KAMPALA, May 24, 2024
FutureLink Technologies and gnuGRID CRB has launched Uganda’s first SACCO Industry Dashboard and Credit Score. This innovative Dashboard allows SACCOs and Microfinance Institutions (MFIs) to refine their growth strategies and develop relevant financial products by utilising real-time industry data. Additionally, the SACCO Credit Score, created in partnership with GnuGrid CRB, streamlines the lending decision process for SACCOs and MFIs.
“The SACCO Industry Dashboard will accelerate the development of relevant and affordable financial services, promote fair pricing, and foster a sustainable and inclusive financial system in Uganda.”
At the launch event, Richard Byarugaba, Executive Director of Finance at the Bank of Uganda, stated, “The SACCO Dashboard facilitates real-time industry comparison while ensuring data privacy and integrity for each institution and individual. The and MFIs attract and retain customers, mobilize community savings, increase transaction revenue, and reduce infrastructure costs by 90%.
Bank of Uganda supports innovations like these that enhance access to formal financial services.”
Ms. Edith Namugga Tusuubira, Executive Director of the Uganda Microfinance Regulatory Authority (UMRA), praised FutureLink Technologies and gnuGRID CRB for its commitment to developing relevant and affordable financial services and tools in Uganda.
About gnuGrid
GnuGrid CRB Limited is Uganda’s first indigenous credit reference bureau. Established in 2019 and licensed by the Bank of Uganda in November 2021, GnuGrid CRB collects and organizes credit and transactional data on borrowers, providing credit reports and scores to help credit service providers make informed lending decisions.
“The SACCO Credit Score will significantly enhance access to affordable credit from formal lenders for many individuals who currently lack credit profiles and have limited credit access."
