funding gap emerging markets
Uganda

Entrepreneur Financial Centre 2

  • EFC Uganda
  • Local partner investment
  • + 188 other investors
  • With a loan of EUR 74,850 the 13 taxi-drivers will be able to replace their cars and meet the new standards of The Civil Aviation Authority with regards to a carbon neutral environment.

    €74,850
    Amount
    4.00%
    Interest
    24 months
    Maturity
    6 months
    Repayments
    EUR
    Currency
    Amount€74,850
    Interest4.00%
    Maturity24 months
    Repayments6 months
    CurrencyEUR
      100%
      Fully funded in 4 days on 4 May 2019.
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      Summary

      Buyonga Airport Taxi Project

      The government of Uganda passed a policy which banned vehicles that are 15 years old and beyond. The Civil Aviation Authority (CAA) decided to implement this with all Taxi cabs currently operating at Entebbe Airport. This is in a bid to implement the best practices in carbon management, with an objective of creating a carbon neutral environment. The same has been pushed for all ground handling service providers.

      Through this campaign CAA now carries out motor vehicle inspections every six months and cars in poor mechanical condition are barred from accessing the airport or at times, owners advised to buy new ones.

      Over 250 cabs operate from Entebbe Airport where CAA has given a deadline of July 2019 by which if any driver has not complied, they will be denied access to the airport for further services. This means that several families are being put to a threat of having no steady income if these drivers are cut off from their jobs.

      EFC has therefore moved in to support and partner with the Buyonga Airport Taxi Association and ensure continuity of service by helping them acquire motor vehicles that meet this required standard and also partner with CAA to ensure that they achieve their strategy of reducing carbon emission at the airport.

      25 drivers have been identified and 13 have so far been booked as a pilot starting off this project with the drivers’ association to help them acquire motor vehicles.

      1.       Joseph Ssekyonda

      Joseph has been working under the airport association for now 9 years and owned a Toyota wish manufactured in 2001 which does not meet the required airport standard. EFC is acquiring a Toyota Alphard manufacture in 2012

      2.       Gerald Kasozi

      Gerald has worked with the airport association for now 17 years. EFC is purchasing for him a Van - super custom manufactured in 2011

      3.       Patrick Ndiwalana

      Patrick has worked with the taxi association since 2008. EFC is purchasing a saloon car (Toyota Premio) for him manufactured in 2012

      4.       Abdul Byarugaba

      Abdul has worked with the taxi association for 11 years. He is changing his car to now a Toyota wish manufactured in 2010

      5.       Brian Akugizibwe

      Brian has worked with the taxi association for 6 years. He is changing his car to now a Toyota wish manufactured in 2010

      6.       Jonathan Sevume

      Jonathan has worked with the taxi association since 2002. EFC is purchasing a saloon car (Toyota Premio) for him manufactured in 2010

      7.       Julius Osele

      Julius has worked with the taxi association for 9 years. He is changing his car to now a Toyota wish manufactured in 2010

      8.       David Calvin Nfamba

      David has worked with the taxi association since 2012. EFC is purchasing a saloon car (Toyota Premio) for him manufactured in 2010

      9.       Hood Kamanzi

      Hood has worked with the taxi association for 6 years. He is changing his car to now a Toyota wish manufactured in 2010

      10.   Christopher Mujuzi

      Christopher has worked with the taxi association for 4 years. He is changing his car to now a Toyota wish manufactured in 2010

      11.   Sam Wamimbi

      Sam has worked with the taxi association since 2013. EFC is purchasing a saloon car (Toyota Premio) for him manufactured in 2009

      12.   David Balwaniransi

      David has worked with the taxi association since 2001. EFC is purchasing him a second vehicle, a saloon car (Toyota Vista)

      13.   Joseph Musisi Nsereko

      Joseph has been working under the airport association for now 16 years and owned a Toyota wish manufactured in 2003 which does not meet the required airport standard. EFC is acquiring a Toyota Noah (2010)

      Company nameEntrepreneur Financial Centre 2
      CEOJoseph Ssekyonda
      Founded2010-07-15
      LocationEntebbe
      SectorServices
      Turnover€100,000
      Employees26

      Impact

      Entrepreneur Financial Centre (EFC) supports a wide range of entrepreneurs and agricultural cooperatives within different sectors in Uganda. Their loans enable job creation, working capital, and working material for underserved SMEs, allowing better living and working conditions within local communities. In Uganda, there's a strong demand for impact capital to enable organizational improvement and economic growth, helping the country reach its full economic potential

       

      SDGs impacted

      With this project you are contributing to the following Sustainable Development Goals:

      SDG 1 - No poverty

      SDG 8 - Decent work and economic growth

      SDG 10 - Reduced inequalities

      Read more about the impact you can make through our platform and the SDGs on our impact page.

       

      Related blog posts

      • One of the cooperatives that get's funding with EFC is a taxi park in Uganda. Read here about the importance of decent transportation in emerging markets. 
         
      • We even made an Impact Explainer video about the subject, watch here.
         
      • Wondering which other microfinance institutions we have in our portfolio? Check them out here.
      • With this investment 5 jobs are created
      • With this investment 26 people are reached

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      We have already contributed for Entrepreneur Financial Centre 2

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