Partners:

• Five Talents Uganda (FTU), Kampala, Uganda
• Anglican Church of Uganda

Program Type and Services:

• Christian Microfinance Institution: “Credit-Led”

Group lending methodology: FTU clients form groups and thus draw up a constitution together and democratically elect their leaders. They commit themselves as individual clients within the group and save together. They apply for loan support from FTU as a group and thus the loan is guaranteed by the group. Once approved by FTU, FTU shares expected repayment schedule with the group. After servicing several loans to the group, members are able to graduate to the individual category. Group loans range from $110 to $1,000.

Individual lending methodology: Some individuals graduate from the group methodology to individual lending methodology. Individuals begin to save and then approach FTU for loans. When applications are accepted, they bring guarantors for the loan offered. Once approved by FTU, FTU gives the repayment schedule to the client. Individual loans range from $220 to $2,200.

FTU offers the following loan options: working capital loans, salary loans, asset acquisition loans, and home improvement loans.

Training and Resource Examples:

• Business skills development: leadership, financial planning, management, cash flow, record keeping, pricing
• Loan insurance
• Christian values

The Program

Five Talents Uganda (FTU), a new Anglican microfinance institution, officially opened its doors to the community in June 2006.  An exciting expansion, FTU seeks to assist thousands of poor entrepreneurs using a combination of microloans, business training and spiritual development.

Five Talents has been working in Uganda since 2001 in partnership with the Anglican Church of Uganda. FTU is a merger of three of FTI’s previously independent microfinance programs, which were started in the three Dioceses of Namirembe, Kigezi and South Rwenzori.  Three branch locations have been established in Kabale, Kasese and Kampala. The Church of Uganda, in collaboration with Five Talents, decided to consolidate these three programs under one legal organization, creating an efficient delivery system for financial services to the poor. The new office will serve as the primary point of contact for all work undertaken by Five Talents in Uganda, including short-term trips for business professionals to conduct seminars for the clients.

Under the new structure, Five Talents Uganda is able to expand effectively into other parts of the country.  This expansion has been the largest single undertaking Five Talents International has taken on during its history.

The Need

By the end of 2012, Five Talents Uganda seeks to reach a total of 5,180 clients, including a planned expansion into Kitgum.  Please join us in praying for these needs today.

2012 Funding Request:

• $278,743.20
• Cost per member to provide Five Talents' holistic services: $53.81

Help us empower the citizens of Uganda with the capacity to improve their lives by supporting this Five Talents International program. You will be fighting poverty, creating jobs and transforming lives!

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