IFC Market Bite Uganda: Challenges and Opportunities for MSME Finance in the Time of COVID-19

Uganda has a vibrant entrepreneurial business community with over one million micro-, small- and medium-sized enterprises cutting across almost all sectors of the economy. Financial institutions in Uganda are becoming more interested in expanding their support to this critical sector. To assess the actual MSME market opportunity for formal financial services in Uganda, IFC conducted a comprehensive survey of 833 MSMEs across parts of Uganda in April 2021. Based on the survey results, there is an estimated demand for credit by MSMEs of approximately 31.4 trillion Ugandan shillings ($8.8 billion). This report presents the full results of the IFC MSME survey in Uganda, offering key insights for financial services providers to unlock the MSME market potential in Uganda.