How Expanding Financial Access Empowers Refugees

Uganda is home to over 1.8 million refugees, according to April 2025 figures from the United Nations High Commissioner for Refugees (UNHCR). Fleeing conflict in South Sudan, the Democratic Republic of Congo, Burundi, and Rwanda, many arrive with entrepreneurial aspirations in farming, trade, and craftsmanship; but with limited or no access to formal financial services.

Despite Uganda’s globally praised refugee policy, which offers freedom of movement, the right to work, and access to land, economic inclusion, particularly in the financial sector remains a challenge. The situation worsened in 2025 after major cuts in humanitarian aid disrupted many traditional support systems.

To fill this gap, institutions like FINCA Uganda have stepped in with targeted interventions. Since 2019, FINCA has been running its RISE program (Refugees: Innovation, Self-reliance, and Empowerment), which was initially launched in the Kiryandongo refugee settlement. This program has since expanded to other major settlements, including Bidibidi, Rhino Camp, Adjumani, Kyaka II, Imvepi, for more empowerment.

Through partnerships with organizations such as Kiva, Opportunity International, Mercy Corps, and GIZ, FINCA has designed tailored financial solutions that meet the unique needs of refugees.

A critical breakthrough came when FINCA revised its eligibility criteria to accept Refugee ID cards in place of conventional collateral like land titles. This made it possible for refugees, who often lack formal identification or property, to access microloans and begin or grow small businesses.

“I wanted to borrow money, but it wasn’t easy because I was a refugee from South Sudan settled in Kiryandongo,” said Auma Santa. “I thank FINCA for providing loans to refugees, as they have helped develop many businesses in our communities.”

Abdalla Ali Adam, also from Kiryandongo district in Bweyale refugee settlement, recalled: “I kept asking for loans from friends to boost my business, but all my efforts were in vain until FINCA stepped in with loans, in 2019.”

Abraham Arimo, Refugee Finance Project Associate, FINCA Uganda says lack of access to financial services makes it difficult for refugees and displaced people to establish financial security in their new homes.

“ In this period, where we are experiencing a reduction in humanitarian aid, financial inclusion matters more in promoting resilience and sustainability for refugees,” said Arimo.

To sustain its efforts, FINCA has established a presence in at least five settlements, conducting financial literacy training to encourage responsible borrowing and enterprise development. These sessions are held in settlements like Kyaka II (Kyegegwa district), Bidibidi (Yumbe district), Rhino Camp (Arua district), Adjumani, and Imvepi (Terego district).

Refugees can access FINCA services by visiting their nearest FINCA Uganda branch or through mobile outreach teams stationed at partner NGOs within refugee settlements. Applicants must present a valid Refugee ID and are assessed for eligibility through simplified credit scoring, focusing on business potential and repayment ability rather than traditional banking records.

By supporting financial independence for displaced communities, institutions like FINCA reduce dependency on aid and promote local economic growth. Refugees who access financial services often start small businesses that benefit the host communities through trade, employment, and services—contributing to Uganda’s broader development goals.

As Uganda continues to carry one of the world’s largest refugee burdens, building inclusive financial systems that leave no one behind is not only humanitarian—it’s economically smart.