The Minister of Finance, Planning and Economic Development, Hon. Matia Kasaija, has commended the Microfinance Support Centre (MSC) for its pivotal role in promoting financial inclusion, job creation, and wealth generation at the grassroots as the agency unveiled its new Strategic Plan 2025/26–2029/30 at Four Points by Sheraton in Kampala.
The five-year plan, themed “Affordable Microfinance Services for Wealth and Job Creation,” aims to reach 8 million Ugandans, create 1.2 million jobs, and transition 2,824 Emyooga SACCOs from grants to credit by 2030.
Kasaija said the new plan marks a “significant milestone” for Uganda’s social and economic transformation. “Through affordable financing characterised by a low interest rate of 8% and minimal fees, MSC has effectively reduced the cost of capital and expanded financial inclusion,” he said. “This has enabled thousands of Ugandans — especially those previously excluded from the money economy — to start and grow enterprises.”
The Minister praised MSC for extending government programs to local communities through SACCOs and financial groups, which he said are “empowering Ugandans to save, invest, and transform their livelihoods.”
He also urged the Centre to sustain efforts in lowering interest rates and mobilising savings across the country. “Savings are the foundation for wealth creation,” Kasaija said. “I commend MSC for transforming SACCOs into trusted community-level institutions. I encourage you to keep promoting a culture of saving and investment to sustain wealth and job creation.”
New Plan Anchored on Four Strategic Pillars
Unveiling the details of the plan, Hellen Petronilla Masika, Deputy Executive Director of MSC, said the strategy was the product of “deep reflection, extensive stakeholder consultations, and lessons from past experience.”
“This plan reaffirms our commitment to building an inclusive economy — one where all Ugandans, regardless of background or location, can meaningfully participate in wealth creation,” she said.
Masika noted that MSC has already supported over 9,000 financial institutions and reached 7.6 million beneficiaries through credit and enterprise support programs such as Emyooga and Islamic Finance.
The new plan, she said, is built on four strategic pillars: increasing access to affordable credit and inclusive financial services; promoting enterprise development and job creation; strengthening institutional sustainability and governance; and leveraging technology and innovation to enhance operational efficiency.
“We are more prepared than ever to deliver on this plan,” Masika added. “With improved governance, stronger systems, and a dedicated team, MSC is ready to transform the livelihoods of Uganda’s active poor.”
Government Reaffirms Support
Delivering remarks on behalf of Permanent Secretary and Secretary to the Treasury (PSST) Ramathan Ggoobi, Mr Anthony Kintu Mwanje reaffirmed the Ministry’s commitment to supporting MSC in executing the plan.
“Microfinance is not just about providing loans — it is a powerful tool that transforms lives, nurtures entrepreneurship, and promotes inclusive growth,” Ggoobi’s speech read. “We must ensure that every Ugandan has access to affordable finance to achieve their dreams.”
He also emphasised the importance of accountability and sustainability. “The Microfinance Support Centre must not rely solely on government funding but strengthen its capacity to generate internal revenue,” he said. “This is essential for its long-term viability and continued impact.”
MSC Board and Partners Commend Progress
MSC Board Chairperson Dr Aliba Kiiza Emmanuel described the plan as a “fundamental shift” in the country’s microfinance sector.
“This is not just another document — it’s a transformation,” he said. “Four years ago, the Minister directed us to return microfinance to its foundational purpose. After years of hard work and reform, we now have a plan that truly serves the people.”
Dr Kiiza said the plan’s mission for the next five years is to “build, promote, and sustain grassroots financial institutions” — aligning with the government’s goal of reducing poverty through locally owned financial systems.
MSC Executive Director John Peter Mujuni reiterated the institution’s commitment to expanding affordable finance to the grassroots.
“We are building a strong financial infrastructure that delivers affordable capital to Ugandans,” Mujuni said. “Our ultimate goal is to grow community cooperatives into lenders to the government — reducing our dependence on foreign borrowing.”
He thanked the Minister for his guidance on promoting national savings and tackling youth unemployment.
“The Minister has often reminded us of the urgency of job creation,” he said. “This plan directly responds to that call by supporting youth and women to become job creators, not job seekers.”
A Vision for Inclusive Growth
Bank of Uganda was represented by Phillip Andrew Wabulya, Executive Director in charge of Risk and Strategy, who noted that the Central Bank’s revised strategy also prioritises socio-economic transformation.
“The Bank of Uganda is fully aligned with the government’s 10-fold growth strategy and Vision 2040,” he said. “We commend MSC’s efforts to strengthen capacity building and financial education at the grassroots. That’s where true transformation begins.”
Targets by 2030
Under the new strategy, MSC aims to: reach 9,000 client institutions (4,000 sustainable); reach 8 million individuals; create and maintain 1.2 million jobs; transition 2,824 Emyooga SACCOs from credit grants; and strengthen digital financial services and promote climate-smart financing.
The plan also emphasises gender equity, youth empowerment, and inclusion of persons with disabilities, ensuring that Uganda’s growth remains both inclusive and sustainable.