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Pride Bank Limited (PBL), is a Tier II credit institution in Uganda. ... changing the name to Pride Microfinance Limited Uganda. [3] In 2005, it attained the status ...
This is a list of regulated "Microfinance Deposit-taking Institutions" in Uganda. They are supervised and regulated by the Uganda Microfinance Regulatory Authority (UMRA). [1] FINCA Uganda Limited [2] Pride Microfinance Limited [2] UGAFODE Microfinance Limited [2]
FINCA Uganda was licensed as an MDI in 2004, although the institution has been in the country since 1992. [4]FINCA provides financial services to Uganda's lowest-income entrepreneurs with the aim of alleviating poverty through lasting solutions that help people to create jobs, build assets, and improve their standard of living.
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]
In the US and Canada, aims of microfinance include the graduation of recipients from welfare programs and an improvement in their credit rating. In the US, microfinance has created jobs directly and indirectly, as 60% of borrowers were able to hire others. [61] According to reports, every domestic microfinance loan creates 2.4 jobs. [62]
Microfinance has also provided non-farming rural citizens with employment opportunities by allowing them to more easily launch small businesses, such as carpentry and food vending. [ citation needed ] Although the adoption of this economic practice is somewhat low in rural households, studies show that if fully adopted, microfinance could ...
The Exposure through Volunteerism, Opportunity Spotting to Kindle Employment (EVOKE); a program which helps continuing students in higher institutions of learning to get short term job placement, internships and volunteer opportunities within Small, medium and micro-enterprises so as to build practical experience, hence get job placements thus ...
As of December 2019, GT Bank Uganda had assets valued at UGX:225 billion (approx. US$58.22 million) with shareholders equity of UGX:38 billion (approx. US$9.83 million).). That calendar year, the institution made UGX:2 billion (approx. $518,000) in pre-tax profit and UGX:1 billion (approx. $259,000) in after-tax profit, the first time the institution was profitable in the previous 12 ye