Supporting financial inclusion for refugees in Uganda

In November 2019, the Swedish International Development Cooperation Agency (Sida), the United Nations High Commissioner for Refugees (UNHCR), and the Grameen Crédit Agricole Foundation launched a three-year program to promote access to financial and non-financial services for refugees and host communities in Uganda. This is a first-of-its-kind program designed to incentivize microfinance investors and microfinance institutions to expand their financial services to refugees.

Within this framework, the Grameen Crédit Agricole Foundation is responsible for managing technical assistance and supporting microfinance institutions so that they can develop a range of products and services adapted to refugee populations. The Foundation also grants loans to institutions to provide them with the resources needed to lend to refugees and host communities.

UGAFODE: First institution funded

The first institution supported under the program is UGAFODE Microfinance Limited. With a €540,000 loan and technical support, UGAFODE opened a branch in the Nakivale refugee camp in Isingiro district, which will help strengthen the resilience and self-reliance of refugees in host communities.

For UGAFODE, this program follows a successful pilot financial inclusion project for refugees in Kampala. Thanks to the support provided through the program and the loan from the Grameen Crédit Agricole Foundation, thousands of refugees will be able to access credit and money transfer services.

Refugees will also receive training in business management, which will provide them with essential skills such as developing business plans, financial management, pricing and marketing.

Funding for other microfinance institutions is currently being explored as part of this program to support refugees and host communities. In total, the program is expected to provide access to financial services and training to nearly 100,000 Ugandan refugees and host communities, including 70,000 women. The project will support the creation and development of small businesses in sectors such as agriculture, crafts, catering, and trade.

For more information about the program, Click here.