- Source: Pride Microfinance Limited
Pride Microfinance Limited (PMFL), is a microfinance deposit-taking institution (MDI) in Uganda. It is licensed by the Bank of Uganda, the central bank and national banking regulator.
PMFL provides financial services to that segment of the Ugandan population who are not served or are unable to access financial services through Ugandan commercial banks. PMFL's focus are the micro, small, and medium size entrepreneurs. As an MDI, PMFL is a Tier III Financial Institution. It is therefore prohibited from dealing in foreign exchange and cannot issue checking accounts.
As of December 2013, the institution's total assets were valued at approximately US$56.84 million (UGX:147.4 billion), with shareholders' equity of approximately US$18.1 million (UGX:46.97 billion). As of December 2013, Pride Microfinance employed 585 people and served 373,667 customers.
History
PMFL was founded in 1995 as a non-governmental organization with the support of the Norwegian Agency for Development Cooperation. Its major objective was to offer credit to the poor, targeting those in the agricultural sector.
In 1999, it was incorporated as a limited company and changed its name to Pride Africa Uganda Limited.
In 2003, the Uganda government acquired 100 percent shareholding in the enterprise, changing the name to Pride Microfinance Limited Uganda.
In 2005, it attained the status of an MDI according to the Banking Act of 2003.
It is a member of the Association of Microfinance Institutions In Uganda.
In February 2016, Ugandan media reported that the government was planning to merge PMFL with PostBank Uganda, to form an agricultural bank.
Products
As of June 2014, the products offered included:
= Deposit products
=Pride Smart Savings Account
Pride Akiba Savings Account
Fixed Deposit Account
Minor’s Savings Account
Group Savings Account
Loan Insurance Fund
Save As You Earn (SAYE) Account
= Loan products
=Group Guaranteed Loans
Individual Loans
Salary Loans
Mortgage and Asset Financing Loan
Agricultural Loan Scheme
School Fees Loan
= Other services
=Money Transfer Services - Through Western Union and MoneyGram
Death, disability, and catastrophe insurance products to loan clients - Offered through AIG Insurance.
Branch network
The entire branch network of the company included the following locations, as of June 2014:
Arua Branch - Avenue Road, Arua
Bugiri Branch - Mivule Road, Bugiri
Bukoto Branch - Victoria Office Park, 6-9 Ben Kiwanuka Okot Close, Bukoto, Kampala Main Branch
Bushenyi Branch - High Street, Bushenyi
Buwenge Branch - Kamuli Road, Buwenge
Kampala City Branch - Mukwano Arcade, Kampala
Fort Portal Branch - Rukidi Road, Fort Portal
Gulu Branch - Cemetery Road, Gulu
Entebbe Road Branch - Metropole House, Entebbe Road, Kampala
Hoima Branch - Old Tororo Road, Hoima
Ibanda Branch - High Street, Ibanda
Iganga Branch - Main Street, Iganga
Ishaka Branch - Rukungiri Road, Ishaka
Jinja Branch - Main Street, Jinja
Kabalagala Branch - Muyenga Road, Kabalagala
Kabale Branch - Kabale Road, Kabale
Kabingo Branch - Kabingo Trading Center, Isingiro District
Kabwohe Branch - Mbarara Road, Kabwohe
Kagadi Branch - High Street, Kagadi
Kasese Branch - Saad Building, Kasese
Katwe Branch - Katwe Road, Katwe
Kawempe Branch - Bombo Road, Kawempe
Lira Branch - Oboe Avenue, Lira
Lugazi Branch - Ntenga Road, Lugazi
Masaka Branch - Kampala Road, Masaka
Mbale Branch - Republic Street, Mbale
Mbarara Branch - High Street, Mbarara
Mukono Branch - Kampala-Jinja Highway, Mukono
Nakawa Branch - UMA Show Ground, Nakawa
Naakulabye Branch - Hoima Road, Basiriak Building, Naakulabye
Nateete Branch - Masaka Road, Nateete
Pader Branch - Main Street, Pader
Rukungiri Branch - Rukungiri Road, Rukungiri
Soroti Branch - Solot Avenue, Soroti
Wandegeya Branch - Bombo-Gayaza Roundabout, Wandegeya
See also
Banking in Uganda
List of banks in Uganda
FINCA Uganda Limited
Finance Trust Bank
References
External links
History of Pride Microfinance
Kata Kunci Pencarian:
- Pride Microfinance Limited
- UGAFODE Microfinance Limited
- List of microfinance deposit-taking institutions in Uganda
- Pride (disambiguation)
- FINCA Uganda Limited
- BRAC Uganda Bank Limited
- Kawempe
- Equity Bank Uganda Limited
- Bukoto
- List of banks in Africa
