Entrepreneur Financial Centre 2

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.

  • Local partner investment
  • 5 new jobs
  • 26 people reached



24 months



Annual interest



6 months

Repayment period
Fully funded in 4 days on 4 May 2019.
+ 188 other investors

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 nameEFC Uganda
CEOJoseph Ssekyonda

Impact of this project

  • With this investment 5 jobs are created
  • With this investment 26 people are reached

About the investment

TypeLocal partner investment
IssuerEFC Uganda
Funding target€74,850
Annual interest4.00%
Maturity24 months
Repayment periodSemiannually
Terms and conditionsShow
Note termsDownload
Information document issuerDownload

About the risks

What are the risks of investing money?

The risk level depends on the specific project. Local partners cover the risk of currency exchange rates and defaults on Local Partner investments. They do this by maintaining financial reserves for this purpose. Aside from that, there is an option to claim their equity if needed. While these measures are intended to minimize the risk to investors, our local partners face risks of their own that could affect their ability to secure your investment. These include - bankruptcy - currency exchange rates - fraud - operational risks - political and regulatory changes - natural disasters or epidemics.

With direct investments, risks of default are not covered. As the risks are higher, so are the interest rates.

There is also some operational risk at Lendahand. An example might be that Lendahand is unable to find shareholders to finance their activities. In such a case, Lendahand will handle outstanding investments at the best of its ability. At the same time, our ability to legally address non-payment from local partners becomes understandably difficult.

How does Lendahand minimize the risks?

Every local partner must share our social mission to ensure local entrepreneurs can access affordable financing, allowing them to grow their business. Local partners must also have a 'track record'; they must have proven themselves as a reliable credit provider for SMEs.

For instance, this means a solid credit portfolio and enough buffers and equity to compensate for unexpected downturns. We also check the organizational structure of the portfolio company and how robust their (internal) procedures are. Finally, the investments must be in proportion to the total balance of that portfolio company. A healthy balance between effectuating influence and being independent is crucial. If you would like to receive more information on the financial indicators we employ, please contact us via

When currency exchange risks become too high for a local partner, Lendahand will urge the local partner to cover these risks. In some scenarios, the local partner is contractually obliged to comply with these demands.

Lendahand always conducts due diligence when companies request funding. The results can be downloaded on the project detail page. However, this analysis is not investing advice.

Does Lendahand provide a guarantee?

Usually we don't. Local partners take care of the repayment, even if (some) entrepreneurs are unable to do so themselves. If the local partner is for some reason unable to repay then there is a chance of partial or full loss of your money. For this reason, Lendahand only selects financially solid partners based on strict criteria.

For most direct investments, there is no guarantee. However, currency risks are covered.

Sometimes, and only for some direct investments in Africa, our partner Sida, part of the Swedish government, will guarantee a maximum of 50%. Read here more about guarantees with Sida. Projects with Sida guarantees are indicated explicitly on the project page.

Does Lendahand have a license or exemption?

Yes. The Dutch Authority Financial Markets (AFM) has provided Hands-on B.V. (with trade name 'Lendahand') in September 2016 with an investment firm license in accordance with article 2:96 of the Financial Markets Supervision Act (Wft). Placing orders on Lendahand's website is therefore an AFM regulated activity. Lendahand also meets its minimum capital requirements following its license as required by De Nederlandsche Bank (DNB).

Lendahand uses an exemption from an approved prospectus that is available up to EUR 5 Million per year. 

How safe are my personal details?

We adhere to strict safety requirements concerning private and payment details. All sensitive data is sent through an encrypted connection (https). Also, information is stored (encrypted) in a secured facility provided by AWS: the world’s largest hosting service. A secured connection and multi-factor authentication can only retrieve customer documents.

What happens if the local currency devaluates?

Our local partners and companies bear the exchange rate risks. We settle the investments, redemptions, and interest payments in euro.

Does Lendahand use a third foundation fund?

Lendahand works with Intersolve EGI: a Dutch financial institution specializing in payment settlement and electronic money. To be able to offer these financial services, Intersolve EGI must comply with the applicable financial legislation. Intersolve EGI is therefore supervised by De Nederlandsche Bank (DNB) and the Netherlands Authority for the Financial Markets (AFM) and owns a license to act as an Electronic Money Institution (and therefore also has a license as a Payment Institution). Your money will be deposited on a protected and secure bank account until the project you have invested in has been fully funded. Intersolve has no access to these funds. Once the project is fully funded, the money is transferred to the local partner or company in question.

What happens with my money if Lendahand goes bankrupt?

If Hands-On BV (containing the brand name Lendahand) went bankrupt, trades between Lendahand and payment service provider Intersolve EGI would cease immediately. Intersolve will then transfer the funds in your wallet to your bank account (Note: if at this time the project you have invested in has been fully funded and the money has thus been transferred to the local partner, these funds will not be transferred back to your bank account). Intersolve will then, in consultation with a trustee, handle all repayments between the investors and entrepreneurs until the final repayment of the last project has taken place.

Additionally, Lendahand is part of the investor compensation scheme (ICS). This scheme aims to compensate individuals and small businesses with trusted money and or financial instruments (such as notes or options) to a licensed bank, an investment firm, or a financial institution. In case the financial firm is unable to meet its obligations arising from claims related to the investment service (in other words, if Hands-On BV is not keeping track of the acquired notes by investors in the Wge depot correctly). The ICS guarantees an amount of up to €20.000 per individual. For more information, go to

Why is Intersolve EGI handling my money?

As part of the AFM license for investment firms, it is required that operational activities carried out by Lendahand (maintaining the website, contracting of local partners, legal issues, etc.) are strictly separated from financial transactions (payments made through the website). Intersolve takes care of the costs. This collaboration offers you more security since your money is placed on a protected bank account immediately after making your payment.

What happens when a local partner goes bankrupt?

When a local partner goes bankrupt, there’s a chance you’ll lose (part of) your money. Lendahand will try to recover outstanding payments, but the success rate is limited in such situations. For you, as an investor, there’s no possibility of taking action against the financial institution. Therefore, it is recommendable to choose several different projects.

About EFC Uganda

Portfolio Overview€1,138,790,835.84
Leverage ratio19.00%
Write-off ratio last 12 months1.40%
% investment amount in arrears (>90 days)2.99%

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