KAMPALA, Uganda (UGNEWSLINE) – The United Nations Capital Development Fund (UNCDF), in partnership with the Mastercard Foundation, has launched a digital device financing initiative through Richblack Communications Limited to improve access to affordable technology for approximately 18,000 micro, small and medium enterprises (MSMEs) across Uganda.
The initiative, unveiled during the 8th Annual Fintech Conference at Sheraton Kampala Hotel, is expected to finance about 22,000 smartphones, laptops and tablets for entrepreneurs. It targets young people, women-led businesses, refugees, persons with disabilities and other underserved groups, helping them overcome the high upfront cost of digital devices.
Under the arrangement, Richblack Communications Limited will procure the devices in bulk and offer them to eligible entrepreneurs through structured payment plans. The model is intended to make technology more affordable while enabling small businesses to adopt digital tools for payments, record-keeping, business management and market expansion.
Speaking at the launch, Richblack Communications Limited Director Harriet Asiimwe said affordable digital technology is essential for entrepreneurs seeking to grow their businesses and participate in the digital economy.
“Access to digital devices is essential for entrepreneurs seeking to grow their businesses and participate in the digital economy. Through this partnership, we aim to make device ownership more accessible to young people, women entrepreneurs and small businesses, particularly those in underserved communities, enabling them to embrace digital solutions and unlock new opportunities for growth,” Asiimwe said.
According to the GSMA Consumer Survey 2024, smartphone ownership in Uganda stands at about 33 percent in urban areas compared to just 20 percent in rural areas, highlighting the need for interventions that improve affordability and bridge the digital divide.
The initiative is being implemented under the 10X: Enabling the Growth of MSMEs through the Digital Economy Programme, led by UNCDF, Outbox, Women in Technology Uganda and Refactory in partnership with the Mastercard Foundation. The programme seeks to expand economic opportunities for young women and strengthen women-led enterprises through improved access to finance, markets, digital skills and business support.
UNCDF said it is using concessional financing to reduce investment risks that have previously limited affordable device financing for underserved entrepreneurs. The organisation expects the initiative to demonstrate the commercial viability of financing productive digital assets and encourage greater investment from financial institutions and the private sector.
Officials noted that improving access to digital technology will enhance financial inclusion, increase business productivity and strengthen the resilience of small enterprises, while contributing to Uganda’s broader digital transformation agenda.
