FINCA@30: Who are the 13 top executives leading FINCA’s mission to provide innovative and impactful financial services to Uganda’s low-income earners? This year marks 30 years since the Foundation for International Community Assistance, now famously known as FINCA opened its doors in Uganda with a mission and purpose to alleviate poverty by creating lasting financial solutions that help people build assets, create jobs and raise their standard of living. From very humble beginnings that largely relied on donor grants, FINCA Uganda had matured by 2004 into a respected, sustainable and profitable financial institution worthy of licensing by of Bank of Uganda to be a Microfinance Deposit Taking Institution (MDI). Following the MDI license, FINCA has grown rapidly. As of the end of December 2021, FINCA's deposits stood at UGX102.4billion and its lending portfolio at UGX122.2billion, earning the financial institution a 28.9% and 30% market share respectively, of the five MDIs. FINCA's assets stood at UGX197.7billion—a market share of 25.7% amongst the 5 licensed MDls.
INCA Uganda is led by a team of experienced professionals with over 200 years of combined financial services experience. PHOTO/Courtesy
In line with its purpose of being an "unconventional community-based bank that responsibly provides innovative and impactful financial services", FINCA has also maintained health profitability. For example, in 2019, at the onset of the COVID-19 pandemic, FINCA registered UGX6 billion in net profit. Although the pandemic affected its customer's ability to service their loans, FINCA still registered
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