Lessons for building resilience through inclusive financial services

Lessons for building resilience through inclusive financial services

How the financial lives of Ugandans have changed to respond to the effects of the Covid-19 crisis

By Jimmy Ebong and Diana Ngaira

FinScope 2018 showed that 75% of Ugandans did not have enough money to pay for living expenses, prior to the COVID-19 crisis. They have small amounts of savings and 23% who coped by working more when facing financial hardship would not be able to work during the lockdown.

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COVID-19 and access to agricultural finance in Uganda

COVID-19 and access to agricultural finance in Uganda

During August and September, Wellspring Development Capital and Sofala Partners conducted a “rapid diagnostic” on the impact of COVID-19 on agricultural finance in Uganda, on behalf of Financial Sector Deepening Uganda (FSDU). We consulted more than 85 experts and practitioners across the country, from those involved in farming and agro-processing, to traders and exporters, commercial banks, NBFIs, SACCOs, regulators, development partners, and more. We would like to express our sincere thanks to those who took the time to share insights with us.

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The impact of Pandemics on Poverty and Financial Inclusion

The impact of Pandemics on Poverty and Financial Inclusion

By Rashmi Pillai, Executive Director.

By now, the novel Coronavirus disease (COVID-19) – is a household term. Hand sanitizer is out of stock, businesses are closing or cutting staff, and even boda-boda riders near the FSD Uganda office report possible plans to stop working and go back to the village because they aren’t earning enough to remit back to their families. The pandemic is another reminder of our global interconnectedness. It is a reminder of how an issue that is completely external can dramatically influence economies, both through on the ground effects like killing tourism, and through macro level effects like disrupting trade and weakening the currency.

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