3rd Microfinance and Savings Groups Conference 2025
The Minister of State for Microfinance Al-Hajj Haruna Kasolo has said Government of Uganda remains firmly committed to inclusive prosperity and to realizing a Uganda where no one is left behind.
He said together, we can build a financially empowered Uganda, a nation where opportunity, enterprise, and dignity are within the reach of every citizen.
Kasolo made the remarks this morning during the official opening of the 3rd Annual Microfinance and Savings Groups Conference 2025, at Hotel Africana in Kampala.
The theme of this conference is “sustainable financial inclusion for environmental, economic, and social impact” which the Minister said resonates with the overall ideology of the National Resistance Movement (NRM) that envisions a modern, united, and prosperous Uganda anchored on socio-economic transformation, inclusive development, and the empowerment of citizens to participate fully in the country’s progress.
Kasolo applauded the enactment of the National Payment System Act, adding that the national payments framework reform has been instrumental in strengthening Uganda’s financial architecture and reinforcing the foundations for sustained economic growth.
He said improved regulatory environment has also catalyzed innovation within the financial sector, enabling new solutions that simplify transactions while reducing associated risks and costs.
“In communities that previously had no banks or reliable access points, digital innovations such as Post Bank’s Wendi Mobile Wallet, Stanbic’s FlexiPay, Ensibuuko’s digital platforms, among others, have significantly eased access to financial services,” said the Minister.
Commenting on the Emyooga Program, he said this will continue, with an expanded scope aimed at enabling beneficiaries to transition into viable small and medium enterprises capable of meaningfully participating in and transforming value chains across the country.
“Government will continue to support these enterprises to have their products certified by the Uganda National Bureau of Standards (UNBS) and to position them to supply goods and services to Ministries, Departments, and Agencies,” he said.
The Minister said all the SACCO strengthening initiatives, and other financial inclusion interventions reflect Government’s commitment to building a robust, inclusive, and enterprise-driven economy in which all Ugandans especially women, youth, and rural communities can thrive.
“Effective regulation of the sector is crucial to protect it from fraudulent brokers and middlemen and every stakeholder has a role to play,” he said.
The Permanent Secretary and Secretary to the Treasury (PSST), Ramathan Ggoobi said Microfinance has long stood as a transformative force, a catalyst for change that lifts families out of poverty, empowers women and fuels the growth of micro and small enterprises.
"I have always said that, there are arguably two "opportunity
equalizers" in life-education and financial inclusion," said Ggoobi, adding that Microfinance is at the heart of financial inclusion for Uganda where 33% of the people are still in subsistence economy.
The PSST said microfinance is one of the key buttons that are going to enable Uganda to become a 500-billion-dollar economy that works for all. He said overall financial inclusion in Uganda is mainly driven by mobile money usage which stands at 66%.
He said the latest Finscope Report (2023) shows that financial inclusion of adults has risen to 81% up from 70% in 2009.
Ggoobi also said Government has during the last ten years invested over Shs 11 trillion in wealth creation initiatives as part of the efforts to ensure access to finance.
