Stakeholders gather to discuss RFSP impact and completion reports
In Kampala, Uganda, Friday 4 April was a very brightly sunny morning. IFAD and Government of Uganda, together with key partners and stakeholders have gathered for a workshop to discuss the closure reports of RFSP. The invitations said 8:15 am and the chief guest, the Deputy Secretary to the Treasury in the Ministry of Finance, Mr Patrick Ocailap was at the venue, ready to open the workshop at 8:30am! Invited participants quickly took their seats as they walked in one by one to the rare surprise of a chief guest already in his seat!

The stakeholder workshop is a significant milestone as it is the event where the impact of the years of RFSP implementation, as well as a project completion report, are shared and stakeholders invited to provide feedback. The firm hired to carry out the impact studies and write the completion report made a presentation in which they highlighted the achievements of the project in enhancing the outreach of financial services, usage of financial institutions, and sustainability of the supported Savings and Credit Cooperatives (SACCOs).
One of the major challenges of the microfinance industry in Uganda, according to one of the participants, Mr Wilson Wamatsembe (Director, Business Development Services, Microfinance Support Centre), is the weak governance structures that have led to disintegration of many SACCOS as member’s funds were mismanaged. Sustainability remains a challenge, with about a third of the supported SACCOs not on the path to sustainability. A SACCO manager at the workshop further pointed out the need for government to speed up the ‘SACCO Law’ to ensure that culprits of mismanagement of SACCO funds can be brought to book. Fortunately, one of the key results of the RFSP is the fact that with evidence based communication strategies, the project has influenced the tabling of the Tier IV regulation, which is soon to be signed into law.