Financial Sector Deepening Uganda
Financial Sector Deepening Uganda is an independent not-for-profit company working with financial market actors to facilitate the development of a more competitive, robust, and inclusive financial market that meets the needs of everyone, especially the unserved and underserved.
FSDU, in partnership with the Mastercard Foundation, is implementing a Small and Micro Enterprises Recovery Fund to shorten the recovery journey of women- and youth-owned or operated businesses from COVID-19, complement the government of Uganda’s Small Businesses Recovery Fund, and build back the resilience of SMEs that employ millions of young people.
Micro, Small and Medium Enterprise Recovery Fund
Duration: 5 years (Oct 2021 – Sept 2026)
Financial Sector Deepening (FSD) Uganda is a Young Africa Works partner that availing funds to Savings and Credit Cooperative Organisations (SACCOs) and financial institutions like FINCA Limited Uganda, UGAFODE Limited Uganda, EFC Limited Uganda, and Pride Microfinance Limited Uganda. These institutions provide affordable loans to Micro and Small Enterprises that are led and owned youth and young women to recover from the adverse effects of the pandemic.
Services targeting youths:
Youth and women owned business can access a loan size of Minimum $ 26 (UGX 100,000) to $ 3,000 (UGX 10,000,000).
The Microfinance Institutions (MFIs) who offer loans to young entrepreneurs are strengthened through business disruptions, supply chain challenges, liquidity shortages, declining sales and profits among others. The MFIs then provide affordable loans to young entrepreneurs especially women whose enterprises were negatively affected by COVID -19,
Young entrepreneurs in Agriculture/agribusiness, Light manufacturing, Construction, Tourism, Health, Education, Trade, and Services (transport & warehousing) are prioritized as new business that demonstrate credit worthiness