German Sparkassenstiftung East African in Uganda.
Our office in Uganda is based in Kampala.
A portrait of Uganda
Uganda has a population of about 45 million people according to the census conducted in 2024 by the Uganda Bureau of Statistics, and enjoys a unique location along the equator, in the heart of Sub-Saharan Africa within the East African region. The unique climate conditions lay the foundation for its biggest sector: agriculture which provides jobs for more than 80% of the workforce, making it the single most important source of income.
The majority of Uganda’s adult population engages in entrepreneurial activity to the extent that the country was recently ranked one of the most entrepreneurial countries in the world. Yet, only a few of the businesses created are surviving and even fewer are thriving.
The economy is generally stable, with growth accelerated to 6.1% and inflation averaging 3.2% in FY24 according to the World Bank. However, poverty estimates from the latest household budget survey show that 42% of Ugandans were living below the poverty line in 2019/2020.
According to FinScope Uganda 2023 study, 81% of adults are financially included through formal institutions. This is due to the improved access to financial services through new technologies like mobile banking and mobile money, broadening the scope of credit offices and other non-banks such as utilities and mobile money service providers, allowing for Microfinance Deposit-taking Institutions (MDIs) to engage in agency banking and improving the competitive framework for mobile money via interoperable clearing and settlement mechanisms. However, around 19% of the population in Uganda is still financially excluded from the formal and/or informal sectors.
Uganda’s vision behind financial inclusion is not just having more people with accounts who are making transfers and are getting loans; it is rather centered around reducing poverty and enhancing the economic security of families through the usage of affordable financial services. This however is constrained by the quality of financial services as well as financial literacy.
Our vision and activities
German Sparkassenstiftung began its activities in Uganda at the end of 2018, initially establishing its head office in Kampala district along with a coordination office in Arua. Currently, we operate only from our office in Kampala.
In Uganda, we are currently working in partnership with the Uganda Cooperative Savings and Credit Union (UCSCU), the apex body for Savings and Credit Cooperatives (SACCOs), on various project activities such as financial education, savings mobilization, capacity building, institutional strengthening, digitalisation, and Business Hub setup. We aim for financial inclusion of the marginalized population, and our activities currently extend to the Central Region and West Nile Region.
We have previously partnered with the Association of Microfinance Institutions of Uganda (AMFIU) on various project activities as well, including financial education, savings mobilization, capacity building, institutional strengthening, digitalization, and the establishment of AMFIU Business Consult (ABC). We have also partnered with the Uganda Institute of Banking and Financial Services (UIBFS) to support the implementation of the Dual Apprenticeship system in the microfinance sector.
