UGAFODE Microfinance Limited (MDI), commonly known as UGAFODE, is a microfinance institution in Uganda. It is registered and licensed as microfinance deposit-taking institution (MDI) by the Bank of Uganda, the Central Bank and national banking regulator. UGAFODE was the fourth MDI registered in Uganda.
History UGAFODE was founded in 1994 as the Uganda Agency for Development Limited, a non-governmental organization 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, Uganda minister of finance from 2005 until 2009 and senior adviser for finance and planning to the President of Uganda. Suruma also had an ownership interest in the National Bank of Commerce (Uganda), a Tier I commercial bank, which was closed in 2012.
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.
, 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).
Branch network , the institution maintained branches at the following locations, arranged alphabetically:
Bombo Road Branch/ SME Suite - Silva Arcade, 62 Bombo Road, Kampala Head Office Ibanda Branch - Adam's Building, Main Street, Ibanda Ishaka Branch - 33 Rukungiri Road, Ishaka Jinja Branch - Jinja Kagadi Branch - 241-242 Isunga Road, Kagadi Kyarushesha Branch - Kikuube Kyotera Branch - 184-753 Mutukula Road, Kyotera Lira Branch - Plot 8A, Soroti Road, Lira Lyantonde Branch - 215-76 Main Street, Lyantonde Mbale Branch - Mbale Mbarara Branch - 23 Bananuka Drive, Mbarara Mpigi Branch - Continental House, Mpigi Nakasero Branch - Nakasero, Kampala Nansana Branch - 11/13 Nansana, Wakiso Ntungamo Branch - 69A Kabale Road, Ntungamo Rubaga Road Branch - 22 Namirembe Road, Kampala Rukungiri Branch - 5 Rubabo Road, Rukungiri Rushere Branch - Kiruhura Sembabule Branch - Sembabule Lira Branch - Plot 8A Soroti Road, Lira, Lira Nakivale Refugees settlement Branch, Isingiro
Sales and customer service centres Kitagwenda Sales and Customer Service Centre, Kitagwenda Kyangwali Sales and Customer Service Centre, Kikuube Rubaale Sales and Customer Service Centre, Ntungamo Rubondo Sales and Customer Service Centre, Isingiro
See also Banking in Uganda List of banks in Uganda Pride Microfinance Limited FINCA Uganda Limited Finance Trust Bank
References