State Minister for Microfinance Shartsi Musherure has called for stronger and sustainable microfinance systems to help economically active Ugandans build businesses, save and create jobs.
The minister made the call during a meeting with the leadership of the Microfinance Support Centre (MSC) at the Ministry of Finance in Kampala. The MSC delegation was led by Executive Director John Mujuni.
The meeting focused on aligning the agency’s work with President Yoweri Museveni’s wealth creation agenda. Musasizi said government investment in microfinance should help communities build sustainable livelihoods and become financially resilient.
The minister wants microfinance programmes to reach people who can engage in productive economic activity but lack access to affordable financing.
MSC officials said the agency has focused on strengthening microfinance institutions, encouraging savings and supporting viable enterprises. It also promotes financial literacy and works with institutions to improve access to affordable credit.
According to MSC, its programmes have reached 7.5 million beneficiaries and supported the creation of about 1.2 million jobs.
The government-owned agency has also worked with 7,391 client institutions as part of efforts to reduce interest rates and improve access to finance.
The meeting comes as the government pushes wealth creation programmes to increase household incomes and expand participation in the money economy.
MSC said its next phase will strengthen monitoring and governance while encouraging more savings.
It will also focus on suitable financial products, enterprise development and value addition. The agency plans to improve coordination with government institutions and other stakeholders.
