National Financial Inclusion Strategy​

Primary Target Groups: All

Tools of impact: Technical Assistance

Achievements: Development of Uganda’s National Financial Inclusion Strategy.

Synopsis:

FSDU was invited to join the Inter-Institutional Committee on Financial Inclusion (IICFI), which was tasked with developing a National Financial Inclusion Strategy, spearheaded by MOFPED and supported by BOU. Our inputs shaped this 5-year plan which has set key ambitious targets to reduce both demand and supply side barriers to financial inclusion including: reducing financial exclusion and barriers to access financial services; developing the credit infrastructure for growth; building the digital infrastructure for efficiency; deepening and broadening formal savings, investment and insurance usage; and protecting and empowering individuals with enhanced financial capability. In addition to participating in subsequent meetings of the taskforce, FSDU funded the launch of NFIS and publication of the document.

FSDU continues to support the committees to develop and implement workplans. The NFIS helped set the national agenda on financial inclusion. All private sector entities in the financial sector use this as a guiding document to align with national priorities on financial inclusion. Additionally, with the support of FSDU, the central bank is putting in place a monitoring and evaluation framework for the NFIS secretariat.

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