Bill Gates to fund FSD Uganda as UK govt pulls out

Bill and Melinda Gates Foundation has taken over the funding of Financial Sector Deepening Uganda (FSD Uganda) after the UK government pulled out.

FSD Uganda is a think-tank that provides direct policy and regulatory advice to all financial sector regulators in Uganda.

Announcing the decision, Jason Lamb, the Deputy Director at the Gates Foundation, said: “The Gates Foundation recognizes FSD Uganda’s focus on marginalized and excluded citizens and micro/small enterprises and the positive impact on their lives. We are delighted to fund the next stage of their work. We would also like to recognize the UK government for its vision as the founding donor.”

Andrew Ockenden, Development Director at British High Commission Uganda said the UK government was proud of its work at FSD.

“The UK is proud of the institution we have established and excited about the new expertise and focus that the Gates Foundation will bring. It is a huge mark of success that FSD Uganda has attracted the wider donor support that has enabled FSD Uganda to succeed independently of the founding donor. The UK remains fully committed to FSD Uganda and the results we know it will continue to deliver,”

Andrew Ockenden, Development Director at British High Commission Uganda

“I am proud of the work that the UK has achieved through FSD Uganda. Together we have enabled over 600,000 individuals to access finance, and supported over 4,000 micro, small and medium enterprises. This support has focussed on the most marginalised in society,” he said.

“The UK is proud of the institution we have established and excited about the new expertise and focus that the Gates Foundation will bring. It is a huge mark of success that FSD Uganda has attracted the wider donor support that has enabled FSD Uganda to succeed independently of the founding donor. The UK remains fully committed to FSD Uganda and the results we know it will continue to deliver,” he added.

Since 2015 the UK Government has invested UGX 85 billion (£17m) to establish and support Financial Sector Deepening Uganda (FSD Uganda), giving over 600,000 individuals and 4,000 micro, small and medium enterprises increased access to and utilisation of formal financial services.

This comes after FSD Uganda appointed Patrick Oketa as its Executive Director. He is tasked with leading the development and  the delivery of FSD Uganda’s key programmatic initiatives.