{"id":66817,"date":"2026-06-03T16:04:24","date_gmt":"2026-06-03T20:04:24","guid":{"rendered":"https:\/\/finca.org\/finca-canada-announces-opportunity-rising-increasing-economic-opportunities-for-young-entrepreneurs-in-tanzania-and-uganda"},"modified":"2026-06-03T16:09:55","modified_gmt":"2026-06-03T20:09:55","slug":"finca-canada-announces-opportunity-rising-increasing-economic-opportunities-for-young-entrepreneurs-in-tanzania-and-uganda-2","status":"publish","type":"post","link":"https:\/\/finca.org\/en-gb\/finca-canada-announces-opportunity-rising-increasing-economic-opportunities-for-young-entrepreneurs-in-tanzania-and-uganda-2","title":{"rendered":"FINCA Canada Announces Opportunity Rising: Increasing Economic Opportunities for Young Entrepreneurs\u00a0in Tanzania and Uganda\u00a0"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>A five-year program funded by the Government of Canada&nbsp;will&nbsp;equip&nbsp;50,000&nbsp;youth&nbsp;with the skills, tools, and financing to build sustainable livelihoods and resilient futures.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">East Africa&nbsp;is home to one of the youngest populations in the world,&nbsp;where&nbsp;millions of&nbsp;people under 30 are entering a workforce that&nbsp;isn\u2019t&nbsp;generating enough jobs to&nbsp;employ them.&nbsp;<a href=\"https:\/\/finca.org\/en-ca\/opportunity-rising\" target=\"_blank\" rel=\"noreferrer noopener\">Opportunity Rising<\/a>&nbsp;is&nbsp;FINCA\u2019s response&nbsp;to this&nbsp;challenge. The&nbsp;ambitious&nbsp;five-year initiative&nbsp;\u2014&nbsp;launched in&nbsp;2025&nbsp;and&nbsp;funded by&nbsp;<a href=\"https:\/\/international.canada.ca\/en\/global-affairs\" target=\"_blank\" rel=\"noreferrer noopener\">Global Affairs Canada<\/a>&nbsp;(GAC)&nbsp;\u2014&nbsp;will&nbsp;equip 50,000 youth in Tanzania&nbsp;and Uganda&nbsp;with the&nbsp;much-needed&nbsp;skills, training,&nbsp;and&nbsp;capital&nbsp;to&nbsp;start and grow their own business and&nbsp;build&nbsp;stable,&nbsp;resilient&nbsp;livelihoods.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Twenty-eight-year-old Gloria&nbsp;is one of&nbsp;the&nbsp;young entrepreneurs&nbsp;participating&nbsp;in the program. She runs&nbsp;a&nbsp;bustling&nbsp;shop in downtown Kampala, Uganda, selling handbags she imports directly from China.&nbsp;Her products are in&nbsp;high&nbsp;demand, and she spends her days managing a&nbsp;constant&nbsp;stream of customers and orders.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Keeping her shelves stocked&nbsp;used to be&nbsp;a constant struggle. To&nbsp;keep up with demand, she turned to moneylenders&nbsp;who&nbsp;supplied&nbsp;fast&nbsp;cash&nbsp;\u2014&nbsp;but&nbsp;at&nbsp;punishing&nbsp;rates&nbsp;with&nbsp;daily repayments. \u201cI wasn\u2019t working for myself anymore,\u201d she said. \u201cI was working for the lender.\u201d&nbsp;&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Everything changed the day a FINCA loan officer&nbsp;offered her something different: a loan&nbsp;designed&nbsp;for&nbsp;young&nbsp;entrepreneurs, without traditional collateral requirements and&nbsp;instead&nbsp;based on&nbsp;strong business performance.&nbsp;Within three days,&nbsp;Gloria&nbsp;secured&nbsp;financing&nbsp;that&nbsp;freed her from&nbsp;short-term debt&nbsp;cycles and&nbsp;gave her room to plan and grow.&nbsp;\u201cMy goal is no longer just survival,\u201d she said. \u201cIt\u2019s stability.\u201d&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The hurdles Gloria faced&nbsp;are common,&nbsp;and they are exactly&nbsp;what&nbsp;Opportunity Rising&nbsp;is&nbsp;addressing.&nbsp;Through vocational training, tailored financial services, and&nbsp;partnerships with local businesses, the program will&nbsp;give&nbsp;more than 50,000&nbsp;young people in Tanzania&nbsp;and Uganda&nbsp;\u2014&nbsp;60% of them women&nbsp;\u2014&nbsp;the&nbsp;tools&nbsp;and support they need to&nbsp;build&nbsp;brighter&nbsp;futures.