide a robust platform for further expansion and deeper financial inclusion for refugees. By continuing to support and invest in these programs, we can help build a future where refugees are not just surviving but thriving, contributing to and benefiting from the economic prosperity of their host communities.”
Your support for FINCA today will help us make this dream become a reality.
