MasterCard Foundation to Invest in Ugandan Companies

Thursday, August 13, 2015

Uganda is among eight countries set to receive USD50m (Sh177b) by the Master Card Foundation Fund for Rural Prosperity to fund innovations aimed at improving access to finance in rural populations in sub Saharan Africa.

In a breakfast workshop attended by bankers in Kampala on Wednesday, Gabriel Kivuti a Specialist in access to finance for the Fund for Rural Prosperity Programme said the Fund will improve the lives of one million smallholder farmers and other people living in poverty in rural Africa by encouraging the ingenuity of African businesses in or related to the financial sector.

“The fund will support innovative ideas that have the potential to grow to scale and also have a deep social impact on the lives of rural people living in poverty throughout Sub-Saharan Africa,” Kivuti said.

The Master Card Foundation (MCF) is an independent global organisation that creates opportunities for all people to learn and prosper. The Foundation’s programs promote financial inclusion and advance youth learning, mostly in Africa.

Source: New Vision (link opens in a new window)

Agriculture, Impact Assessment
impact investing, poverty alleviation