FINCA’s Holistic Approach to Ending Poverty

Robert Turusime with his cows.

Since our founding in 1984, FINCA has been on a mission to end global poverty. And today, 40 years later, FINCA remains rooted in this commitment. However, to effectively address the multifaceted nature of poverty, we must fight its various complex factors through a holistic approach. As we move forward through our fourth decade of addressing poverty by targeting the unique needs and challenges of our clients, we are also expanding our offerings so each and every individual can reach their full potential.

Across our network, FINCA is constantly dreaming up innovative initiatives and programs to best target our clients’ pain points. And without exception, FINCA Uganda is leading the charge within the FINCA network in being the center of microfinance innovation.

FINCA Global CEO Andrée Simon and FINCA Uganda CEO James Onyutta sit on a speaking panel in Uganda.

Advancing Our Holistic Approach in Uganda

Through the years, FINCA Uganda has solidified its efforts in improving the lives of people in poverty by providing a variety of services to individuals at the bottom of the economic pyramid. In Uganda alone, FINCA has supported over 530,000 individuals and their families and has built a customer base of 150,000 clients–45.5% of whom are women. As of recently, to further extend our reach, FINCA Uganda is intensifying these efforts through a multitude of new initiatives to empower the most marginalized communities including women, refugees, and people in rural areas.

During a recent press conference held in Kampala, Uganda, FINCA Global CEO Andrée Simon and FINCA Uganda CEO James Onyutta delved into the importance of complementing access to finance with other forms of support including financial education, technical assistance, and employment diversification. According to Andrée Simon:

While microfinance is critical to creating opportunity for small entrepreneurs, its impact can be further magnified when combined with other types of support. That is why we are diversifying our offerings and partnering with other institutions that can provide additional services that provide holistic support to our customers.

To further build momentum behind our efforts in uplifting small entrepreneurs into successful futures, FINCA Uganda has unveiled two blooming partnerships with local microfinance institutions including PHB and Opportunity Bank. Through this new project, FINCA Uganda not only aims to support Ugandan nationals but bring refugees out of poverty as well through a holistic approach involving financial education, employment training, and the creation of Early Childhood Development centers.

FINCA Global CEO Andrée Simon speaking about our holistic approach to microfinance innovation in Uganda.

Reaching Beyond Uganda’s Borders

While microfinance remains at the core of our mission, FINCA Uganda’s holistic approach opens up a new realm of opportunity and future growth for the entirety of FINCA’s global network and the communities we serve. As Andrée Simon stated:

Uganda provides FINCA with the opportunity to develop new products and services that can then be deployed around the world. We want Uganda to be the centerpiece of defining the future of microfinance and challenging the old way of operating.

As the complex nature of poverty is forever changing, FINCA works to match the problem with innovative and sustainable solutions. And as we continue integrating our holistic approach throughout Uganda and beyond, we aim to redefine microfinance to fulfill our mission of ending global poverty.