COVID-19 continues to cause disruptions to not only the microfinance sector but local economy as a whole. Specifically to the microfinance sector, client businesses have already been affected by disruptions to supply chains and markets for goods/services arising from border closures, restriction of movement and closure of non-essential businesses.

As clients seek to cope with the pandemic, most have turned to using the capital of their businesses to meet short-term consumption needs. This has eroded the capital of their businesses and has led them to experience repayment challenges while others may completely go out of business.

For most clients served by MFIs, access to financial services has been restricted during the period of the pandemic due to the low level of digitization of the institutions that serve this client segment since such initiatives are often expensive and high risk for microfinance institutions.

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There is no doubt that there have been massive disruptions at the work place in light of the global COVID-19 pandemic. The pandemic has posed a major challenge for employers in relation to their ability to retain employees in the short and medium terms. Globally, the majority of Governments have issued Public Health Policy and Legislative measures that have resulted in the disruption of the routine work schedules for the majority of the non-essential services or sectors. This has caused significant disruption to employer revenue streams which in turn, is affecting their ability to meet their ongoing wage bills.

The inability of employers to meet their short to medium term wage bills is compelling the vast majority of them to reconsider their positions and contractual obligations. What is for certain under the prevailing circumstances, is that a number of employment contracts may be affected in order to help the employers keep afloat.

On the 20th of March, 2020, the Minister of State for Labour, Employment and Industrial Relations, Honourable Mwesigwa Rukutana delivered a press statement drawing the attention of employers, workers and the general public on employment matters. He noted that the spread of the virus will impact the world of work across three key dimensions including the quantity of available jobs, the quality of work and the effect of the spread of the virus on specific groups of people who are more vulnerable to adverse labour market outcomes.

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The Association of Microfinance Institutions of Uganda (AMFIU) in collaboration with Citibank Uganda have again organised the Citi Microentreprenuership Awards. The main objective of the awards is to recognize the extraordinary contributions that individual microentrepreneurs have made to the economic stability of their families as well as their communities in Uganda.

Application Form

Awards Brochure 2020

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18th June 2020, Hotel Africana, Kampala
Theme: Demystifying digital financial services and use of technology in economic and social empowerment of vulnerable communities

Background to the National Microfinance Conference

The Association of Microfinance Institutions of Uganda (AMFIU) hosts a national microfinance conference every two years that brings together various stakeholders in the sector to share experiences, introduce innovations and facilitate networking amongst various stakeholders. In the past, AMFIU has partnered with the Financial Services Department under the Ministry of finance planning and economic development to host these conferences. Each of the conferences have attracted over 200 participants, with stakeholders that include Central Banks from the East African region, financial services providers, academic institutions, wholesale lenders, social investors, donors and development partners among others.

About this year’s Conference theme

Digital financial services hold tremendous promise to deliver financial services to the underbanked and excluded population in Uganda. Mobile money has driven financial inclusion in Uganda with impressive growth and a competitive market. The 2018 FINSCOPE study report indicated a 78% surge in the country’s financial inclusion rate majorly supported by mobile money services. The same report also indicated that 23% of Ugandans save money on mobile money platforms, compared to only 11% who save with commercial banks.

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