FINCA Uganda Receives Bancassurance License, Pioneering New Approach for MFIs to Broaden Financial Services and Build Resilience for Low-Income Clients

The Insurance Regulatory Authority of Uganda has granted FINCA Uganda a Bancassurance license. The license marks a milestone in FINCA Uganda’s work to broaden financial inclusion and help small entrepreneurs protect their livelihoods. FINCA Uganda will offer affordable insurance products specifically designed to meet the needs of low-income customers, creating financial safety nets that have long been out of reach for many.

With Uganda’s insurance penetration rate at less than 1percent, FINCA Uganda’s insurance offerings represent a major opportunity to increase awareness and adoption of insurance, especially among vulnerable populations.