UGAFODE Microfinance Limited

Uganda

Last updated May 27, 2012

Partner Description:

UGAFODE Microfinance Limited is a microfinance deposit taking institution regulated by the Bank of Uganda that provides a range of loan products -- with special focus on rural clients -- including business loans, group loans, micro-mortgage loans, agricultural loans and flexible housing loans. As of fall 2011, it had a loan portfolio of USD$2.9 million, nine branches, and about 5,300 active borrowers.

UGAFODE has a strong social focus, and tailors loan products to low-income and underserved clients. Four of its branches are located in rural areas 300 km from Kampala, and each branch works with clients within a 50 km radius. Funding from Kiva will allow UGAFODE to grow its innovative loan programs to better serve these individuals, like its agriculture and housing loans -- as well as green loans to help clients adopt sustainable business practices.

Based in Kampala, UGAFODE has strong governance structures in place, with an experienced executive team and board members with backgrounds in banking, accounting, microfinance and law. Accordingly, it has been able to attract stable sources of funding from organizations like Opportunity International, Oiko Credit, and Habitat for Humanity Uganda. The combination of seasoned leadership and solid funding has allowed the organization to post steady growth since its founding in 1994.

The partnership with Kiva will help UGAFODE make an even greater impact on the lives of underserved and underbanked clients in western and central Uganda.

Repayment Performance on Kiva

	This Field Partner	All Kiva Partners
Start Date On Kiva	Apr 25, 2012	Oct 12, 2005
Total Loans	$672,075	$424,502,625
Amount of Raised Inactive Loans	$800	$303,725
Number Of Raised Inactive Loans	1	236
Amount of Paying Back Loans	$591,775	$92,457,350
Number Of Paying Back Loans	582	100,288
Amount of Ended Loans	$79,500	$331,741,550
Number Of Ended Loans	84	434,958
Delinquency Rate	1.21%	2.08%
Amount In Arrears	$4,712	$1,221,363
Outstanding Portfolio	$388,789	$58,717,054
Number of Loans Delinquent	33	9,846
Default Rate	0.00%	0.97%
Amount of Ended Loans Defaulted	$0	$3,220,059
Amount of Ended Loans	$79,500	$331,741,550
Number Of Ended Loans Defaulted	0	9,823
Currency Exchange Loss Rate	0.00%	0.02%
Amount of Currency Exchange Loss	$0	$77,435
Refund Rate	1.32%	0.96%
Amount of Refunded Loans	$8,900	$4,068,925
Number Of Refunded Loans	9	4,589

Loan Characteristics On Kiva

	This Field Partner	All Kiva Partners
Loans To Women Entrepreneurs	37.06%	74.04%
Average Loan Size	$326	$406
Average Individual Loan Size	$692	$645
Average Group Loan Size	$2,142	$1,742
Average Number Of Entrepreneurs Per Group	10.6	8
Average GDP Per Capita (PPP) in Local Country	$1,700	$3,346
Average Loan Size / GDP Per Capita (PPP)	19.20%	12.15%
Average Time To Fund A Loan	4.18 days	4.69 days
Average Dollars Raised Per Day Per Loan	$78.06	$86.68
Average Loan Term	8.81 months	9.61 months

Journaling Performance on Kiva

	This Field Partner	All Kiva Partners
Total Journals	46	203,200
Journaling Rate	29.75%	39.95%
Average Number Of Comments Per Journal	0.00	0.11
Average Number Of Recommendations Per Journal	0.00	2.73

Borrowing Cost Comparison (based on 2011 data)

	This Field Partner	Median for MFI Peers in Country	All Kiva Partners
Portfolio Yield	54.40%	52.70%	35.02%
Profitability (Return on Assets)	4.6%	2.8%	-0.38%
Average Loan Size (% of Per Capita Income)	162.00%	72.10%	46.53%

Country Fast Facts

Country:: Uganda
Capital:: Kampala
Official Language:: English (official national language, taught in grade schools, used in courts of law and by most newspapers and some radio broadcasts), Ganda or Luganda (most widely used of the Niger-Congo languages, preferred for native language publications in the capital and may be taught in school), other Niger-Congo languages, Nilo-Saharan languages, Swahili, Arabic
Population:: 26,404,543
Avg Annual Income:: $1,700
Labor Force:: agriculture 82%; industry 5%; services 13%
Population Below Poverty Line:: 35%
Literacy Rate:: 69.90%
Infant Mortality Rate (per 1000):: 86.15 deaths
Life Expectancy:: 45.28 years