The dfcu Foundation: Better records could open more doors to finance for SMEs

What the report says

At the Annual Uganda Social Entrepreneurship and SMEs Conference and Expo in Kampala, speakers urged small and medium-sized enterprises to improve record-keeping and business discipline as a way to increase their chances of securing finance. The Independent Uganda reported that the discussion focused on the idea that many businesses are not turned away for lack of capital alone, but because they cannot show clear evidence of performance, cash flow and governance to lenders.

dfcu Foundation Executive Director Mabel Ndawula said entrepreneurs should assess their businesses from a lender’s perspective and make sure they can demonstrate reliable numbers, separated finances and compliance with basic governance and regulatory requirements. She said lenders want confidence that a business can meet debt obligations and manage money responsibly. The panel also included leaders from aBi Finance and Ensibuuko, along with Prof. Dominica Dipio of the Missionary Sisters of Mary Mother of the Church.

Gerald Otim of Ensibuuko said digital tools do not have to be complicated or expensive at the start. He encouraged businesses to begin with practical systems such as mobile money, merchant payment services and banking channels that can capture transactions and create usable records. The article said this matters in Uganda because SMEs are a major part of the economy, yet many fail within five years, making better management and documentation important for sustainability and growth.

The dfcu Foundation said its enterprise programmes aim to help entrepreneurs strengthen governance, financial management and readiness for funding.