The Microfinance Support Centre has today signed a memorandum of understanding with Asigma, a management and financial advisory firm based in Kampala, to enhance the implementation of MSC’s resource mobilization and capacity building; while taking into consideration the needs and opportunities that exist at the global, regional and national levels.
In his remarks, Mr. Wakyiku David, Managing Director Asigma, recognized MSC’s achievements and significance in the microfinance industry, adding that his firm’s advisory arm would be handy in formulating a capacity statement to specifically woo potential business partners and funders as a resource mobilization strategy. “We want to enhance the mobilization of financial resources for MSC by identifying, developing and co-financing high quality projects as well as supporting project implementation, monitoring and evaluation using modern and legally acceptable tools and models,” he said.
John Peter Mujuni, MSC’s Executive Director, welcomed the partnership saying it will contribute immensely to the company’s overall sustainability plan. Over the years, the business development services unit has been instrumental in identifying, establishing and growing the company’s partnership base. In the second quarter of financial year 2018/19, the unit engaged various institutions such as Uganda Institute of Banking and Financial Services (UIBFS), West Nile Private Sector (WENIPS), VSF-Belgium, Private Sector Foundation Uganda (PSFU), United Nations Capital Development Fund (UNCDF) and Integrated Seed Sector Development Uganda (ISSDU) to discuss areas of partnership and collaboration.
The partnership with Asigma will be the first of its kind and is anticipated to not only create exposure to new markets and clients for MSC, but to build brand awareness of MSC as a financial services institution offering affordable credit to the active poor.