Government Pledges Support to Tier IV Financial Institutions Amidst New Association Launch

The government has reaffirmed its dedication to bolstering Tier IV financial institutions, a commitment made during the recent launch of the Association of Tier IV Financial Institutions in Uganda (ATIFIU). This significant development occurred at a strategic capacity-building conference held in Kampala.

Minister of State for Microfinance, Shartsi Kutesa Musherure, addressed directors and board members, urging them to champion innovation, visionary leadership, and robust collaboration to fortify the financial sector. She emphasized that strong institutions are built with intention and expressed confidence that the conference equipped attendees with enhanced skills and networks.

Minister Musherure highlighted the immense trust placed in microfinance institutions by millions of Ugandans regarding their savings. She stressed the critical need for sector leaders to maintain this public confidence through responsible financial management, exemplary governance, and superior service delivery. The Minister also advocated for stronger partnerships between financial institutions and other key stakeholders, positioning the conference as a catalyst for ongoing cooperation.

Dr. Ruth Aisha Biyinzika Kasolo, the GROW Project Coordinator, underscored the vital role of financial inclusion, particularly in empowering women entrepreneurs. She explained that the GROW project is designed to facilitate women’s access to finance, thereby enabling them to expand their businesses. Dr. Kasolo noted that many women run successful ventures but are hampered by a lack of adequate capital for growth, calling on microfinance institutions to help bridge this funding gap.

The establishment of ATIFIU is anticipated to create a cohesive platform for Tier IV financial institutions. This will enable them to strengthen their governance structures, refine service provision, effectively advocate for the sector’s interests, and promote sustainable expansion. The association is also expected to play a key role in capacity building and improving access to financial services for women, small business owners, and other underserved populations across Uganda.

Source: Nile Post