Green Finance Solutions in Uganda

On 27th and 28th September 2022, Akaboxi team attended the Practitioner Lab for Policy Prototyping on Green Finance Solutions in Uganda hosted by the Uganda National Planning Authority, ACODE & SEED.

The Practitioner Labs for Policy Prototyping in Uganda will serve as a consultation and co-creation platform for the new Green Finance Strategy by the National Planning Authority. It will highlight insights from the Strategy, gather inputs from experts to strengthen the Strategy and facilitate the brainstorming of green finance solutions

Akaboxi team had an opportunity to share its  perspectives  to the development of the Strategy. Akaboxi presented a green enterprise business model

Akaboxi Finalist For MIT Solve

The digital inclusion category was one of the most competitive ones with 430 applicants from 74 countries so recognition from MIT and the esteemed panel of judges is great validation of our approach guiding a community delivering open source banking building blocks to enable financial services to be embedded everywhere and anywhere.

As a member of the Solver community, MIT will be connecting us with a wide range of resources and showcasing our solution to a broad audience of potential funders and strategic partners so we are eager to see all doors this will help to open up and the scale we can unlock.

Already in just the first week, the in-kind resources have helped us start pursuing some additional opportunities and several valuable introductions leading to potentially fruitful partnerships have been made.

We are looking forward to the collaboration and collective growth Mifos and our fellow cohorts will embark on through the program. Members of our cohort are working on “exciting solutions that provide access to the internet for the billions who remain disconnected, access to financial tools for businesses and entrepreneurs around the world, and culturally relevant digital literacy tools to enable participation in the digital economy.”

The 2021 Solver Class for Digital Inclusion includes:

Follow the link below for more

Mifos is a 2021 MIT Solver Team!

The runners up of Seed Awards 2021.

AKABOXI, the runners up of Seed Awards 2021. with Eco-Inclusive Impacts solving the problem of financial exclusion that affects mainly women and the unemployed youth. It creates awareness of the crucial role of green financing to ensure sustainable development entrepreneurship.

Akaboxi offers a full package solution providing credit scoring, proper bookkeeping, training in climate change, finance, and smart agriculture. They provide a market for farmer’s products, affordable insurance and improved agricultural inputs.

Followup for more on the link below

Financial Inclusion For The Vulnerable

Akaboxi purchased over 230 new branded NFC cards for Village Saving and Loan Association farmers groups.This is more than covid_19 relief fund for small holder farmers in rural communities in Uganda.

With these cards, Akaboxi will in addition to 2,520 small holder farmers (users) reach out to extra 230 users. The NFC cards store individual bio data, and is used for all transactions during their weekly savings and transactions. These replace the passbooks.

Mother’s day

Waking up on a beautiful Sunday morning of 9th May 2021 of Mother’s day celebrations; my social platforms full of messages from friends and family make me feel the big hero in every woman.  I wake up with many messages of the day’s wishes. Reading and happily replying back the day’s celebrations, I think of the Akaboxi women, the mothers. The financially excluded rural, illiterate mothers, the refugees in settlement areas probably not aware that they are even celebrated today.

Our lives are attached with a mother’s presence, both visible and invisible. To honor and celebrate them, every year a day is dedicated just for them.  While one day is not enough to pay tribute and honor the mother, the day encourages people to come out in support and acknowledgement of everything that a mother tirelessly does, day in and day out. Celebrating the tremendous efforts by mothers in shaping a more equal future during COVID-19 pandemic, highlights the gaps that remain. This specifically points out the need for technology inclusion to all. This is why at Akaboxi, we are proud to continuously engage the vulnerable women  in rural communities in Uganda organized in Village Savings and Loan Associations (VSLAs) embrace, learn, live and get accustomed to use of technology.

Mothers play a key role in supporting their households and communities in achieving food and nutrition security, generating income, and improving rural livelihoods and overall well-being. Mothers play a big role in children’s education. In most cases, it is the mother ‘figure’ in a family who most often argues children of both gender to attend and stay in school. Thus contributing to society’s transition from pre-literate to literate. Basis education is key to a

nation’s ability to develop and achieve sustainability targets. Research has shown that education can improve agricultural productivity, enhance the status of girls and women, reduce population growth rates, enhance environmental protection, and widely raise the standard of living.

Perhaps with no one to tell some mothers I love you, a happy mother’s day wishes, a thank you for your contribution to the family, the community despite all that she goes through.

Today, is a special day to celebrate mothers whether passed on or alive with us and make them feel proud of their roles of precreation and nurturing humanity on earth.

A Happy mother’s day to all mothers and congratulations to all who extend a hand to supporting them.

At Akaboxi, we celebrate all mothers and comfort those with bad memories about the mothers that the little hero in you comes from a mother.

Our partners, well-wishers, clients, join us to celebrate mother’s achievements, raise awareness about women’s equality and support as many women as we can for bigger benefits of communities for accelerated gender parity.

Mothers! You are strong, compassionate, loving, and inspiring, you are everything that the world needs.


By Sarah Atuhaire

Women Empowerment

When women empowerment takes another course in Kiryandongo refugee settlement.
Sarah Atuhaire, the co-founder of Akaboxi, a digital financial inclusion system that enables communities to manage and monitor their savings together, shares insights about community empowerment through technology from Kiryandongo refugee settlement.

