Hofokam MFI is one of the oldest and largest microfinance institutions serving the rural poor in Western Uganda, with a portfolio of more than US$ 6.72 million, serving over 15,000 clients.
Hofokam provides financial credit services to all economically active customers and their enterprises with a focus on people in rural areas who are excluded from the mainstream financial system, like women and youth.
Hofokam’s clients are involved in a wide range of economic activities, and what they offer is tailor-made to address the specific needs of the economically active poor through the delivery of water and sanitation loans, among others.
The Hofokam Water and Sanitation Loan is not only about finance but also about the belief that by investing in Water, Sanitation, and Hygiene (WASH) the health and living conditions of people in Uganda will significantly improve.
Hofokam and Aqua for All signed a partnership agreement to increase access to finance for water and sanitation in Uganda, and through a partnership with Oikocredit, we provide technical assistance support to Hofokam, which will be used to improve its WASH loan product and build internal capacity on WASH microlending.
On Tuesday the 7th of May Hofokam MFI launched their WAS Loan product at the Kayla Courts Hotel, Fortportal City, Uganda.
Our WASH Finance Manager, Leonard Obuna, was one of the speakers and explained why we partner with Hofokam : “Enhancing Commercial Financing access to WASH enterprises and households in rural areas requires close collaboration between Government, Financial Institutions and Development Partners to build capacity and de-risk the sector. Through our Partnership with Hofokam MFI, Aqua for All is committed to empowering communities with sustainable, safe drinking water and dignified sanitation”.
For greater impact, Hofokam will pursue a value chain financing approach, targeting actors in both water and sanitation value chains. Hofokam will intentionally target serving actors encompassing entrepreneurs, masons, hardware dealers, households, institutions and producers in related value chains like agriculture. Such an approach will actualise and accelerate financial inclusion in Mid-Western Uganda.