Accion is a global nonprofit dedicated to building a financially inclusive world with economic opportunity for all, by giving people the financial tools they need to improve their lives. We are building the next generation of top-tier microfinance institutions, and over more than 50 years have helped build 64 such institutions in 32 countries on four continents that today reach millions of clients. Our impact investing initiatives are pushing beyond microfinance to catalyze more than 20 innovative start-ups dedicated to improving the efficiency, reach and scope of financial services for the poor. And our Center for Financial Inclusion is helping to build a stronger industry with high standards and broad engagement. Currently, our work spans nearly two dozen countries, including the U.S., where we are the nation’s largest nonprofit microfinance network.
Uganda Agency for Development (UGAD) Limited was incorporated in 1994 as a non-governmental organisation (NGO) in order to provide affordable financial services to clients across Uganda. In 2006, the organization made the decision to transform itself into a deposit taking institution (MDI). In 2010 it incorporated as a liability limited company, transfering all assets and liabilities to the new company. This transformation has facilitated UGAFODE MDI’s capacity for growth, allowing it to serve more customers across the nation.
Access Africa Fund LLC (AAF) is a microfinance investment fund established in 2010 to reduce poverty and promote financial inclusion in Sub-Saharan Africa, which meshes well with MEDA’s mission of creating business solutions to poverty. Focused on low income financial institutions serving the base of the pyramid in Africa, it was launched with an $8 million investment by CARE USA as a joint initiative with MicroVest to increase access to financial services for the region’s vast unbanked population.
Equity participation in the Fonds Européen de Financement Solidaire pour l’Afrique (“FEFISOL” or the “Fund”), a specialised rural microfinance Fund created with the aim to provide medium-term financing to rural Microfinance Institutions (“MFIs”) and small producer businesses active in fair trade, organic products and food production. The Fund will mainly provide debt but also equity and guarantee instruments throughout Africa, including North Africa and Sub-Saharan Africa. Technical Assistance (“TA”) support will be provided to selected portfolio companies. The Fund will mostly make loans in local currency. The Fund will be managed by the French social investor and microfinance services provider SIDI, along with 2 other social investors from Italy and Belgium Etimos and Alterfin.
- Kikoni E. Turyamuhika
- Rev. Cannon Ephraim Gensi
- Dr. Ezra Suruma