– For over a decade, Uganda has been a refuge for over 1.5 million displaced individuals fleeing conflict and persecution from neighboring countries. While this humanitarian gesture is commendable, it also presents an opportunity to integrate refugees into the Ugandan economy and promote self-reliance. FINCA Uganda has been at the forefront of this effort, fostering financial inclusion and economic empowerment among refugees through market-led interventions.

“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,” says Alice Lubwama, Grants and Business Development Manager of FINCA Uganda. These interventions aim to facilitate better integration of refugees into host communities, strengthen household resilience, stimulate economic activity, and increase household incomes.

FINCA’s financial literacy training has equipped over 5,240 refugees with the skills and knowledge to manage their finances effectively. “FINCA’s training has helped me to budget and save for the future,” said one refugee beneficiary. This training is crucial in enabling refugees to make informed financial decisions and improve their overall well-being.

The organization’s loan programs have also supported refugee entrepreneurship, providing access to capital for refugees to start or expand their businesses. To date, FINCA has disbursed over UGX 1.6 billion in loans to refugees, enabling them to establish sustainable income streams and support their families. These loans have not only improved refugees’ economic stability but also empowered them to contribute to the economic growth of their host communities.

“However, we recognize that much work remains to be done. 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,” says Lubwama.

FINCA’s initiatives have had a profound impact on the refugee community in Uganda.