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Suggest pagesUganda Finance Trust Limited
| Type | Private |
|---|---|
| Industry | Financial Services |
| Founded | 1984 |
| Headquarters | Plot 121 & 115, Block 6, Finance Trust Building, Katwe, Kampala, Uganda |
| Key people | Irene Muloni Chairperson Annet Nakawunde Mulindwa Chief Executive Officer1 |
| Products | Loans, Savings |
| Revenue |  Aftertax:US$626,100+ (UGX:1.53 billion) (2011) |
| Total assets | US$22.1 million (UGX:54 billion) (2011) |
| Employees | 312 (2010) |
| Website | Homepage |
Uganda Finance Trust Limited (UFTL), commonly called Finance Trust, is a Microfinance Institution (MDI) in Uganda. It is licensed as a Deposit-taking Microfinance institution by the Bank of Uganda, the national banking regulator.2
Contents |
Location
The headquarters of UFTL are located on Plot 121 & 115, Block 6, Finance Trust Building, Katwe, in the central business district of Kampala, Uganda's capital city. The coordinates of the institution's headquarters are: Latitude:0.3020; Longitude:32.5765.
History
UFTL was founded in 1984 to provide financial services to low income people in Uganda, especially women. It is one of the oldest microfinance companies in the county.3
Overview
Uganda Finance Trust Limited, is licensed and supervised by the Bank of Uganda, Uganda's Central Bank, as a Tier III Financial Institution. It is recognised as a Microfinance Deposit-taking Institution (MDI). As of December 2010[update], the institution services nearly 160,000 deposit accounts, through a network of twenty-eight interconnected branches, located in all regions of the country. The average savings account is valued at US$62 and the total amount of deposits is just under US$9.65 million. UFTL maintains nearly 22,900 loan accounts with an average loan size of US$650 and a total loan portifolio of US$14.7 million. Total Assets at the end of 2010 were valued at US$21.4 million.4 The company's December 2011 financial statement valued the total assets of UFTL at US$22.1 (UGX:54 billion), with shareholders' equity of approximately US$3.7 million (UGX: 9 billion).5 In September 2011, Ugandan print media reported that UFTL had received a Tier-I banking licence from the Bank of Uganda and had 12 months from then, to transform into a commercial bank.6
Services
The products offered by UFTL include:7
- Savings Accounts
- Fixed Deposit Accounts
- Business Loans
- Salary Loans
- School Fees Loans
- Money Transfer Services - Offered through MoneyGram International Inc..
Ownership
The stock ownership of the institution is summarized in the table below: 8
