FINCA Canada Partners with Government of Canada to Support Youth Employment in Uganda
'Young entrepreneurs in Uganda are brimming with potential. This partnership will equip them to realize that potential, improve their lives, and drive meaningful, lasting progress in their communities.'— FINCA Uganda Managing Director James Onyutta
DODOMA, TANZANIA, July 28, 2025 / EINPresswire.com / -- Canada's Secretary of State for International Development, the Honourable Randeep Sarai, visited Dodoma, Tanzania, on July 21, 2025, to announce a new $5 million CAD, five-year partnership between the Government of Canada and FINCA Canada, in collaboration with FINCA Uganda. The initiative aims to expand economic opportunities for youth aged 30 and under in East Africa through financial inclusion and entrepreneurship.
The project, 'Increasing Economic Opportunities for Youth in Uganda and Tanzania,' focuses on strengthening the socio-economic inclusion of young people, especially marginalized and vulnerable young women. By refining skills, enhancing financial inclusion, and improving employability, the initiative aims to support long-term economic growth and reduce poverty in the region.
'Canada has proudly partnered with FINCA Canada for more than eight years. Now, we are working together to support marginalized youth in Uganda and Tanzania,' said Hon. Randeep Sarai, Canada's Secretary of State for International Development. 'Through technical and vocational education and training, and skills development, young people—especially young women—will be empowered with competencies that meet current market demands. They will be better equipped to secure jobs, advance their careers, and expand or start new businesses. Inclusive opportunities will lead to a brighter future for all.'
Youth socio-economic inclusion is vital for East Africa's sustainable development and economic growth, especially considering that youth comprise over 70 percent of the population in both Uganda and Tanzania, with median ages of 16 and 19, respectively. Despite their numbers, youth unemployment remains high—17 percent in Uganda and 11 percent in Tanzania—far above national averages. Additionally, young women face unemployment rates 50 percent higher than their male counterparts.
The project will support youth through vocational training, entrepreneurship, and employment programs. To ensure sustainability and local impact, FINCA Canada will work closely with local organizations and businesses in both countries. These partners will provide job skills training to help young people secure employment.
Through the Business Partnership Program, FINCA Canada will offer business skills development, mentorship, and connections to established enterprises within local communities. The initiative will also provide financial education, services, and capital to help young entrepreneurs start or grow their businesses.
FINCA Uganda Managing Director James Onyutta expressed excitement about the opportunities this project presents.
'Young entrepreneurs in Uganda are brimming with potential,' Onyutta said. 'This partnership will equip them to realize that potential, improve their lives, and drive meaningful, lasting progress in their communities.'
Over the next five years, FINCA Canada and the Government of Canada aim to support more than 40,000 youth in Tanzania and Uganda—particularly young women and girls—through vocational training, financial literacy programs, business placements, and mentorship opportunities. By increasing access to financial products and services for launching or expanding businesses, the project is expected to generate approximately 20,000 new jobs.
About FINCA Uganda
As part of the FINCA Impact Finance network, FINCA Uganda empowers customers by providing financial products, services, and education to help improve their standard of living and build financial health and resilience. A pioneer in financial inclusion, FINCA Uganda has served more than one million customers since its inception in 1992.
About the FINCA Network
FINCA Uganda and FINCA Canada are part of the global FINCA network. FINCA is committed to creating pathways out of poverty through sustainable, scalable solutions rooted in the needs of the people it serves. The organization's work is driven by the belief that all people should have the opportunity to leverage their wisdom, talent, and effort to determine their own destiny.
Scovia N. Swabrah
FINCA Uganda Limited
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