FinanceNews & AnalysisThe Big Story

FINCA@30: Who are the 13 top executives leading FINCA’s mission to provide innovative and impactful financial services to Uganda’s low-income earners? This year marks 30 years since the Foundation for International Community Assistance, now famously known as FINCA opened its doors in Uganda with a mission and purpose to alleviate poverty by creating lasting financial solutions that help people build assets, create jobs and raise their standard of living. From very humble beginnings that largely relied on donor grants, FINCA Uganda had matured by 2004 into a respected, sustainable and profitable financial institution worthy of licensing by of Bank of Uganda to be a Microfinance Deposit Taking Institution (MDI). Following the MDI license, FINCA has grown rapidly. As of the end of December 2021, FINCA's deposits stood at UGX102.4billion and its lending portfolio at UGX122.2billion, earning the financial institution a 28.9% and 30% market share respectively, of the five MDIs. FINCA's assets stood at UGX197.7billion—a market share of 25.7% amongst the 5 licensed MDls.

by Muhereza Kyamutetera
INCA Uganda is led by a team of experienced professionals with over 200 years of combined financial services experience. PHOTO/Courtesy
Getting your Trinity Audio player ready...
In line with its purpose of being an "unconventional community-based bank that responsibly provides innovative and impactful financial services", FINCA has also maintained health profitability. For example, in 2019, at the onset of the COVID-19 pandemic, FINCA registered UGX6 billion in net profit. Although the pandemic affected its customer's ability to service their loans, FINCA still registered

Thank You For Reading CEO East Africa Magazine.

Please SUBSCRIBE for UNLIMITED ACCESS to our game-changing stories or LOG IN for existing members.

Tagged:
About the Author

Muhereza Kyamutetera is the Executive Editor of CEO East Africa Magazine. I am a travel enthusiast and the Experiences & Destinations Marketing Manager at EDXTravel. Extremely Ugandaholic. Ask me about #1000Reasons2ExploreUganda and how to Take Your Place In The African Sun.