&nbsp;<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>A Continent of Potential,&nbsp;Hungry for Opportunity<\/strong>&nbsp;<\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">Across Africa,&nbsp;a&nbsp;new&nbsp;generation&nbsp;is&nbsp;stepping into adulthood ready to work,&nbsp;learn, and&nbsp;forge&nbsp;their own paths forward. In Tanzania&nbsp;and Uganda,&nbsp;<a href=\"https:\/\/www.unicef.org\/tanzania\/young-people-engagement-priority-tanzania\" target=\"_blank\" rel=\"noreferrer noopener\">more than 70% of the population is under 30<\/a>,&nbsp;amounting&nbsp;to&nbsp;over 85 million&nbsp;youths&nbsp;who have&nbsp;the energy and ambition to succeed, but&nbsp;encounter&nbsp;limited&nbsp;options&nbsp;for&nbsp;stable employment.&nbsp;&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The challenge is structural:&nbsp;Economies across the region are&nbsp;<a href=\"https:\/\/fee.org\/articles\/the-real-reason-young-people-cant-get-jobs-in-africa\/\" target=\"_blank\" rel=\"noreferrer noopener\">not creating enough formal jobs<\/a>&nbsp;to absorb the millions&nbsp;entering&nbsp;the workforce each year, leaving most young&nbsp;people to&nbsp;rely on informal work or self-employment.&nbsp;For young women, the opportunities&nbsp;are&nbsp;even&nbsp;fewer.&nbsp;In Uganda,&nbsp;<a href=\"https:\/\/www.ubos.org\/wp-content\/uploads\/publications\/11_2022NLFS_2021_main_report.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">20% of young women are unemployed<\/a>, and in Tanzania,&nbsp;<a href=\"https:\/\/www.nbs.go.tz\/nbs\/takwimu\/labour\/2020_21_ILFS_Analytical_Report.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">young women are 50% more likely to be unemployed than young men<\/a>.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">With formal jobs&nbsp;in such short supply,&nbsp;many African youths turn to entrepreneurship out of necessity. But&nbsp;growing a business&nbsp;requires&nbsp;capital, skills, and&nbsp;market access&nbsp;\u2014&nbsp;none of which are easy to come by. And&nbsp;a&nbsp;lack of collateral and credit history puts traditional financing out of reach.&nbsp;Confronted with&nbsp;so many barriers, even the most&nbsp;determined&nbsp;young entrepreneurs struggle to&nbsp;support themselves.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Opportunity Rising recognizes that unlocking the potential of this generation is critical to&nbsp;East Africa\u2019s future.&nbsp;When young people have the tools and resources to work, earn, and build stable livelihoods,&nbsp;entire communities&nbsp;benefit&nbsp;from higher incomes, lower unemployment, and&nbsp;more resilient economies.&nbsp;<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>A Market-Based Approach to Empowering&nbsp;Africa\u2019s&nbsp;Youth<\/strong>&nbsp;<\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">The&nbsp;Opportunity Rising&nbsp;initiative&nbsp;brings together&nbsp;local businesses, training providers, and banking&nbsp;partners&nbsp;to create lasting pathways to income and employment for&nbsp;young&nbsp;entrepreneurs&nbsp;like Gloria.&nbsp;&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Through&nbsp;<a href=\"https:\/\/finca.co.tz\/\" target=\"_blank\" rel=\"noreferrer noopener\">FINCA&nbsp;Tanzania<\/a>&nbsp;and&nbsp;<a href=\"https:\/\/finca.ug\/\" target=\"_blank\" rel=\"noreferrer noopener\">FINCA&nbsp;Uganda<\/a>,&nbsp;participants&nbsp;open accounts and can access loans designed&nbsp;specifically&nbsp;for young borrowers \u2014 for many, their first experience with formal financial services. In Uganda, this includes the Youth Empowerment&nbsp;Loan that Gloria received, with flexible requirements and repayment terms tailored to&nbsp;small-business cash flows.