The over all objective of this programme is to promote transparency between MFIs and their clients for greater efficiency and a market driven industry. A consumer code of practice has been developed and approved by AMFIU member MFIs. All MFIs ought to adhere to this code.
Financial Literacy Initiatives in Northern Uganda
With support from GIZ Agricultural and Rural Finance Programme Uganda, the Association of Microfinance Institutions of Uganda (AMFIU) has conducted highly successful Financial Literacy Activities in Lango and Acholi Subregion, Adjumani and West Nile. The financial literacy activities focused on mainly conducting training of trainers to staff and board financial institutions and media campaigns.
Key highlights of the programme - Training Of Trainers
The key outcomes of the training of trainers included the following:
- Financial Literacy Needs Assessment conducted to 15 Microfinance Institutions
- Target group related trainings Programme developed
- 39 staff of 19 Microfinance Institutions trained as certified trainers in Financial Literacy by Bank of Uganda through training of trainers in all 7 Financial Literacy Modules
- 1.106 non-clients, 1.305 clients, 111 staff, management and Members of Board trained in Financial Literacy by traltained trainers
- Financial Literacy Trainers Manual for SACCOs established
These 19 Microfinance Institutions have an outreach (per 30.9.2015) of
- 14.437 Loan clients
- 12.071 Billions UGX Loan Portfolio
- 58.456 Savers
- 12.763,6 Billions UGX Total Savings Portfolio
- Financial Literacy Radio Shows by 5 MFIs
- Financial literacy Training targeting teachers and parents by 1 MFI
- 1 Sacco established savings group consisting of Staff Sacco
Key highlights of the programme - Media Campaign Highlights
- Media shows were conducted on different radio stations. Long term Cooperation with Radio Wa 89.9 FM on weekly Financial Literacy Radio Show (Business Panorama Radio Show, every Thursday from 11-12am). In 2015: 13 joint Radio Shows conducted
- Three days Financial Literacy Media Training to 16 Radio Presenters and Journalists of 7 Radio Stations and Vision Group in Lira conducted.
Rupiny newspaper published an article about this initiative. Read more here
For publication from this programme click here.