FSD Uganda2023 Annual Report Letter from the Executive Director
Reflecting on 2023: FSD Uganda’s milestones in financial inclusion and strategic growth
At FSD Uganda, our mission is to “promote improved inclusive financial markets that foster job creation, reduce poverty and improve Uganda’s competitiveness”. In 2023, we took significant steps towards this mission. We continued to focus on innovating, influencing, and driving change in Uganda’s financial landscape.
Innovate: One of the barriers that underserved communities face in accessing financial services is proximity to financial services. Through our digital platform strategy, we partnered with three digital platforms to design and develop business models and products that would increase the productivity and financial access of farmers and micro and small enterprises. To date these digital platforms have increased access to financial services to over 464,000 farmers.
Influence: Working closely with the Bank of Uganda and the Ministry of Finance, Planning and Economic Development, we developed Uganda’s second National Financial Inclusion Strategy (NFIS II) for the period 2023-2028. This strategy will be pivotal in guiding the government and donor community in the framing, development and implementation of financial inclusion initiatives. Likewise, it will also provide a guiding compass for the financial actors in formulating and executing inclusive finance strategies.
Change: The impact of our work in 2023 is evident in the numbers: over 425,000 household members have been impacted by new and or improved financial services facilitated by FSD Uganda, 53,294 micro and small enterprises have accessed and utilised much need capital at preferential interest rates, and more than 281,000 women positively impacted by FSD Uganda program interventions. These achievements underscore the tangible change we are bringing to communities across Uganda. To measure Uganda’s collective progress in improving financial inclusion, we initiated the 2023 Finscope survey, the results of which are available on the FSD Uganda website.
As we continue this journey, we are excited to build on our successes and explore new opportunities that will drive impact. With the ongoing support of our partners and stakeholders, we will drive further progress in financial inclusion.
We would never have achieved these milestones without the collective efforts of our dedicated staff, supportive board of directors, technical committees, donors, and implementing partners.
Sarah Y. Byabazaire
Ag. Executive Director
