FINCA helps Ugandans living in poverty access financial services and clean energy products to improve the quality of life for themselves and their families.
$30.9 LOAN PORTFOLIO
202,580 BRIGHTLIFE LIVES IMPACTED
2 FINCA VENTURES INVESTEES
1992 YEAR FOUNDED
With a clean cookstove from FINCA’s BrightLife program, Jane Nakintu doesn’t have to worry about keeping her young grandchildren healthy.
Individual Loans, Village Banking Loans, Small Group and Solidarity Loans, Rural and Agriculture, Microfinance Energy, Savings, Insurance, Remittances and Money Transfer, Energy
Uganda’s poverty level has dropped by more than half over the last 20 years and is currently at 20 percent. 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. In addition, 73 percent of the population is not connected to the electrical grid. These families rely on harmful kerosene, charcoal and firewood to light their homes and to prepare meals.
Uganda, along with much of sub-Saharan Africa, is on the verge of a crisis. By 2035, the International Monetary Fund estimates the number of Africans joining the working age population will exceed the rest of the world combined. To fill this surge, 18 million new jobs will have to be created each year for the next 20 years across sub-Saharan Africa. In the meantime, Ugandans rely on the informal sector for a chance to earn a living. In addition, access to basic services, like energy, water and sanitation, education, health care and agriculture, is often inadequate.
When poor people have access to financial services and life-enhancing products, they can earn more, build their assets, create jobs and cushion themselves against external shocks. Since 1992, FINCA has been helping thousands of Ugandans improve their lives. FINCA offers financial services, such as loans, savings and microinsurance throughout the country. In addition, FINCA’s BrightLife program brings clean energy products, like solar lighting and improved cookstoves, to poor and off-grid Ugandan families. And, through our FINCA Ventures initiative, we’re supporting access to a range of life-enhancing basic service products.
21.4% LIVING BELOW POVERTY LEVEL 2
$1,868 ANNUAL PER CAPITA INCOME 3
41% FINANCIALLY EXCLUDED 4
Plot 11 A Acacia Avenue
+256 312 227 800
1Information is updated on an annual basis
2Poverty headcount ratio at national poverty lines (% of population)
3GDP per capita, PPP (current international $)
4Adult population lacking account at a formal financial institution