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FINCA Uganda Limited

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FINCA Uganda Limited

FINCA Uganda Limited
Type Private
Industry Financial Services
Founded 1992
Headquarters 22 Ben Kiwanuka Street,
Kampala, Uganda
Key people Julius Omoding
Chief Executive Officer
Products Loans, Savings
Total assets US$17.6 million (2009)[1]
Employees 460+
Website Homepage

FINCA Uganda Limited, also known as FINCA Uganda, is an MDI (Microfinance Deposit-taking Institution) in Uganda. It is a subsidiary and member organization of FINCA International, headquartered in the United States of America.

Location

The headquarters of FINCA Uganda Limited are located at 22 Ben Kiwanuka Street, in Central Kampala, Uganda's capital city. This location, on the western slopes of Nakasero Hill, is in the Kampala's central business district. The coordinates of this location are: Latitude:0.3108; Longitude:32.5767).

Overview

FINCA Uganda Limited is licensed as a Microfinance Deposit-taking Institution (MDI). Its MDI license was issued in 2004.[2] The institution provides financial services to Uganda's lowest-income entrepreneurs with the aim of creating jobs, building assets and improve their standard of living.[3] As an MDI, FINCA Uganda is a Tier III Financial Institution. It is therefore prohibited from dealing in foreign exchange and cannot issue checking accounts. As of December 2009, the institution's asset base was in excess of US$17.6 million, with over 40,000 deposit accounts and over 45,000 loan accounts. The shareholders' equity in the institution totaled about US$8.2 million at that time.[4]

Products and services

FINCA Uganda offers a wide range of financial services including:

  • Group Loans
  • Individual Loans
  • Payroll Loans
  • Voluntary Savings Accounts
  • Compulsory Savings Accounts
  • Village Phone Loans
  • Credit Life Insurance
  • Health Insurance

In keeping with the mission objectives of the institution, the majority of loans (66%) are made to poor entrepreneurial women, with an average loan being US$220.

Branches

As of September 2010, the institution maintains twenty-two inter-linked branches nationwide.

See also

References

External links

  • FINCA International Website
  • About FINCA Uganda Limited
  • FINCA Uganda Introduces Biometric Banking

Coordinates: 00°18′41″N 32°34′53″E / 0.31139°N 32.58139°E / 0.31139; 32.58139

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