Uganda Finance Trust Limited
Uganda Finance Trust Limited (UFT) is a financial institution licensed and regulated by the Bank of Uganda as a microfinance deposit-taking institution (MDI). It's specifically focused on serving the needs of micro, small, and medium enterprises (MSMEs), particularly those owned and operated by women in Uganda. UFT aims to provide accessible and affordable financial services to a segment of the population that often faces difficulties accessing traditional banking services. The institution's core mission revolves around economic empowerment through financial inclusion. UFT achieves this by offering a range of tailored products and services designed to meet the specific needs of its target clientele. These include micro-loans, savings accounts, insurance products, and financial literacy training. Micro-loans are a central offering, enabling entrepreneurs to start, expand, or sustain their businesses. These loans are often structured with flexible repayment terms and competitive interest rates, making them accessible to borrowers with limited collateral or credit history. UFT understands the importance of tailoring loan products to the unique challenges faced by MSMEs, adapting to sector-specific requirements and market dynamics. Savings accounts are another crucial component of UFT's services. They provide a safe and secure place for clients to save money, promoting financial stability and enabling them to plan for future investments. UFT offers various savings options, including individual and group savings accounts, designed to encourage a savings culture among its clients. Recognizing the vulnerability of MSMEs to unforeseen circumstances, UFT also provides access to insurance products. These products help protect businesses and individuals from financial losses due to events such as illness, accidents, or natural disasters. By mitigating risk, UFT contributes to the resilience and sustainability of its clients' livelihoods. Beyond financial products, UFT places a strong emphasis on financial literacy training. This training equips clients with the knowledge and skills they need to manage their finances effectively, make informed decisions, and grow their businesses sustainably. Topics covered in these training programs often include budgeting, financial planning, credit management, and business management. UFT operates through a network of branches and service centers located across Uganda, bringing financial services closer to communities in both urban and rural areas. The institution’s widespread presence ensures that even those in remote locations can access the financial resources and support they need to thrive. Furthermore, UFT is committed to responsible lending practices. This means ensuring that clients are able to repay their loans without undue hardship and that lending activities contribute to sustainable economic development. The institution adheres to ethical lending standards and prioritizes the well-being of its clients. In summary, Uganda Finance Trust Limited plays a vital role in promoting financial inclusion and economic empowerment in Uganda. By providing tailored financial products, financial literacy training, and a commitment to responsible lending, UFT enables MSMEs, especially those led by women, to access the resources and support they need to grow their businesses, improve their livelihoods, and contribute to the overall economic development of the country.