Financial Inclusion for Refugees (FI4R) Results of Round 3 Diaries

This report details the results of the third round of financial diaries conducted by BFA Global for the Financial Inclusion for Refugees (FI4R) project in Uganda. The study tracks the financial strategies of refugees in the Bidi Bidi, Palorinya, and Nakivale settlements, focusing on the impact of COVID-19 on income and the potential for digitizing savings group products through partners like VisionFund Uganda, Rural Finance Initiative (RUFI), and Equity Bank Uganda Limited.

• The COVID-19 pandemic caused a significant decline in refugee livelihoods, reducing income from regular employment due to school closures and decreasing self-employment revenue because of travel restrictions. This led to a general reduction in the use of financial instruments, with the exception of shop credit.
• Non-employment income, consisting of support from governments, NGOs, and aid agencies, remains the primary and most consistent source of income for refugees, especially as other diversified sources are affected by seasonal factors and pandemic restrictions.
• Cash remains the dominant medium for transactions and income payments. For example, agricultural, other, and rental income were paid 100% in cash in both Round 2 and Round 3, and 100% of activities such as saving in ASCAs, ROSCAs, and keeping money at home are conducted in cash.
• Refugee households experienced severe health and educational disruptions during the study period; 53% of respondents were hospitalized or cared for relatives in hospitals, and half of the household population had children sent home from school due to COVID-19 or a lack of school fees.
• While savings group members are open to digitization, significant barriers exist, including low smartphone ownership (only 27% have smartphones, while 71% use basic phones), high transaction costs, and a lack of proximity to bank or mobile money agents.
• Digitization of savings groups is perceived to have both positive and negative impacts on group dynamics. Benefits include increased privacy and reduced time spent on recording transactions, while concerns include the potential for reduced meeting attendance and difficulties in sharing out funds due to mobile money charges.

APA

FSD Africa (2021). Financial Inclusion for Refugees (FI4R) Results of Round 3 Diaries. https://fsdafrica.org/wp-content/uploads/2025/05/FI4R-Diaries-Round-3-Insights-Digitization-of-saving-groups-1.pdf

Chicago

FSD Africa. Financial Inclusion for Refugees (FI4R) Results of Round 3 Diaries. 2021. https://fsdafrica.org/wp-content/uploads/2025/05/FI4R-Diaries-Round-3-Insights-Digitization-of-saving-groups-1.pdf.

Wikipedia

{{cite report |author=FSD Africa |title=Financial Inclusion for Refugees (FI4R) Results of Round 3 Diaries |date=4 August 2021 |url=https://fsdafrica.org/wp-content/uploads/2025/05/FI4R-Diaries-Round-3-Insights-Digitization-of-saving-groups-1.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{fsdafrica2021financial, author = {{FSD Africa}}, title = {{Financial Inclusion for Refugees (FI4R) Results of Round 3 Diaries}}, institution = {FSD Africa}, year = {2021}, month = aug, url = {https://fsdafrica.org/wp-content/uploads/2025/05/FI4R-Diaries-Round-3-Insights-Digitization-of-saving-groups-1.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }