Opportunity Uganda Limited
|Headquarters||7A John Babiiha Avenue
Kololo, Kampala, Uganda
|Key people||André Lalumière, CEO|
|Products||Loans, Savings, ATM, mobile banking|
|Total assets||US$22.8 million (Q1:2014)|
The head offices of Opportunity Bank Uganda Limited are located at 7A Babiiha Avenue, on Kololo Hill, an upscale business and residential neighborhood, within the city of Kampala, Uganda's capital. The coordinates of the company headquarters are:0°20'09.0"N, 32°35'15.0"E (Latitude:0.335845; Longitude:32.587500).
Opportunity Bank Uganda Limited is a Tier II Financial Institution (MFI). It is not authorized to offer checking accounts or deal in foreign exchange. The company is authorized to take in customer deposits and to establish savings accounts. It is also authorized make collateralized and non-collateralized loans to savings and non savings customers. The company is a wholly owned subsidiary of Opportunity International and is a member of their network. They specialize in lending to the poorest of the working poor. As of March 2014[update], the institution's total assets were in excess of US$22.8 million, with shareholder's equity of approximately US$10 million.
This microfinance institution was licensed in 1995 and began operations in 1996 as FAULU Uganda, a programme of Food for the Hungry International, an NGO. In July 1999, Faulu Uganda incorporated as a limited liability company in Uganda, becoming FAULU Uganda Limited. Under that name, the company became part of the FAULU network in Uganda and Kenya.
In 2006, Opportunity Transformation Investments and Opportunity International Australia, each purchased a 31.5% stake in FAULU Uganda Limited, giving Opportunity International a combined majority stake of 63% in the fourth largest microfinance institution in Uganda. In December 2009, Opportunity bought the remaining shares of FAULU Uganda, thereby taking outright ownership of the company. The financial institution was renamed Opportunity Uganda Limited. In November 2011, the institution rebranded to Opportunity Bank Uganda.