Five Talents Uganda Ltd is a Christian microenterprise development Institution that gives financial and non- financial services to the active poor people in Uganda. It offers small loans and trains people in business and financial management skills to empower them in economic development.

Microfinance came in as an intervention against fighting poverty specifically to low income earners who could not access financial services due to the bottlenecks at the time. 

However since the micro-credit summit in 1997, a number of active poor people have been reached. This has led to employment, improved standards of living, access to education, health and general wellbeing of the poor people. The challenge continues to be limited capital to enable microfinance institutions to support more than they have reached. I participate in training staff and clients in order to equip them with the necessary knowledge and skills that will help them in the implementation of the company policies and procedures and in the operating and managing of finances and businesses. My company delivers financial services, facilitates staff in their work and supervises and monitors the work done.

Using the top- bottom approach that was applied by developed countries and international donor agencies to transfer funds to third world countries failed. However microfinance emphasizes bottomtop approach due to the participation of intended beneficiaries of development projects in the process of designing formulation and implementation of projects.

The industry is on an improving trend and continues to serve several Ugandans, registering several

successes such as economic empowerment, provision of capital for the growth of businesses and business training and skills empowerment.

In terms of the challenges the industry is currently facing the default rate from un trustworthy customers, the culture of people where FTU operates and the regulation of most microfinance Institutions is still weak.

We have changed poor people’s live positively where now especially women do not depend on men for livelihood, school fees for children, shelter, clothes, and food both men and women jointly provide. Where family members are not in agreement women have always taken the responsibility for the family needs.

In Africa there is a saying that when you educate a man, you educate one person but when you educate a woman then you educate the nation. This has been confirmed as a true saying through implementing policies and procedure of Five Talents Uganda where we serve both men and women. If the microfinance industry can be sustained then poor people in the developing countries will both change and develop.

The future of the Industry is bright due to the liberalization of the economy that allowed several stakeholders to take part in the industry.

Company: Five Talents Uganda Ltd
Name: Rev. Jonathan Byamugisha
Telephone: +256 772 574 598