Yearly Archives: 2024

U.S. Government Agencies DFC and USAID Partner with Opportunity Bank to Launch the First-Ever U.S. Lending Program to Refugees and Host Communities in Africa

Kampala, Uganda — The U.S. International Development Finance Corporation (DFC), the U.S. government’s development finance agency, has signed an agreement with Opportunity Bank Uganda Ltd that will enable an increase in lending to refugee businesses and Ugandan host communities by up to $9 million (33 billion UGX) over the next six years. This first-of-its-kind partnership in Africa is intended to help create and grow 60,000 small enterprises across Uganda access financing.

Roughly 70 percent of these loans will be for refugees, and 30 percent will be allocated to members of Ugandan host communities.

The U.S. Agency for International Development (USAID) is supporting the partnership by providing advisory services to prospective borrowers and Opportunity Bank. Given that 18,000 loans are specifically targeted for women, USAID is providing financial training to women borrowers and helping Opportunity Bank to design and market the loans to women. USAID will provide business skills to borrowers and support refugee lending across Opportunity Bank branches.

At the launch event, U.S. Ambassador to Uganda William W. Popp said, “Today, we are taking a big step toward many more refugees and Ugandan host communities fully participating in the formal economy by accessing life-changing financing opportunities. The U.S. government’s partnership with Opportunity Bank is proof of what we can accomplish when the public and private sectors combine efforts to empower communities.”

The CEO of Opportunity Bank Uganda Ltd, Owen Amanya, said, “For close to 30 years now, Opportunity Bank has been transforming the lives of underserved people and communities in Uganda, affirming this unwavering commitment by delivering tailored financial services to refugee businesses and host communities. We appreciate this partnership with the U.S. International Development Finance Corporation, which is aligned with the Bank’s mission to reduce poverty levels and transform lives and communities. The partnership will unlock opportunities and see very many previously financially excluded refugees and Ugandans in the host communities given a chance to earn an income and live a life of dignity and purpose.”

The U.S. International Development Finance Corporation (DFC) partners with the private sector to finance solutions to the most critical challenges facing the developing world today. We invest across sectors including energy, healthcare, infrastructure, agriculture, and small business and financial services. DFC investments adhere to high standards and respect the environment, human rights, and worker rights.  

The United States Agency for International Development (USAID) is the U.S. government agency that leads international development and humanitarian assistance in collaboration with partner countries. The agency works together with individuals, communities, and countries globally to improve everyday lives. USAID’s efforts provide humanitarian assistance, reduce poverty, strengthen democratic governance, advance economic opportunities, and help achieve progress beyond programs.

Opportunity Bank Uganda Limited is a financial institution licensed and regulated by the Central Bank of Uganda. The bank offers tailor-made products and services for individuals, and micro, small, medium and large-sized enterprises across sectors like agriculture, education, trade, clean energy, water, and sanitation, among others. A special focus is accorded to underserved segments such as women, youth, refugees, and persons with disabilities.

Kampala, Uganda – On Sunday 30 June, 2024, Opportunity Bank Uganda marked a significant step in its commitment to environmental sustainability by launching a nationwide tree planting initiative during the 2024 Opportunity Bank Marathon, held under the theme “Planting Hope, Growing Hope, Greening the Future.”

The initiative was officially unveiled at Atlas Junior School in Kawempe, where the Bank’s Board of Directors, partners, and management team gathered to plant the first of many trees symbolizing a greener, more hopeful future for Uganda.

Speaking at the launch, the Independent Non-Executive Director, Paul Soko emphasized on the importance of corporate responsibility in environmental conservation;

“We believe that financial inclusion and environmental sustainability go hand-in-hand. Through this tree planting drive, we aim not only to green our communities and schools but to inspire a sense of shared responsibility and hope for the future.”

The event drew participation from pupils and students from partner schools under the Edu Finance portfolio, staff, community members, and local leaders, all united by a shared vision of nurturing the environment for future generations. The Bank has committed to 50,000 trees in schools and communities across the country in 3 years, working closely with local partners and environmental organizations.

Opportunity Bank’s tree planting initiative is part of a broader corporate social responsibility (CSR) strategy focusing on education, environmental stewardship, and community development.

The run served as both a fitness challenge and a platform to rally support for climate action, reinforcing the Bank’s dedication to sustainable growth and community engagement.