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Rural Finance Initiative (RUFI) is a cross-border microfinance institution committed to improving the living conditions of disadvantaged communities through inclusive financial services. Founded in South Sudan in 2008 and expanding to Uganda in 2017, RUFI has a long history of supporting refugees who have fled the war in South Sudan, host communities and rural populations through innovative financial solutions. Currently, RUFI serves more than 8,000 customers in the Western Nile and Western Uganda regions, including 600 smallholder farmers. Leveraging Village Savings and Loan Associations and digital tools, RUFI has enabled communities to access loans, savings services, and essential financial education.
With a population of 48 million, Uganda is East Africa’s third-largest economy after Kenya and Tanzania. After going through a difficult period until the 1980s, the country has achieved remarkable economic performance in recent decades. Uganda has managed the post-pandemic recovery well and remained resilient in the face of global economic challenges. Agriculture remains the backbone of the Ugandan economy, employing 66% of the population, with coffee being one of the main export commodities. Despite this positive trend, poverty persists, with 60% of the population living below the global threshold of £3 PPP/day.
“Run by refugees themselves, RUFI offers its clients financial services that enable them to develop activities that promote their economic independence, ensure them a dignified life and enhance their skills. Through the provision of inclusive and affordable financial services and financial education training, refugees can access funds to invest and, thanks to their training, manage and use them effectively. It offers collective and individual loans to refugees and local communities, particularly in the areas of agriculture and green energy produced from renewable sources.
In 2024, RUFI won first prize in the European Microfinance Awards, which is remarkable given its modest size.”
