In Uganda today, access to financial services remains a luxury for many. For women and youth, the path to accessing capital is often hindered by high interest rates, a lack of collateral, and the limited reach of traditional financial institutions.
At Empower Youth in Technology (EYIT), we recognize these challenges. Through our initiative—ESFI (EYIT Startup Financing Initiative), we are changing the narrative for underserved entrepreneurs in Uganda.
Understanding the Financial Barriers
The statistics are staggering:
•70% of Ugandans lack access to formal financial services
•87% of Ugandans do not own bank accounts
•Borrowing is made nearly impossible due to interest rates ranging from 25% to 36% annually
These barriers disproportionately affect women, youth, and small business owners operating in rural and informal economies. Without access to affordable capital, their dreams stall, and opportunities are lost.
Introducing ESFI – Save to Grow
ESFI was established to break down these barriers and provide a sustainable, community-driven alternative to traditional lending systems. We offer collateral-free microloans to women through organized community lending groups.
Inspired by successful models such as the Brac Foundation and ASA Microfinance, ESFI group loans are built on trust, peer support, and shared growth. Here’s how it works:
How ESFI Group Loans Work
Our group loan model is designed to reach those who are often excluded from mainstream banking.
- Loans are provided to individual entrepreneurs through community-based groups of 3–5 members
- Members are drawn from the same local communities, ensuring trust and accountability
- These groups offer a space to share knowledge, build confidence, and grow together
- Loan amounts range from UGX 500,000 to 1 million per person, and repayment is done through weekly installments.
But we don’t stop at giving out loans
Beyond Credit: Building Financial Capability. Every ESFI loan is supported by pre-disbursement orientation and ongoing financial literacy and business training. Our goal is not just to fund small-scale businesses, but to help women make informed decisions and manage their finances responsibly.
Borrowers use ESFI collateral-free microloans to:
•Buy productive assets
•Invest in micro-businesses and rural trade
•Manage household emergencies
•Reduce dependence on predatory lenders
This model has proven highly effective, as over 98% of ESFI loans are issued through group lending. Since February 2024, we have achieved 100% repayment success, making it our flagship financial solution.
Why ESFI is a Game-Changer
By focusing on community support and financial education, ESFI bridges the gap between dreams and opportunity. It offers a real alternative to the high-interest, collateral-heavy loans that dominate Uganda’s financial sector. With ESFI, you don’t just get microcredit support; you join a network of empowered, informed, and connected small-scale entrepreneurs.
Ready to Grow with Us?
If you are a woman running a small enterprise looking for accessible capital, ESFI is here for you.
Visit Us: Bananuka Drive, Mbarara
Call Now: 0759283134
#SaveToGrow #FinancialInclusion