era92 Fund Raises $425k to Empower Micro and Social Ventures in Uganda

We have some exciting news to share, era92 Fund has secured $425,000 in financial support from two inspiring organizations, the Angello Development Foundation and the Peter Vardy Foundation.

This injection of funds will serve to bolster era92 Fund’s lending capital throughout 2023, enabling them to empower micro-entrepreneurs and social ventures in Uganda.

With their commitment to mobilizing resources and funds from investors worldwide, the team aims to address society’s most pressing challenges and contribute to the creation of a prosperous Africa.

“What distinguishes this seed round is our ability to proactively select our investors, led by Angello, rather than the traditional approach of investors choosing us. This exceptional opportunity has enabled us to uphold our faith values and cultivate deeper relationships with the individuals who have invested in our vision. These connections will play a vital role as we embark on our journey to make affordable capital accessible to all and create prosperity in frontier markets.” – Emmanuel Trinity, co-founder of era92 Fund

era92 Fund – Catalyzing Change

Since its establishment in 2021, era92 Fund has been on a remarkable path of transforming lives and empowering communities.

Through their unwavering commitment, they have provided 2,000 loans, totaling approximately $500,000, to individuals and businesses in need.

But their impact goes far beyond financial assistance.

With a holistic approach to empowerment, era92 Fund has introduced savings programs and provided invaluable financial literacy training and business education.

By equipping their clients with the necessary knowledge and skills, they have nurtured a culture of financial independence and entrepreneurship.

Managing five social enterprises, era92 Fund has become a force for positive change. Through their two dynamic arms, era92 Finance and era92 Ventures, they serve over 2,000 clients, with the majority being hardworking women who play the vital roles of income generators and caregivers for their families.

The company recognizes the immense potential and strength within these women, and they are dedicated to unlocking opportunities for their success.

Through financial support, education, and guidance, they are helping individuals and businesses thrive, creating a ripple effect that uplifts entire communities.

Funding for Expansion and Financial Inclusion

The recent funds raised will be allocated to two critical aspects: growing their microfinance institutions and providing support for era92 Ventures.

These arms require additional debt funding to expand their reach and impact, ultimately serving vulnerable individuals and social entrepreneurs who often face challenges in accessing loans and savings.

Through their financial inclusion services, era92 Fund empowers families and social entrepreneurs to grow their businesses, increase their incomes, manage their finances, and enhance their livelihoods.

These efforts contribute to the creation of prosperity in frontier markets.

Africa’s Untapped Potential

One of the driving forces behind the teams focus on Uganda and Africa at large is the continent’s urgent need for financial inclusion.

Estimates reveal that Africa is home to a significant share of the world’s unbanked population, including a substantial number of underbanked consumers and SMEs.

Shockingly, around 66% of Sub-Saharan Africa’s 1 billion people lack a bank account, according to data from the World Bank.

These statistics have inspired era92 Fund to develop innovative solutions to scale payment systems and drive digital financing in Uganda, a market with immense potential.

Pathways to Prosperity

As era92 Fund continues to flourish, their ability to revolutionize access to credit for underprivileged individuals and businesses becomes increasingly evident.

By providing affordable credit to those who need it most, era92 Fund is paving the way for economic growth and prosperity.

“We find financial health and financial inclusion is a cornerstone for inclusive growth and prosperity creation on the continent. If you care about stable frontier economies, you have to start with financial inclusion,” – Emmanuel Trinity, co-founder of era92 Fund

The Future Shines Bright

era92 Fund is on the verge of launching their Venture arm—an impact investing initiative designed to provide patient capital to innovative and high-impact social enterprises.

Through this venture, era92 Fund aims to ignite household and SME labor productivity throughout Africa.

In conclusion, era92 Fund’s journey of empowerment is a testament to the transformative power of financial support, education, and entrepreneurial spirit.

With their unwavering commitment to providing loans, introducing savings programs, and offering financial literacy training, era92 Fund has not only changed lives but also uplifted entire communities.

By recognizing the crucial role that women play as income generators and caregivers, era92 Fund has become a catalyst for gender equality and economic empowerment.

Their dedication to serving the underprivileged and underserved populations of Uganda and beyond has created a ripple effect of positive change, paving the way for a more inclusive and prosperous future.

Listen to era92’s Incredible Story

In episode 53 of the Disruptors for GOOD podcast, I speak with Emmanuel Trinity , Founder of era92 on growing up in the slums of Uganda and escaping extreme poverty and violence through the love of technology.

Trinity is a social entrepreneur from Kampala, Uganda with an incredible an inspiring story.