Pride Microfinance Limited
|Headquarters||Victoria Office Park
6-9 Ben Kiwanuka Okot Close
Bukoto, Kampala, Uganda
|Key people||Charles Oleny Ojok
|Revenue||Aftertax:$4.5 million (UGX:11.7 billion) (2013)|
|Total assets||US$56.84 million (UGX:147.4 billion) (2013)|
The headquarters of PMFL are located in Victoria Business Park, in Bukoto, a northeastern neighborhood in Nakawa Division, an administrative area within Kampala, Uganda's capital and largest city. This location is situated approximately 6.5 kilometres (4.0 mi), by road, outside the city's central business district. The coordinates of this location are:+0° 20' 41.00"N, +32° 35' 40.00"E (Latitude:0.344723; Longitude:32.594445).
Pride Microfinance was founded in 1995, as a Non-governmental organization (NGO), with the support of the Norwegian Agency for Development Cooperation (NORAD). Its major objective was to offer credit to the poor, targeting those in the agricultural sector. In 1999, it was incorporated as a limited company and changed names to Pride Africa Uganda Limited. In 2003, the Uganda government acquired 100% shareholding in the enterprise, changing the name to Pride Microfinance Limited. 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).
PMFL 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. PMFL's focus are the micro, small and medium size entrepreneurs. The institution also offers money transfer services through Western Union and MoneyGram. As an MDI, PMFL is a Tier III Financial Institution. It is therefore prohibited from dealing in foreign exchange and cannot issue checking accounts. As of December 2013[update], the institution's total assets were valued at approximately US$56.84 million (UGX:147.4 billion), with shareholders' equity of approximately US$18.1 million (UGX:46.97 billion). As of December 2013, Pride Microfinance employed 585 people and served 373,667 customers.
As of June 2014, the products offered include:
- 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 and MoneyGram
- Death, Disability and Catastrophe Insurance products to loan clients - Offered through AIG Insurance.
Pride Microfinance Limited is owned 100% by the Ugandan Government.
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 June 2014:
- Arua Branch - Avenue Road, Arua
- Bugiri Branch - Mivule Road, Bugiri
- Bukoto Branch - Victoria Office Park, 6-9 Ben Kiwanuka Okot Close, Bukoto, Kampala Main Branch
- Bushenyi Branch - High Street, Bushenyi
- Buwenge Branch - Kamuli Road, Buwenge
- Kampala City Branch - Mukwano Arcade, Kampala
- Fort Portal Branch - Rukidi Road, Fort Portal
- Gulu Branch - Cemetery Road, Gulu
- Entebbe Road Brach - Metropole House, Entebbe Road, Kampala
- Hoima Branch - Old Tororo Road, Hoima
- Ibanda Branch - High Street, Ibanda
- Iganga Branch - Main Street, Iganga
- Ishaka Branch - Rukungiri Road, Ishaka
- Jinja Branch - Main Street, Jinja
- Kabalagala Branch - Muyenga Road, Kabalagala
- Kabale Branch - Kabale Road, Kabale
- Kabingo Branch - Kabingo Trading Center, Isingiro District
- Kabwohe Branch - Mbarara Road, Kabwohe
- Kagadi Branch - High Street, Kagadi
- Kasese Branch - Saad Building, Kasese
- Katwe Branch - Katwe Road, Katwe
- Kawempe Branch - Bombo Road, Kawempe
- Lira Branch - Oboe Avenue, Lira
- Lugazi Branch - Ntenga Road, Lugazi
- Masaka Branch - Kampala Road, Masaka
- Mbale Branch - Republic Street, Mbale
- Mbarara Branch - High Street, Mbarara
- Mukono Branch - Kampala-Jinja Highway, Mukono
- Nakawa Branch - UMA Show Ground, Nakawa
- Naakulabye Branch - Hoima Road, Basiriak Building, Naakulabye
- Nateete Branch - Masaka Road, Nateete
- Pader Branch - Main Street, Pader
- Rukungiri Branch - Rukungiri Road, Rukungiri
- Soroti Branch - Solot Avenue, Soroti
- Wandegeya Branch - Bombo-Gayaza Roundabout, Wandegeya
- BOU, . (March 2014). "List of Licensed Microfinance Deposit-Taking Institutions In Uganda". Bank of Uganda (BOU). Retrieved 30 June 2014.
- "Approximate Travel Distance From Central Kampala To Bukoto With Map". Globefeed.com. Retrieved 30 June 2014.
- Google, . "Location of Pride Microfinance Headquarters At Google Maps". Google Maps. Retrieved 30 June 2014.
- Mbanga, Jeff (22 May 2008). "Pride Microfinance Limited Is On Sale". The Observer (Uganda). Retrieved 30 June 2014.
- MixMarket, . "AMFIU Networks: Membership Affiliations". MixMarket.org. Retrieved 30 June 2014.
- PMFL, . (2014). "Audited December 2013 Annual Report". Pride Microfinance Limited (PMFL). Retrieved 30 June 2014.
- PMFL, . "The Branch Network of Pride Microfinance Limited". Pride Microfinance Limited (PMFL). Retrieved 30 June 2014.