BANCS Microfinance is empowering the people of Uganda by providing them a way out, not a hand-out.

 Microfinance is

• Banking for those in need

• Small loans – usually less than $200

• A dedication to start, establish, sustain, or expand small, self-supporting businesses

• Recycling of loan dollars- each loan is repaid usually within four to six months

• Very client-friendly: microfinance institutions (MFIs) go to their clients to provide loans and receive payments, rather than requiring their clients to come to them

• Focal centres – cluster meetings

• Peer support system

Microfinance has been internationally recognized for its contribution to the economic and social development of the economically active people of Uganda who live on less than 2 dollars a day.

Ultimately, the goal of mircrofinance is to give low income people an opportunity to access appropriate financial services to become self-sufficient by providing them with a means for saving money, borrowing money, and insurance.

Microfinance in Uganda

Microfinance institutions have 94 million micro-borrowers worldwide and the industry is growing at a rate of 12% a year, but even then only an estimated 4% of the overall global demand for microfinance is being met. Although estimates vary, the potential global microfinance market is worth approximately USD 300 billion. Microfinance is particularly relevant in sub-Sahara Africa where 72.9% of the population lives off less than $2 a day and 388 million live on less than $1.25 per day, and the cost to lift a life out of poverty is remarkably low. Microfinance has proved to be the most powerful tool in existence today to make a long-term impact in the lives of Ugandans.

The government of Uganda believes microfinance is a key to private-sector growth and development and has taken measures to create what is known as an “enabling environment” for microfinance consumers and suppliers in Uganda. Many full service banks in East Africa have recognized the profitability of microfinance and are becoming major players in the market. Although Uganda has led the way in microfinace in sub-Sahara Africa, less than 5% of the population has been reached with microfinance services. In the surrounding nations the percentage of population served is even lower.

BANCS provides small-scale entrepreneurs with microfinance services whilepromoting spiritual, physical, and social transformation

BANCS

BANCS is a values-driven Christian Organization. We shall always function in a manner that empowers rather than creates dependency, thereby effecting social, physical and spiritual transformation in individual lives, families, local churches, and entire communities.

We wish to achieve a broad and deep outreach of clients nationwide and we continue to develop innovative holistic approaches to promote transformation and eradicate poverty in Uganda that expand beyond the traditional microfinance product. Our Key areas of focus include:

• Mandatory and voluntary savings facility

• Business education, coaching and mentoring in a Christian framework

• Creating and strengthening community groups among related church networks

• Providing strong linkages to U.S. churches, organizations, and individual donors to create effective support networks

• Monitoring/documenting the social impact of economic transformation and social services