Products Loans, savings Founded 1995 | Website Homepage Number of employees 585 | |
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Key people Charles Oleny OjokchairmanVeronicah Namagembemanaging director Revenue Aftertax:$4.5 million (UGX:11.7 billion) (2013) Total assets 56.84 million USD (2013, UGX:147.4 billion) | ||
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.
Contents
Location
The headquarters of PMFL are in Victoria Business Park, in Bukoto, a north-eastern neighborhood in Nakawa Division, an administrative area within Kampala, Uganda's capital and largest city. This location is approximately 6.5 kilometres (4.0 mi), by road, outside the city's central business district. The coordinates of this location are +0° 20' 41.00"N, +32° 35' 40.00"E (Latitude:0.344723; Longitude:32.594445).
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.
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.
Overview
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.
Products
As of June 2014, the products offered included:
Deposit products
Loan products
Other services
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 Brach - 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