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Uganda

IMPROVING LIVELIHOODS OF SMALL BUSINESS OWNERS

WE LOAN SMALL AMOUNTS OF MONEY TO PEOPLE LIVING IN POVERTY TO BUILD OR EXPAND A SMALL BUSINESS. WITH A REGULAR AND SECURE INCOME, UGANDAN MOTHERS AND FATHERS CAN TAKE CARE OF THEIR FAMILIES AND PLAN FOR THEIR FUTURES.

VisionFund Uganda began operations in 1997. Our remit was and is to serve low-income business owners living in areas where World Vision operates.

We take a ‘credit with education’ approach. This means that alongside our loans, we offer our clients business training and technical knowledge to help their businesses succeed. We also offer savings programmes and insurance products that help secure futures for their children.

Our clients typically work in commerce, agriculture or manufacturing. We loan to both women and men between 18 and 55 years old, with modest or no literacy skills. We aim to do more to help poor people in Uganda.

    Working in Uganda

    Uganda is known as the ‘Pearl of Africa’. When it became independent in 1962, it was one of the most vibrant and promising economies in Sub-Saharan Africa. However, since then it has faced economic mismanagement and civil wars, which have stifled the progress of this once promising country.

    Since the liberalisation of the financial sector in the mid-1980s, Uganda’s microfinance industry has grown to become a key factor in the country’s plans for economic development. However, a 2010 FinScope survey showed that only 28% of adults in Uganda have access to formal financial services. Moreover, only 22% of people living in rural areas have access to credit, compared to 47% of the urban population.

    Around 35 million people live in Uganda, a quarter of whom live in poverty. Uganda remains a very poor country and far from the middle income status it aspires to achieve.

    VisionFund Uganda currently has two job openings:

    Branch Manager

    Senior Credit Loan Officer 

    Database Administrator

    Awards and Ratings

     

    • Silver Award for Social Performance Management 2011 by Ford Foundation 

     

    • MicroFinanza Rating CCC+ August 2011 

     

    • Four Diamond Transparency award by Mix Market 2011 

     

    • Five Diamond Transparency award by Mix Market 2007 

     

    • Meritorious Award for Village Phone Initiative by MTN Uganda 2004


    • MFTransparency SEAL OF PRICING Transaprency Awarded by mftransparency.org 2013

       

       

       

       

       

      Future Innovation

       

      We have planned the following short and medium term initiatives to meet the changing needs of our borrowers. 

       

      • Transform our MFI into a micro deposit-taking institution that provides savings services.
      • Refine the cash disbursement method
      • Promote the use of mobile money collection
      • Mobile Money Banking
      • Develop a marketing unit
      • Make improvements based on customer satisfaction reviews
      • Re branding All Branch Premises to VisionFund Uganda Brand
      • Opening up field offices in all areas of operation
      • Rolling out PPI to all branches

       

       

      Client Success Story

       

      Beatrice Alwenyi 38yrs is a mother of four children Brian, Junior, Joan and Emmanuel who are orphans and formerly a resident of Poyem village in Iyolwa ADP. She is engaged in buying and selling of mainly cassava produce and sometimes cereals from farmers in and around Tororo. She has managed this business for over four years after the death of her husband. “I decided to start this business after the relatives of my late husband chased me away from our land with all my children” Beatrice explained sadly.

       

      From the small/little proceeds of the revenue she got from her small business, Beatrice bought a small piece of land and also managed to keep her children in school.

      For quite long Beatrice had increasing challenges of insufficient funds for her business and home management as a widow mother. “I thank God for World Vision Tororo for having brought VisionFund Uganda in our area” Said Beatrice happily.

      In the late 2012, Vision Fund Uganda conducted massive community sensitization together with World Vision Tororo in all ADPs and Beatrice was amongst the first potential beneficiaries to qualify for the VFU micro loan in the ADP.

      She then enrolled for a six months USD 312 micro loan which she invested in her produce business.

      After paying off the first loan well and growing her business, Beatrice enrolled for a ten months USD 585 micro loan which she is currently servicing and paying on time.

       “Iam so happy and motivated that out of the VisionFund Uganda micro loans, i have managed to grow my business, paid school fees for my children and have shifted from a rental house to my own house after completing it with the VFU loan” Said Beatrice.

      Beatrice’s future plan is to grow further her business as she supports other farmers in the area and to educate all her children through university.

                    

      Beatrice Alwenyi and some of her children in front of her                               Beatrice in her produce stall (Her business) where she invests VFU

      newly constructed home out of the profits she got as a result of                      loan money and uses the profits to educate her children and take

      borrowed funds from VFU;                                                                             of her household

      Management Details

      Management Team

       STEPHEN NNAWUBA

      CHIEF EXECUTIVE OFFICER

      stephen_nnawuba@wvi.org

       Tel:   +256 414 530 735 

      BRIAN A. KASUJJA 

      OPERATIONS MANAGER
        brian_kasuja@wvi.org

      Tel:   +256 414 532 682

       



      RICHARD KIGOZI BIKATU

       FINANCE MANAGER

      richard_kigozi@wvi.org

        Tel:   +256 414 532 682

       MARY KASUMBA

       HUMAN RESOURCE AND ADMINISTRATION MANAGER

      mary_kasumba@wvi.org

        Tel:   +256 414 532 682

       

      PHILLIAM MWESIGWA 

      HEAD OF I.T
      philliam_mwesigwa@wvi.org

      Tel: +256 414 532 682

       

      HERBERT OBONYO 

      AUDIT MANAGER
      herbert_obonyo@wvi.org

      Tel: +256 414 532 682

       

       

       

      Board of Director

       

      CHAIRPERSON,VISIONFUND UGANDA

      Mr. Alex Kakuru
        

       

                                   CHAIRPERSON, AUDIT COMMITTEE 

      Mr. Asaph Muhanguzi


       

           



      BOARD MEMBER

       Mr. Barry Firth

       


      BOARD MEMBER,

      Mr. Gilbert Kamanga

       

           


      BOARD MEMBER

       

       

       

      BOARD MEMBER,
       

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