The Micro and Small Enterprises (MSE) Recovery Fund

November 10, 2023

The Micro and Small Enterprises (MSE) Recovery Fund is a USD 22 Million initiative under the Young Africa Works program, established by the Mastercard Foundation as program sponsor and supported by Financial Sector Deepening (FSD) Uganda as an Anchor Partner in December 2021. The initiative aims to jumpstart the economic livelihoods of entrepreneurs by creating opportunities for the vibrant and ambitious youth of Uganda without ignoring the refugees and persons with disabilities.

The focus areas of the Fund include:

To facilitate access to finance directly to 50,000 MSEs (70% women and young people). We are directly connecting MSEs to the financial magic of up to 25 Tier III & Tier IV financial institutions. The Fund is embarking on a transformative mission to ignite hope and enhance the livelihoods of over 100,000 individuals whose jobs hang in the balance.
Empowering financial service providers with the resilience they need for the future. Through digitisation, we are revolutionising their loan processing workflows, making them seamless and future-proof. We are not just supporters we are catalysts, helping select financial institutions unlock the immense potential of the booming credit reference bureau services landscape.
To draw a torrent of long-term institutional capital into the financial sector, fortifying it against shocks and igniting the flames of sustainability needed for the systemic growth we all yearn for.
To embed continuous learning within the grassroot Financial Institutions across the country, through promoting the very best practices that boost confidence and inspire exciting innovations in product development and service delivery.

Role of the Facility Manager (ASIGMA)

ASIGMA holds the role of Facility Manager on the MSE Recovery Fund. With USD 22 million entrusted to us by the Mastercard Foundation and the Anchor Partner, FSD Uganda, our mission is clear. We steward this capital, ensuring not just its preservation but also minimising risk for all stakeholders. We are not just about numbers; our passion also lies in maximising social impact that is aligned with the Fund’s investment objectives.

ASIGMA’s activities include:

The evaluation and selection of Partner Financial Institutions (PFIs) to access the Fund.
Portfolio monitoring of the PFI disbursements and utilisation in line with program objectives.
Development and maintenance of the associated technology-based tools (Portfolio Monitoring Tool) to ensure transparency and achievement of the program objectives.
Treasury Management to ensure preservation of capital and liquidity management.
Advising the Technical Investment Committee’s decisions and dissemination of learnings.