EFC Uganda
EFC Uganda is a microfinance deposit-taking institution (MDI) in Uganda.
Amount
€ 285,933.00
Type of investment
Equity
Development impacts
- Local economic growth
- Private sector consolidation/innovation
- Financial inclusion
- Access to basic services & goods
Beneficiary locations
Investment field
Financial Institutions
Activity
Microfinance institution
EFC Uganda is a deposit taking MFI which started its operations in July 2012 under the conduct of DID following a management contract model.
EFC offers individual loan products and current and saving accounts to local micro, small and medium enterprises (MSMEs) and the lower income strata of the Ugandan population. It is the fastest growing microfinance institution in Uganda. With a strong commitment to high standards of quality customer service, EFC has two full service branches and five Business Loan Centres at strategic locations in Kampala.
As a responsible shareholder, BIO together with AFS and DID participated in the capital increase of September 2016 to improve the CAR and deploy the business plan. BIO holds a 20% stake in the MFI. The objective of this investment was to strengthen the credit offer to SMEs in Uganda.
Development impacts
-
Local economic growth
EFC offers services to local micro, small and medium enterprises (MSMEs).
-
Private sector consolidation/innovation
Short-term and long-term capacity building training to local staff by founding partner DID.
-
Financial inclusion
Credit services to self-employed individuals.
-
Access to basic services & goods
Home improvement loans represent 31.2% of the total loan portfolio.
Read impact and news about this project
Impact Story
You have to pay money back
22-10-2021
BIO has invested in EFC Uganda, a microfinance deposit-taking institution, both directly and through Africinvest Financial Sector.
Caroline Cherotic is one of EFC Uganda’s many clients. This is her story.
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