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In addition to responsible capital, participants receive vocational training&nbsp;to&nbsp;learn&nbsp;trades and small-scale production in high-demand sectors. FINCA&nbsp;also&nbsp;provides financial literacy&nbsp;education&nbsp;through a mix of in-person and mobile channels&nbsp;to help them manage&nbsp;income, savings, and borrowing&nbsp;decisions.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For young women in particular,&nbsp;Opportunity Rising&nbsp;works to remove&nbsp;the&nbsp;most&nbsp;common barriers that stand in their way:&nbsp;connecting&nbsp;them to&nbsp;financing&nbsp;they can access and control privately, pairing&nbsp;them with business opportunities that fit their realities, and ensuring&nbsp;that&nbsp;safeguarding and anti-harassment systems&nbsp;are built in. It also puts them in contact with successful women mentors and role models.&nbsp;<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Year One Results Point to&nbsp;Promising&nbsp;Momentum<\/strong>&nbsp;<\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">In its first year,&nbsp;Opportunity Rising&nbsp;has already delivered measurable results:&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>3,400+&nbsp;young people&nbsp;in Tanzania and Uganda&nbsp;have accessed&nbsp;FINCA\u2019s&nbsp;financial services,&nbsp;nearly half&nbsp;of them young women.&nbsp;<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>3,300+&nbsp;youth&nbsp;have launched or grown their&nbsp;businesses&nbsp;through the&nbsp;program\u2019s&nbsp;support, and their&nbsp;enterprises have contributed to the creation of 4,000+&nbsp;additional&nbsp;jobs.&nbsp;<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>3,900+&nbsp;youth have received financial literacy training.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">The initiative&nbsp;also works to&nbsp;strengthen the systems that&nbsp;will&nbsp;support&nbsp;young entrepreneurs for years to come.&nbsp;FINCA is expanding&nbsp;mobile and agent-based access&nbsp;to&nbsp;help more youth access capital, while&nbsp;aligning&nbsp;vocational training more closely with sectors where demand exists.&nbsp;Ongoing research and feedback loops ensure that financial services, training, and partnerships continue to adapt to the realities of young people\u2019s lives.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Gloria\u2019s experience&nbsp;shows&nbsp;what these results look like in practice. With financing&nbsp;designed around her business needs,&nbsp;for the first time, she&nbsp;can&nbsp;maintain&nbsp;inventory,&nbsp;keep pace with what her customers want, and make decisions with&nbsp;growing&nbsp;confidence. What was once a cycle of short-term borrowing has&nbsp;evolved into&nbsp;a sustainable&nbsp;business with a real future.&nbsp;\u201cI\u2019m not just selling bags anymore,\u201d Gloria said proudly. \u201cI\u2019m building something that will last.\u201d&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Opportunity Rising, an initiative led by FINCA Canada and backed by Global Affairs Canada (GAC), is creating new pathways to economic opportunity for young people in Tanzania and Uganda.<\/p>\n","protected":false},"author":401,"featured_media":66805,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[90,401],"tags":[5,10],"class_list":["post-66817","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-insights-en-ca","category-insights-en-gb","tag-financial-inclusion","tag-womens-empowerment"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>FINCA Canada Announces Opportunity Rising: Increasing Economic Opportunities for Young Entrepreneurs\u00a0in Tanzania and Uganda\u00a0 | FINCA<\/title>\n<meta name=\"description\" content=\"Opportunity Rising, an initiative led by FINCA Canada and backed by Global Affairs Canada (GAC), is creating new pathways to economic opportunity for young people in 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