El proyecto

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 65 members of the Masese fish farmers cooperative society can invest in cooling systems for transport or use the money as working capital to increase the fish production.

Background

Masese ‘A’ fish farmers cooperative society has been in existence for 9 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 120 members and are looking forward to having over 150 Members by 2021. All these members are fish 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

Affordability

The Association management is the same management that govern fish market within the area. This is a strong point to note in that Fish harvests and sales can be tracked for payments and monitoring since they are the ones to give licenses to fish buyers

This proposal is backed up by the fact that;

The target clients a group that deals in fish farming and other agricultural activities and they are already into the business and with enough experience.

It’s proposed that EFC will finance Members of the Association but must be recommended by the Association.

We have 65 ready members willing to take up the loan.