EFC Uganda Limited (EFCUL), also known as EFC Uganda, is a microfinance deposit-taking institution (MDI) in Uganda whose license was withdrawn and liquidated by Bank of Uganda on 19 January 2024.[1]
| Company type | Private |
|---|---|
| Industry | Financial services |
| Founded | 2012 |
| Headquarters | EFC House, Plot 45 Kira Road, Kamwokya, Kampala, Uganda |
Key people | Charles Nalyaali Chairman Michael Ssekyondwa Managing Director |
| Products | Loans, savings |
| Total assets | UGX:112.8 billion (2021) |
Number of employees | 136 (2021) |
| Website | efcug |
Location edit
The headquarters of EFCUL are located at Plot 45 Kira Road, Kamwokya - Kololo Kololo Hill in the Kampala Central Division, about 3.5 kilometres (2 mi) north of the central business district of Kampala, Uganda's capital and largest city.[2] The coordinates of the institution's headquarters are 00°20'12.0"N, 32°35'15.0"E (Latitude:0.336667; Longitude:32.587500).[3]
Overview edit
The institution opened in Uganda in June 2012 as Entrepreneurs Financial Center Limited, with one branch in Ndeeba in the Lubaga Division of Kampala.[4] In November 2014, EFCUL was awarded an MDI banking license by the Bank of Uganda, adopting the name EFC Uganda Limited.[5] As of December 2021, EFCUL owned assets of UGX:112.8 billion, with shareholders' equity of UGX:12.982 billion. At that time, the institution employed 136 staff.[6] EFCUL focuses on financing micro, medium, and small enterprises.[7] In December 2015, EFCUL received a loan of UGX:10 billion for onward lending to micro, small, and medium-sized businesses.[8]
edit
As of August 2016, the shareholding in the stock of the company was as depicted in the table below:[9]
| Rank | Name of Owner | Percentage Ownership |
|---|---|---|
| 1 | Développement international Desjardins of Canada | |
| 2 | AfricInvest Financial Sector Limited of Mauritius | |
| 3 | Uganda Gatsby Trust of Uganda | |
| 4 | BIO of Belgium | |
| 5 | Bamboo Financial Inclusion Fund of Mauritius | |
| 6 | ASN-Novib Microcredit Fund of the Netherlands | |
| 7 | EFC Uganda Employee Stock Ownership Fund[4] | |
| 8 | EFC Uganda Customer Stock Ownership Fund[4] | |
| Total | 100.00 |
Branches edit
As of December 2015[update], the institution maintained networked branches at the following locations:[10]
- Kololo Branch - Ground Floor, Acacia Place Building, 6 Acacia Avenue, Kololo, Kampala
- Ndeeba Branch - Master Wood Plaza, 1156 Kampala-Masaka Road, Ndeeba, Kampala Main Branch
- Kireka Branch - 1525 Kampala-Jinja Road, Kireka
- Nansana Branch - Kampala-Hoima Road, Nansana
- Nateete Branch - 1396 Kampala-Masaka Road, Nateete
- Mukono branch
See also edit
References edit
- ^ "BoU closes EFC Uganda Limited". Monitor. 2024-01-19. Retrieved 2024-01-19.
- ^ Globefeed.com (12 August 2016). "Distance between Post Office Building, Kampala Road, Kampala, Central Region, Uganda and Riders' Lounge, Kampala, Uganda". Globefeed.com. Retrieved 12 August 2016.
- ^ Google (12 August 2016). "Location of the Headquarters of EFC Uganda Limited" (Map). Google Maps. Google. Retrieved 12 August 2016.
- ^ a b c EFCUL (12 August 2016). "EFC Uganda: Who We Are". Kampala: EFC Uganda Limited (EFCUL). Retrieved 12 August 2016.
- ^ BOU (30 June 2015). "Bank of Uganda Annual Report for the Period 1 July 2014 Until 30 June 2015" (PDF). Kampala: Bank of Uganda (BOU). Archived from the original (PDF) on 20 August 2016. Retrieved 12 August 2016.
- ^ Lafond, Claude (31 December 2015). "Managing Director's Message". Kampala. Retrieved 12 August 2016.
- ^ EFC Uganda Limited (27 June 2016). "EFC Uganda Limited: Advertisement for Three Staff Positions". New Vision. Kampala. Retrieved 12 August 2016.
- ^ Mark Keith Muhumuza (4 December 2015). "SMEs to benefit from Shs10b Dutch government loan". Daily Monitor. Kampala. Retrieved 12 August 2016.
- ^ EFCUL (12 August 2016). "EFC Uganda Limited: List of Investors". Kampala: EFCUL. Retrieved 12 August 2016.
- ^ EFCUL (12 August 2016). "EFC Uganda: About Us: Contact Us". Kampala: EFC Uganda Limited (EFCUL). Retrieved 12 August 2015.