The investment, brokered by CARE Social Ventures, will significantly expand efforts to ensure women and girls have the digital and financial access they need to thrive in today’s world.

Licensed digital/online money lenders, who are diverting from the newly issued digital lending guidelines issued in March by the Uganda Microfinance Regulatory Authority (Umra), risk having their licenses revoked, the sector regulator has warned.

This partnership is poised to significantly narrow the financial inclusion gap, streamlining the processes of money transfer, savings, and credit accessibility for individuals.

Lack of a formal IDs slows economic growth by limiting who can participate in the formal economy.

With support from the World Bank, the Western Balkan economies are making significant progress in aligning their national payment systems with EU standards as part of their accession goals.

Mi-Bospo operates mainly in rural areas and offers access to credit and non-financial services to individuals, particularly women entrepreneurs.

The grant will allow Opportunity International to provide micro and small business loans, digital tools and specialized technical training to women-led small- and micro businesses in the Democratic Republic of the Congo (DRC), Ghana, Nigeria and Uganda.

Quest Digital Finance, a Ugandan tech company, is placing the power of banking and service delivery in the palms of the farmers and entrepreneurs using its digital platforms.

A senior loan of EUR 5 million will be on-lent by the bank to businesses that want to implement energy efficiency and resource efficiency measures, as well as small scale renewable energy projects. 

The new investments include a $5M local currency facility for Uganda from Nordic Microfinance Initiative (NMI), $6M from existing lender Symbiotics, and $1M from crowdfunding platform Lendahand, all to support growth in Uganda.