Rural Financial Services In Uganda
Rural Finance refers to raising and accumulating funds and lending them to rural people, including farmers, to enable them to run their socio-economic activities in the rural areas. Therefore, Rural Credit helps farmers with their livelihood until the crops are ready for sale in the market. The credit can help farmers acquire seeds, tools, fertilizers, and more, which are essential parts of their trade.
Rural Financial Services In Uganda
The main business of a rural bank to mobilize resources locally and to on-lend the same to the people in the area. In other words, they operate in rural communities and specialize in the extension of credit to present farmers, fishermen, rural entrepreneurs such as cottage industrialists and traders in rural areas. Agricultural finance, or agrifinance, is a model that assists vulnerable and rural smallholder farmers to reduce risk and increase investment in their farms, leading to increased yields and higher income.
They provide banking facilities to the rural people who were hitherto not served by the commercial banks. b) They help in the development of agriculture and small-scale industries in rural areas. c) They promote thrift and entrepreneurship among the rural people. Extend loans to artisans, farmers, labourers, and MSMEs. Accepting savings and other forms of deposits. Distributional and disbursement of pension and wages.RRBs operate majorly towards agriculture finance, small sector loans, handicrafts and other small sector loans, whereas commercial banks or PSBs provide many other facilities like car loans,housing loans, credit to large companies along with agriculture finance etc.
The RRBs mobilize deposits primarily from rural/semi-urban areas and provide loans and advances mostly to small and marginal farmers, agricultural labourers , rural artisans and other segments of priority sector. The co-operative banks are small-sized units which operate both in urban and non-urban centers. The RRBs are entrusted to cater to the needs of the rural people in the backward regions and bring Financial Inclusion at the primary level. The main objective of the RRBs is to provide credit and other banking facilities to the small, marginal farmers, agricultural laborers, small artisans, etc.
List Of Rural Financial Services In Uganda
Below Are The Partial List Of Rural Financial Services In Uganda
Financial Sector Deepening Uganda – FSD Uganda
33513, Kampala, 33513, Kampala, Plot 7A John Babiha (Acacia) Ave, Kampala, Uganda
+256 39 3231260
aBi Development Ltd
Plot 20 Nakasero Rd, Kampala, Uganda
+256 31 2351600
SOLUTI FINANCE
Block A Ground Floor, Plot 1 Kololo Hill Dr, Kampala, Uganda
Association of Microfinance Institutions of Uganda
P.O.Box 26056, Kampala, Uganda
+256 41 4259176
Rugendabara Cooperative Savings Bank
9652+V7P, Rwimi, Uganda
+256 771 625581
Uganda Registration Services Bureau
1 Baskerville Ave, Kampala, Uganda
+256 800 100006