Insights from the MSE Recovery Fund Learn and Share Workshop
Summary
The MSE Recovery Fund, a 5-year initiative valued at US$ 22 million under the Mastercard Foundation Young Africa Works program, is in collaboration with Financial Sector Deepening (FSD) Uganda. Targeting youth and women-owned businesses affected by the COVID-19 pandemic, the Fund aims to complement the Government of Uganda’s Small Business Recovery Fund while utilising Tier III & IV financial institutions. The Fund also aims to bolster the resilience of MSEs as they are critical employers in Uganda.
Last week marked a significant milestone for the Micro and Small Enterprises (MSE) Recovery Fund as we hosted our first Learn and Share workshop of 2024 on Thursday, April 25. This event brought together a diverse group of stakeholders committed to empowering young entrepreneurs across Uganda.
The Fund is being implemented by FSD, in collaboration with ASIGMA, gnuGrid, Microsave and several participating financial institutions.
The MSE Recovery Fund, a 5-year initiative valued at US$ 22 million under the Mastercard Foundation Young Africa Works program, is in collaboration with Financial Sector Deepening (FSD) Uganda. Targeting youth and women-owned businesses affected by the COVID-19 pandemic, the Fund aims to complement the Government of Uganda’s Small Business Recovery Fund while utilising Tier III & IV financial institutions. The Fund also aims to bolster the resilience of MSEs as they are critical employers in Uganda.
Mastercard Foundation’s Arnold Byarugaba re-emphasises the importance of financial inclusion, especially for the youth and women-owned businesses, in building sustainability across the country.
During the workshop, participants shared invaluable insights, lessons learned and best practices to enhance our collective understanding and capacity. Key presentations from program partners like FSD Uganda highlighted performance highlights, including full Fund subscription and over 70% disbursement to women-led MSEs.
Performance overview of the Fund.
As the Facility Manager, ASIGMA presented lessons learned and portfolio monitoring findings.
Our Access To Finance Senior Associate, Arnold Atwine shares our findings and lessons on portfolio monitoring from the execution of the Recovery Fund.
Microsave, the Learning Partner, elaborated on key findings, including the remarkable recovery of 74% of supported MSEs from the pandemic’s effects and that 64% of women beneficiaries were engaged in the trading sector.
Additionally, gnuGrid, the Fund’s CRB partner, reported progress in onboarding Tier IV FIs to the credit referencing network, with 42 FIs now integrated. Inclusivity was a core focus, with training from Light for the World empowering Participating Financial Institutions and implementing partners to identify Persons With Disabilities and tailor interventions to meet their needs for achieving their business goals.