The project

EFC Uganda Limited (MDI) is a licensed Microfinance Deposit-taking Institution in Uganda. It was created in 2011 by Développement Desjardins International to provide access to financial services for the underserved SME market segment. The company operates in Kampala with a head office, two branches and five business service centers. EFC Uganda is supervised by the Bank of Uganda and has several reputable shareholders. 

Shem Kakembo is the Managing Director since early 2018. Prior to joining EFC Uganda, Shem worked in leading management positions in financial industry in Uganda and Rwanda since 2003. His latest apointment prior to joining was as Head of Personal Markets (Retail) at Stanbic Bank (Uganda’s largest bank). 

Information document of the issuing company EFC (NL)

Information note of the issuing company EFC (BE)

Loan purpose

With this loan of EUR 200,000 72 members of the Masese B cooperative society can invest in buying milking machines and milk transporting vehicles and purchasing of a bigger space of land for cattle raring to increase the production and efficiency.

The Masese B cooperative society is a sister cooperative to Masese A fish farmers’s association and it is under the same management.

Background

Masese ‘B’ cooperative society has been in existence for 7 years but fully registered their association on 28th April 2017 after being advised that it’s a requirement for them to access borrowing.

Today, the Association has a total of 156 members and are looking forward to having over 200 Members by 2021. All these members are Cattle keepers anf farmers.

The objective of the association is to promote mutual economic interest of its members in accordance with cooperative principles.

Membership

Members shall consist of;

A original members who signed applications for registration.

B New members subsequently submitted in accordance with the association’s by laws and these will be submitted to the commit for approval