UGAFODE Microfinance Limited, commonly known as UGAFODE, is a microfinance institution in Uganda. It is registered and licensed as microfinance deposit-accepting institution (MDI) by the Bank of Uganda, the central bank and national banking regulator.[3] UGAFODE was the fourth MDI registered in Uganda.[4][5]
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.[6]
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[update], 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).[9]
Branch networkedit
As of December 2013[update], the institution maintained branches at the following locations, arranged alphabetically:[10]
^BOU (31 March 2015). "List of Licensed Microfinance Deposit-Taking Institutions (MDIs)" (PDF). Kampala: Bank of Uganda (BOU). Retrieved 14 August 2016.
^Vision, Reporter (12 July 2011). "Suruma To Start Micro-Finance Bank". New Vision. Archived from the original on 2 July 2014. Retrieved 29 June 2014.
^"Licensed Microfinace Deposit-Taking Institutions (MDIs)" (pdf). Bank of Uganda. June 30, 2022.
^UGAFODE. . UGAFODE Microfinance Limited. Archived from the original on 3 November 2012. Retrieved 29 June 2014.
^. Brookings Institution. 23 April 2010. Archived from the original on 4 March 2016. Retrieved 29 June 2014.
^Mbanga, Jeff (27 September 2012). "National Bank of Commerce closed". The Observer (Uganda). Retrieved 29 June 2014.
^↑MixMarket (31 March 2014). . MixMarket.org. Archived from the original on 7 April 2012. Retrieved 29 June 2014.
^UGAFODE. . UGAFODE Microfinance Limited. Archived from the original on 3 November 2012. Retrieved 29 June 2014.
April 11, 2024
ugafode, microfinance, limited, commonly, known, ugafode, microfinance, institution, uganda, registered, licensed, microfinance, deposit, accepting, institution, bank, uganda, central, bank, national, banking, regulator, ugafode, fourth, registered, uganda, co. UGAFODE Microfinance Limited commonly known as UGAFODE is a microfinance institution in Uganda It is registered and licensed as microfinance deposit accepting institution MDI by the Bank of Uganda the central bank and national banking regulator 3 UGAFODE was the fourth MDI registered in Uganda 4 5 UGAFODE Microfinance LimitedCompany typePrivate companyIndustryFinancial servicesFounded1994 30 years ago 1994 HeadquartersKampala UgandaKey peopleBen Kiregyerachairman 1 Wilson Twamuhabwachief executive officer 2 ProductsLoans savingsTotal assetsUS 10 065 million UGX 25 34 billion March 2014 Number of employees158 March 2014 Websitewww wbr ugafode wbr co wbr ug Contents 1 History 2 Branch network 3 See also 4 ReferencesHistory editUGAFODE 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 6 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 7 Suruma also had an ownership interest in the National Bank of Commerce Uganda a Tier I commercial bank which was closed in 2012 8 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 update 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 9 Branch network editAs of December 2013 update the institution maintained branches at the following locations arranged alphabetically 10 Bombo Road Branch Silva Arcade 62 Bombo Road Kampala Main Branch Ibanda Branch Adam s Building Main Street Ibanda Ishaka Branch 33 Rukungiri Road Ishaka Kagadi Branch 241 242 Isunga Road Kagadi Kyotera Branch 184 753 Mutukula Road Kyotera Lira Branch Plot 8A Soroti Road Lira Lyantonde Branch 215 76 Main Street Lyantonde Mbarara Branch 23 Bananuka Drive Mbarara Mpigi Branch Continental House Mpigi Nkrumah Road Branch 11 13 Nkrumah Road Kampala Ntungamo Branch 69A Kabale Road Ntungamo Rubaga Road Branch 22 Namirembe Road Kampala Rukungiri Branch 5 Rubabo Road Rukungiri Lira Branch Plot 8A Soroti Road Lira Lira Nakivale Refugees settlement Branch IsingiroSee also editBanking in Uganda List of banks in Uganda Pride Microfinance Limited FINCA Uganda Limited Finance Trust BankReferences edit UGAFODE Board of Directors Kampala UGAFODE Microfinance Limited Retrieved 15 August 2016 UGAFODE Management Team Kampala UGAFODE Microfinance Limited Retrieved 15 August 2016 BOU 31 March 2015 List of Licensed Microfinance Deposit Taking Institutions MDIs PDF Kampala Bank of Uganda BOU Retrieved 14 August 2016 Vision Reporter 12 July 2011 Suruma To Start Micro Finance Bank New Vision Archived from the original on 2 July 2014 Retrieved 29 June 2014 Licensed Microfinace Deposit Taking Institutions MDIs pdf Bank of Uganda June 30 2022 UGAFODE Profile of UGAFODE Microfinance Limited UGAFODE Microfinance Limited Archived from the original on 3 November 2012 Retrieved 29 June 2014 Ezra Suruma Former Ugandan Finance Minister Joins Brookings Brookings Institution 23 April 2010 Archived from the original on 4 March 2016 Retrieved 29 June 2014 Mbanga Jeff 27 September 2012 National Bank of Commerce closed The Observer Uganda Retrieved 29 June 2014 MixMarket 31 March 2014 MFI Report UGAFODE Microfinance Limited MDI 31 March 2014 MixMarket org Archived from the original on 7 April 2012 Retrieved 29 June 2014 UGAFODE List of UGAFODE Branches UGAFODE Microfinance Limited Archived from the original on 3 November 2012 Retrieved 29 June 2014 Retrieved from https en wikipedia org w index php title UGAFODE Microfinance Limited amp oldid 1145812332, wikipedia, wiki, book, books, library,
