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Opportunity Uganda Limited

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Opportunity Uganda Limited

Opportunity Bank Uganda Limited
Type Private
Industry Financial Services
Founded 1995
Headquarters 7A John Babiiha Avenue
Kololo, Kampala, Uganda
Key people André Lalumière, CEO
Products Loans, Savings, ATM, mobile banking
Revenue DecreaseAftertax:233,200 (2011)
Total assets US$19.9 million (2012)[1]
Employees 302 (2012)
Website [1]

Opportunity Bank Uganda Limited (OBUL), is a credit institution (Tier II Financial Institution) in Uganda. In November 2011, the institution rebranded as Opportunity Bank Uganda.

Location

The head offices of Opportunity Bank Uganda Limited are located at 7 Babiiha Avenue, on Kololo Hill, an upscale business and residential neighborhood, within the city of Kampala, Uganda's capital.[2] The coordinates of the company headquarters are:00 19 48N, 32 35 13E (Latitude:0.3300; Longitude:32.5980).

Overview

Opportunity Bank Uganda Limited is a Tier II Financial Institution (MFI). It is not authorized to offer checking accounts or deal in foreign exchange. The company is authorized to take in customer deposits and to establish savings accounts. It is also authorized make collateralized and non-collateralized loans to savings and non savings customers. The company is a wholly owned subsidiary of Opportunity International and is a member of their network. They specialize in lending to the poorest of the working poor. As of December 2011, the institution's total assets were in excess of US$19.9 million, with shareholder's equity of approximately US$8.9 million.[3]

History

This microfinance institution was licensed in 1995 and began operations in 1996 as FAULU Uganda, a programme of Food for the Hungry International, an NGO. In July 1999, Faulu Uganda incorporated as a limited liability company in Uganda, becoming FAULU Uganda Limited. Under that name, the company became part of the FAULU network in Uganda and Kenya.[4]

In 2006, Opportunity Transformation Investments and Opportunity International Australia, each purchased a 31.5% stake in FAULU Uganda Limited, giving Opportunity International a combined majority stake of 63% in the fourth largest microfinance institution in Uganda.[5] In December 2009, Opportunity bought the remaining shares of FAULU Uganda, thereby taking outright ownership of the company. The financial institution was renamed Opportunity Uganda Limited.[6] In November 2011, the institution rebranded to Opportunity Bank Uganda.[7]

Ownership

The company is 100% owned by Opportunity International network through four different entities, as of December 2012.

Branch Network

The branch network of Opportunity Uganda Limited includes the following locations: [8]

  1. Main Branch - Babiiha Avenue, Kololo, Kampala
  2. Kawempe Branch - Kawempe, Kampala[9]
  3. Owino Market Branch - Nakivubo Road, Kampala
  4. Nateete Branch - Nateete, Kampala
  5. Kira Road Branch - Kira Road, Kamwokya, Kampala
  6. Jinja Branch - Jinja
  7. Iganga Branch - Iganga
  8. Mbarara Branch - Mbarara
  9. Masaka Branch - Masaka
  10. Kalagi Branch - Kalagi, Mukono District
  11. Mubende Branch - Mubende
  12. Mayuge Branch - Mayuge
  13. Nansana Branch - Nansana, Wakiso District

See also

External links

  • Opportunity International Buys 100% FAULU Uganda
  • Total Loan Portfolio US$6.06 Million in 2008
  • Opportunity International Partners in Africa
  • Opportunity Uganda Limited Rebrands To Opportunity Bank

References

Coordinates: 00°19′48″N 32°35′13″E / 0.33000°N 32.58694°E / 0.33000; 32.58694

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