Last updated November 2, 2012

Partner Description:

HOFOKAM is a microfinance institution founded by the Catholic Dioceses of Hoima, Fort Portal and Kasese in Western Uganda. Funding and technical support are provided by Catholic Relief Services. The institution was founded in 2003 through a merger of three Diocesan microfinance programs and incorporated as a company limited by a guarantee.

In February 2012, HOFOKAM’s legal status changed, and it became a company limited by shares. Today, it’s one of the oldest and largest microfinance institutions serving the rural poor in Western Uganda. It currently reaches over 20,000 clients organized into 1,149 village banks that cover 15 districts. Its portfolio exceeds US$4.7 million.

Recognizing that financial services aren’t the only tools for economic development and poverty alleviation, HOFOKAM has forged synergistic relationships with a number of socially-driven organizations. This has expanded the institution’s reach and social impact, and has helped to shape its strategic approach and competitiveness.

These partnerships enable HOFOKAM to provide clients with new, innovative products and services. In addition to offering loans for agriculture and small business, it also provides education loans for children and adults, and housing and group loans for those who do not have collateral to mortgage. The 0% interest funding provided by Kiva lenders is helping the institution to grow these services.

HOFOKAM has partnered with Kiva since January 2010. With a strong anti-poverty focus, it works primarily in rural parts of Western Uganda and has distinguished itself by targeting very poor clients who require smaller loan sizes. HOFOKAM is proud to be the only microfinance institution in Uganda with headquarters in the countryside where it works. Kiva’s support is also helping the organization expand into the mountainous areas of the country, which are very remote and difficult to reach with financial services.

HOFOKAM’s Vision:

HOFOKAM aims to build economically empowered households in Uganda. It is pursuing this vision through its core values of honesty, trustworthiness, local empowerment, teamwork, stewardship, reliability, commitment to service and excellence.

Awards and honors:

Since its inception, HOFOKAM has received a number of honors from global organizations, including its major partners Catholic Relief Services, Citi Bank and Agri-Finance Marketplace. These awards acknowledge its financial, operational, institutional and social transparency:

- 2011 Award for best financial services for individual farmers in Fort Portal from Agri-Finance Marketplace.

- 2011 Citi Microentrepreneurship Award for extraordinary support for micro-entrepreneurs in Uganda.

- Pricing transparency award from Microfinance Transparency Organization to honor HOFOKAM for clearly communicating all prices and fees to clients.

Repayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva Feb 24, 2010 Oct 12, 2005
Total Loans $5,045,775 $586,524,650
Amount of raised Inactive loans $0 $575,375
Number of raised Inactive loans 0 493
Amount of Paying Back Loans $1,379,800 $119,938,425
Number of Paying Back Loans 1,697 126,745
Amount of Ended Loans $3,665,975 $466,010,850
Number of Ended Loans 5,653 592,750
Delinquency Rate 1.68% 3.39%
Amount in Arrears $15,023 $2,666,127
Outstanding Portfolio $894,706 $78,651,892
Number of loanDelinquent 112 10,408
Default Rate 1.36% 1.15%
Amount of Ended Loans Defaulted $49,811 $5,337,667
Amount of Ended Loans $3,665,975 $466,010,850
Number of Ended Loans Defaulted 192 16,806
Currency Exchange Loss Rate 0.01% 0.08%
Amount of Currency Exchange Loss $422 $480,684
Refund Rate 0.49% 0.77%
Amount of Refunded Loans $24,950 $4,496,250
Number of Refunded Loans 39 5,040

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 35.71% 74.17%
Average Loan Size $357 $418
Average Individual Loan Size $577 $656
Average Group Loan Size $2,020 $1,827
Average number of borrowers per group 13.1 8
Average GDP per capita (PPP) in local country $1,500 $3,433
Average Loan Size / GDP per capita (PPP) 23.83% 12.19%
Average Time to Fund a Loan 8.43 days 5.58 days
Average Dollars Raised Per Day Per Loan $42.38 $75.01
  Average Loan Term 8.93 months 10.31 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 1,508 292,969
  Journaling Rate 23.43% 42.41%
  Average Number of Comments Per Journal 0.01 0.08
  Average Number of Recommendations Per Journal 0.00 1.89

Borrowing Cost Comparison (based on 2012 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 57% PY 57.00% PY 33.64% PY
  Profitability (return on assets) 6.1% 4.5% -1.40%
  Average Loan Size (% of per capita income) 66.70% 61.00% 41.35%

Country Fast Facts

Field Partner Staff

Beth Akareut
Milly Atuhaire
Denis Azoora
Harriet Bigira
Komurubuga Brenda
Charles Isingoma
Titus Kaahwa
Harriet Kabataizibwa
Doreen Kanyiginya
Andrew Katusabe
Annet Kemigisa
Frank Kirungi
Test Kiva
Raymond Kwebiiha
Faridah Kwikiriza
Yosam Mumwoli
Ann Mwesigwa
Noeline Nakabugo
Onis Ngene
Stephen Thembo Mukobi
Robina Twooki