UGAFODE Microfinance Limited, commonly called UGAFODE, is a microfinance deposit-accepting institution (MDI) in

Uganda }), is a landlocked country in East Africa East Africa, Eastern Africa, or East of Africa, is the eastern subregion of the African continent. In the United Nations Statistics Division scheme of geographic regions, 10-11-(16*) territor ...

. It is licensed and supervised by the

Bank of Uganda The Bank of Uganda ( sw, Benki Kuu ya Uganda) is the central bank of Uganda. Established in 1966, by Act of Parliament, the bank is wholly owned by the government but is not a government department. History In 1979 and again in 1987, the Ba ...

, the central bank and national banking regulator.

Location

The headquarters of UGAFODE are located at 62 Silva Arcade, Bombo Road in the central business district of

Kampala Kampala (, ) is the capital and largest city of Uganda. The city proper has a population of 1,680,000 and is divided into the five political divisions of Kampala Central Division, Kawempe Division, Makindye Division, Nakawa Division, and Ruba ...

, Uganda's capital and largest city. The coordinates of UGAFODE headquarters are:0°19'42.0"N, 32°34'26.0"E (Latitude:0.328322; Longitude:32.573889).

Overview

UGAFODE was the fourth MDI in Uganda. An application was made to the Bank of Uganda for the issuance of an MDI banking license. In October 2011, a Tier III MDI licence was granted, and MDI operations began on 10 October 2011. As of March 2014, the institution's total assets were about US$10.07 million (UGX:25.34 billion), with shareholders' equity of about US$2.25 million (UGX:5.66 billion).

History

UGAFODE was founded in 1994 as the Uganda Agency for Development Limited, a

non-governmental organization A non-governmental organization (NGO) or non-governmental organisation (see spelling differences) is an organization that generally is formed independent from government. They are typically nonprofit entities, and many of them are active in h ...

whose primary objective was to provide affordable financial services to its customers. In September 2010, in preparation to become an MDI, UGAFODE Microfinance Limited was incorporated as a limited company. In 2011, the institution accepted eight new shareholders, including

Ezra Suruma Ezra Suruma (born 11 November 1945), is a Ugandan economist, banker, and academic. He became the chancellor of Makerere University in January 2016. He formerly served as a senior adviser to the president of Uganda on finance and economic plannin ...

, Uganda

minister of finance A finance minister is an executive or cabinet position in charge of one or more of government finances, economic policy and financial regulation. A finance minister's portfolio has a large variety of names around the world, such as "treasury", " ...

from 2005 until 2009 and senior adviser for finance and planning to the

President of Uganda The president of the Republic of Uganda is the head of state and the head of government of Uganda. The president leads the executive branch of the government of Uganda and is the commander-in-chief of the Uganda People's Defence Force. The in ...

. Suruma also had an ownership interest in the

National Bank of Commerce (Uganda) National Bank of Commerce (Uganda) (NBCU) was a commercial bank in Uganda. Overview The bank provides banking services to individuals and to small and medium business enterprises. As of April 2009, the bank was the 22nd largest commercial bank ...

, a Tier I

commercial bank A commercial bank is a financial institution which accepts deposits from the public and gives loans for the purposes of consumption and investment to make profit. It can also refer to a bank, or a division of a large bank, which deals with cor ...

, which was closed in 2012.

Branch network

As of December 2013, the institution maintained branches at the following locations, arranged alphabetically: # Bombo Road Branch - Silva Arcade, 62 Bombo Road,

Main Branch # Ibanda Branch - Adam's Building, Main Street,

Ibanda Ibanda is a town in the Western Region of Uganda. It is the main political, administrative, and commercial centre of Ibanda District and the site of the district headquarters. It started wayback in 1990s and was elevated from a trading centre ...

# Ishaka Branch - 33 Rukungiri Road,

Ishaka Ishaka is a town in the Western Region of Uganda. It is one of the municipalities in Bushenyi District. Location Ishaka is located in Igara County, in Bushenyi District, approximately , by road, west of Mbarara, the largest city in the sub-regio ...

# Kagadi Branch - 241-242 Isunga Road,

Kagadi Kagadi is a town in the Western Region of Uganda. It is the commercial and administrative headquarters of Kagadi District. Location Kagadi is in Buyaga County, approximately south-west of Hoima, the largest town in the Bunyoro sub-region. This ...

# Kyotera Branch - 184-753 Mutukula Road,

Kyotera Kyotera is a town in the southern part of the Central Region of Uganda. It is a municipality in Kyotera District. However, the district headquarters are located at Kasaali. Location Kyotera is located in the newly-created Kyotera District. It l ...

# Lira Branch - Plot 8A, Soroti Road,

Lira Lira is the name of several currency units. It is the current currency of Turkey and also the local name of the currencies of Lebanon and of Syria. It is also the name of several former currencies, including those of Italy, Malta and Israe ...

# Lyantonde Branch - 215-76 Main Street,

Lyantonde Lyantonde is a town in the southern part of the Central Region of Uganda. It is the main municipal, administrative, and commercial center of Lyantonde District. Location Lyantonde is approximately , by road, west of Masaka, the nearest large ...

# Mbarara Branch - 23 Bananuka Drive,

Mbarara Mbarara City is a city in the Western Region of Uganda and the second largest city in Uganda after Kampala. The city is divided into 6 boroughs of Kakoba Division, Kamukuzi Division, Nyamitanga Division, Biharwe Division, Kakiika Division, Nyakay ...

# Mpigi Branch - Continental House,

Mpigi Mpigi is a town in Mawokota County, Mpigi District, in Central Uganda. Mpigi is the municipal, administrative and commercial headquarters of Mpigi District. The district is named after the town. Location Mpigi is an important transit town locat ...

# Nkrumah Road Branch - 11/13 Nkrumah Road,

# Ntungamo Branch - 69A Kabale Road,

Ntungamo Ntungamo is a town in the Western Region of Uganda. It is the largest town in Ntungamo District and the site of the district headquarters. Location Ntungamo is about , by road, southwest of the city of Mbarara, the largest city in Uganda's West ...

# Rubaga Road Branch - 22 Namirembe Road,

# Rukungiri Branch - 5 Rubabo Road,

Rukungiri Rukungiri is a town in Rukungiri District of the Western Region of Uganda. It is the site of the district headquarters. Location Rukungiri is approximately , by road, north of Kabale, the largest city in the Kigezi sub-region. This is about , ...

# Lira Branch - Plot 8A Soroti Road, Lira,

# Nakivale Refugees settlement Branch,

Isingiro Isingiro is a town in the Western Region of Uganda. It is the main municipal, administrative, and commercial center of Isingiro District and the site of the district's headquarters. Location Isingiro is approximately , by road, southeast of ...

References

External links