CARE Invests in Ugandan Fintech Ensibuuko to Boost Financial Inclusion for Women

CARE is pleased to announce a strategic partnership and investment in Ensibuuko, a Uganda-based fintech company. The investment, brokered by CARE Social Ventures, will significantly expand efforts to ensure women and girls have the digital and financial access they need to thrive in today’s world. Through this partnership, Ensibuuko will acquire CARE’s proprietary Chomoka application, a digital solution for savings groups, and expand collaboration with CARE teams across Africa.

Like CARE, Ensibuuko believes digital products like Chomoka have the highest potential to help savings groups and their members (most of whom are women) build financial independence. Ensibuuko currently supports a network of 7,500 digital savings groups in Uganda and Malawi. In 2022, Ensibuuko acquired a microfinance banking license in Uganda and now offers digital loans and payments to savings groups and their members.