A Fanaka subsidiary dedicated to expanding financial inclusion and empowering businesses across Uganda.
About us
Fanikiwa is a proud subsidiary of Fanaka Technologies, bringing years of fintech innovation, customer trust, and operational excellence into Uganda.
After a strong and transformative run in Zambia, we expanded our mission into Uganda to continue bridging financial gaps and empowering underserved communities.
The Problem Statement
Uganda's MSMEs face critical challenges that prevent them from reaching their full potential. Fanikiwa is here to bridge these gaps and unlock opportunities for growth.
Inaccessibility of Traditional Credit Options
Only a small fraction of Ugandan businesses have formal borrowing: according to multiple surveys, only about 10% of businesses in Uganda have a bank loan or line of credit, far below Sub-Saharan African and global averages.
Limited Financial Literacy
A 2021 Global Financial Literacy Survey estimated that only about 34% of Ugandans are financially literate meaning roughly two thirds lack essential financial knowledge to manage money well.
Vulnerability to Financial Risks
Insurance penetration in Uganda is extremely low typically below 1% of GDP when measured as gross written premiums relative to the size of the economy. Low penetration shows that formal insurance products are not widely used across the population or businesses.
Together, we're building a more inclusive financial ecosystem for Uganda's entrepreneurs.
Solution
Our Awesome Tech Stack
Our Fanaka digital platform is an integrated suite of proprietary technologies designed to power inclusive finance for MSMEs.
Kula App
A customer-facing mobile app that enables MSMEs to apply for loans, make repayments, access financial literacy training, microinsurance, and manage their credit journey.
Zanga FE App
A productivity tool for our Field Entrepreneurs to onboard, support, and monitor MSME clients in real time.
Fanaka Konnekt
Our in-house core banking and loan management system that centralizes customer data, configures loan products, automates disbursements and repayments, and supports compliance and reporting.
Fanaka I.Q
Our data intelligence engine that aggregates over 200,000 behavioral, demographic, and transactional data points to power a proprietary MSME credit scoring model and drive product optimization.
