Pride Microfinance Limited

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Pride Microfinance Limited
Type Private
Industry Financial Services
Founded 1995
Headquarters Metropole House,
Entebbe Road,
Kampala, Uganda
Key people Enoch Rukidi
Chairman
Veronicah Namagembe
Managing Director
Products Loans, Savings
Revenue IncreaseAftertax:$1.2 million (UGX:2.84 billion)(2010)1
Total assets US$34 million (UGX:79.61 billion) (2010)
Employees 505 (2010)
Website Homepage

Pride Microfinance Limited (PML), is a Microfinance Deposit-taking Institution (MDI) in Uganda.

Contents

Location

The headquarters of PML are located in Metropole House, on Entebbe Road, in the central business district of Kampala, Uganda's capital and largest city. This location is situated on the western slopes of Nakasero Hill, close to the junction between Entebbe Road and Market Street. The coordinates of this location are:00 18 41N, 32 34 53E (Latitude:0.3113; Longitude:32.5814).

History

PML was founded in 1995.2 In 2005, it attained the status of an MDI according to the Banking Act of 2003. It is licensed and supervised by the Bank of Uganda, Uganda's Central Bank. It is a member of the Association of Microfinance Institutions in Uganda (AMFIU).3

Overview

Pride Microfinance Limited is a Microfinance Deposit-taking Institution (MDI). It provides financial services to that segment of the Ugandan population who are not served or are unable to access financial services through the Ugandan commercial banks. PML's focus are the micro, small and medium size entrepreneurs. The institution also offers money transfer services through Western Union. As an MDI, PML is a Tier III Financial Institution. It is therefore prohibited from dealing in foreign exchange and cannot issue checking accounts. As of December 2009, PML had 186,322 depositors with a total of US$13.5 million in deposits, averaging US$73 per depositor. There were 60,276 loan accounts, with an average loan amount of US$421 borrower, for a total loan book of US$25.4 million.4

As of December 2010, the institution's total assets were valued at approximately US$34 million (UGX:79.61 billion), with shareholders' equity of approximately US$7.7 million (UGX:17.95 billion). At that time, the MFI had 231,076 depositors, of whom 66,179 were active borrowers as well.5

Products

As of March 2010, the products offered include: 6

Deposit Products
  • Pride Smart Savings Account
  • Pride Akiba Savings Account
  • Fixed Deposit Account
  • Minor’s Savings Account
  • Group Savings Account
  • Loan Insurance Fund
Loan products
  • Group Guaranteed Loans
  • Individual Loans
  • Salary Loans
  • Asset Financing Loan
Other services
  • Money Transfer Services - Through Western Union
  • Death, Disability and Catastrophe Insurance products to loan clients - Offered through Chartis Insurance

Ownership

Pride Microfinance Limited is owned 100% by the Ugandan Government.

Branch Network

Pride Microfinance Limited maintains its headquarters in Metropole House on Entebbe Road, in the central business district of Kampala, Uganda's capital and largest city. The entire branch network of the company includes the following locations, as of March 2010: 7

  1. Arua Branch - Avenue Road, Arua
  2. Bugiri Branch - Mivule Road, Bugiri
  3. Bushenyi Branch - High Street, Bushenyi
  4. Buwenge Branch - Kamuli Road, Buwenge
  5. Kampala City Branch - Mukwano Arcade, Kampala
  6. Fort Portal Branch - Rukidi Road, Fort Portal
  7. Head Office - Entebbe Road, Kampala
  8. Hoima Branch - Old Tororo Road, Hoima
  9. Iganga Branch - Main Street, Iganga
  10. Ishaka Branch - Rukungiri Road, Ishaka
  11. Jinja Branch - Main Street, Jinja
  12. Kabalagala Branch - Muyenga Road, Kabalagala
  13. Kabale Branch - Kabale Road, Kabale
  14. Kabwohe Branch - Mbarara Road, Kabwohe
  15. Kasese Branch - Saad Building, Kasese
  16. Katwe Branch - Katwe Road, Katwe
  17. Kawempe Branch - Bombo Road, Kawempe
  18. Lira Branch - Oboe Avenue, Lira
  19. Lugazi Branch - Ntenga Road, Lugazi
  20. Masaka Branch - Kampala Road, Masaka
  21. Mbale Branch - Republic Street, Mbale
  22. Mbarara Branch - High Street, Mbarara
  23. Mukono Branch - Kampala-Jinja Highway, Mukono
  24. Nakawa Branch - UMA Show Ground, Nakawa
  25. Naakulabye Branch - Hoima Road, Basiriak Building, Naakulabye
  26. Nateete Branch - Masaka Road, Nateete
  27. Rukungiri Branch - Rukungiri Road, Rukungiri
  28. Soroti Branch - Solot Avenue, Soroti
  29. Wandegeya Branch - Bombo-Gayaza Roundabout, Wandegeya

See also

External links

References

  1. ^ 31 December 2010 Aftertax Profit
  2. ^ Pride Microfinance Limited Founded 1995
  3. ^ List of Members of AMFIU
  4. ^ December 2009 Financial Data
  5. ^ 31 December 2010 Audited Financial Report
  6. ^ Overview of Pride Microfinance Limited
  7. ^ Branch Network of Pride Microfinance Limited
Capital: Kampala
Divisions
Neighborhoods
Economy
Notable
landmarks
Education
Notable people

Coordinates: 00°18′41″N 32°34′53″E / 0.31139°N 32.58139°E / 0.31139; 32.58139