Uganda

Public Awareness Activities for the Financial Sector in Uganda

The Bank of Uganda (BoU) is carrying out a series of public awareness activities supporting three key areas for developing the Ugandan financial sector:

(i) Public awareness of the Credit Reference System (CRS);

(ii) Public awareness of the Deposit Protection Fund (DPF); and

(iii) Financial literacy linked to the 2016 World Savings Day (WSD).

The objectives of the upcoming project are to support the development and implementa-tion of above key public awareness activities as follows:

Agricultural and Rural Finance (AGRUFIN) in Uganda

While the financial sector in Uganda at large has experienced considerable growth in recent years, financing for rural areas and agriculture remains limited: only 11% of private sector credit is extended to the agricultural sector and only 15% of the adult population in rural areas use formal financial services (compared to more than 45% in urban areas). Existing financial products rarely respond to the needs of the rural population, many of which are small-holder farmers, while women continue to be particularly disadvantaged.

Rural and Agricultural Finance in Uganda

The German Development Cooperation (KfW and GIZ) has been active in the development of the financial sector in Uganda for over ten years. One of the main objectives over the last years has been the deepening of the financial sector with the aim to bring poorer segments of the population into the sector and to provide adequate financial services to people that have traditionally not adequately been served by the financial intermediaries.

Rural Financial Programme - Support to Agrobusiness Initiative Trust Fund

Despite significant improvements in recent years the Uganda financial sector’s services are still limited to urban and peri-urban areas, while rural areas and the agricultural sector remain largely neglected by the formal financial system. As around 85% of the population lives in rural areas in Uganda improved access to adequate financial services will significantly contribute to the social and economic development of the country.

Rural Financial Programme - Support to Agrobusiness Initiative Trust Fund

Despite significant improvements in recent years the Uganda financial sector’s services are still limited to urban and peri-urban areas, while rural areas and the agricultural sector remain largely neglected by the formal financial system. As around 85% of the population lives in rural areas in Uganda improved access to adequate financial services will significantly contribute to the social and economic development of the country.

Rural Financial Programme - Support to Agrobusiness Initiative Trust Fund

Despite significant improvements in recent years the Uganda financial sector’s services are still limited to urban and peri-urban areas, while rural areas and the agricultural sector remain largely neglected by the formal financial system. As around 85% of the population lives in rural areas in Uganda improved access to adequate financial services will significantly contribute to the social and economic development of the country.

SME Training Experts - Private Enterprise Finance Facility

The overall objective of the technical assistance scheme is the provision of advisory services for capacity building in favor of current and potential future final beneficiaries of EIB's Private Enterprise Finance Facility II(PEFF II) in Uganda PEFF II is a long term credit facility in extended to Ugandan banks ("financial intermediaries") for on-lending to small and medium enterprises (SMEs). The finance contract for the facility was signed by six Ugandan financial intermediaries.

Access to Rural and Agricultural Finance in Uganda

The financial sector in Uganda has experienced considerable growth and regulatory reforms in recent years. Despite these successes, more than 70 percent of the Ugandan population (compared to 82% in 2007) do not have access to formal financial services, including savings and credit, while also lacking basic understanding thereof. Especially the poor and the rural population, women and small-scale farmers suffer from this lack of access, which is one of the biggest obstacles to development.

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