Although statements that insinuate women are ‘redefining’ roles or have made their ‘mark’ or are ‘great leaders’ are common, many use ‘women empowerment’ to refer to well positioned, economically-empowered women in white collar jobs.
It was during my visit to Kiryandongo in northern Uganda that I came face to face with the real meaning of women empowerment from an ordinary rural woman’s point of view. In Kiryandongo refugee settlement, women are visibly engaged. From taking the lead to provide for their families to get involved in a range of socio-economic activities including businesses, politics and conflict resolution, women are surely taking their place.

With support from the Response Innovation Lab – which was set up to find creative solutions to challenges in delivering humanitarian aid – and in partnership with Save the Children, my organization Akaboxi interacted with groups of women who had come for training in digital financing. A bit about the training: we are exploring new and innovative ways of enhancing refugees’ financial literacy through developing robust and secure ways of handling their savings through the use of new technology. Akaboxi, a new digital tool used by local women saving groups, replaces rudimentary methods of keeping money in boxes in people’s homes – where they could often be lost or stolen – to a more reliable and easy to monitor system.
Just from casual observation, you would see men easily outnumbered the women in the refugee settlement. I also saw so many children. Perhaps speaking to the reality we all have heard about; war disproportionately affects women and children more than the men. The women I spoke to on the sidelines of the training spoke of harrowing tales of escape, death, trauma, loss of loved ones including children, relatives, and husbands. But in all these tales, there was still flickering lights of hope, of not giving up, of having to see their young children through school despite the situation in settlements, of one day returning to peace in their home countries and waiting for the return of missing loved ones.

Almost all women I spoke to said they started their day with preparing their children for school which speaks to the value they attach to their children’s education and thereafter going out to engage in different economic activities. “I can’t sit at home, who will take care of children’s needs and mine,” rhetorically asked one of the women I was talking to. ‘But you have a husband,’ I shoot back. This seemed a common thread in my conversations with many refugee mothers, who despite having husbands, have to fend for themselves to put food on the table.
And they seem to have embraced this new found responsibility with gusto because they speak passionately about their businesses and they have grand expansion plans once they have saved enough money with the support of Save the Children and Akaboxi. It is these women that my company Akaboxi has set out to help. After a long period of saving, such a woman wouldn’t want to see a lazy husband snatch their hard-earned savings to go drink alcohol or marry younger brides. And with high cases of domestic violence in homes, fire outbreaks and insecurity, digital savings becomes a safe and cheap alternative for rural women.

We found most women in Kiryandongo had already formed village saving and loan groups under the mentorship of Save the Children and with this added-value cheap, convenient and secure technology, the sky is going to be the limit for these enterprising women.


Sarah Atuhaire Baryaija-Cofounder of Akaboxi

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Akaboxi secures a Loan

In 2018 Akaboxi won the Sustainability Technology for Africa Award in Uganda organized by Ondernemers Voor Ondernemers(OVO).
Akaboxi was promised support through loan financing of it’s activities to digitize savings groups of smallholder farmers, filling the financial gap. This year 2020 Akaboxi will be also supporting it’s Village saving groups of smallholder farmers by buying and selling their agricultural produce hence creating market.

Inorder to make this financing possible OVO partnered with King Baudouin Foundation, Close the Gap and Orange Hills.

Akaboxi foresees using this loan to grow it’s revenues. On top of the loan Akaboxi has received business development mentorship from OVO, proper financial management that needs inorder to successfully manage the loan and the business it’s self.
They are looking into raising more money to expand their business throughout Uganda and Sub-Saharan Africa.

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Akaboxitech wins ‘iStartUp’

At the start of 2020, Akaboxi team set out on a journey to apply and be part of the Prize D4D a biennial initiative of the Royal Museum for Central Africa (RMCA) supported by the Directorate-General for Development Cooperation and Humanitarian Aid (DGD).

Prize D4D consists of three categories:

    • The innovative idea / startup – ‘iStartUp’
      The success story – ‘iStandOut’
  • The public award – ‘iChoose’

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Catapult @ the Lhoft

We were proud to be among the 11 Fintech companies startups operating in Africa that were selected to be at the LHOFT .

The LHoFT strongly believes that financial technology is crucial to advancing financial inclusion, empowering groups that have been left behind by the traditional financial systems. Whether it’s financing for rural farmers, a point of sale technology for underbanked merchants, or specialized insurance products, the positive impact is driven by entrepreneurship is improving lives around the world.

CATAPULT: Inclusion Africa is a unique program of Fintech development from the LHoFT, aligned with sustainability goals of Luxembourg’s finance center. CATAPULT: Inclusion Africa leverages Luxembourg’s Inclusive Finance and Fintech ecosystem to support the 14 selected firms in developing their businesses and achieving their inclusion goals.

Luxembourg is the European leader in responsible investment fund assets, accounting for 31% of funds and 39% of all assets under management, and has an extensive ecosystem of supporting initiatives and institutions.

The program provided AKABOXI a catapult on what it looks to provide financial inclusion on a global perspective and leveraging on the European market.
It provided a platform to also interact with other startups that had moved great strives.

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