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 $2,388,025 $597,373,850
Amount of raised Inactive loans $0 $670,325
Number of raised Inactive loans 0 644
Amount of Paying Back Loans $959,525 $120,630,450
Number of Paying Back Loans 909 128,489
Amount of Ended Loans $1,428,500 $476,073,075
Number of Ended Loans 1,399 603,944
Delinquency Rate 8.01% 3.69%
Amount in Arrears $41,333 $2,916,726
Outstanding Portfolio $515,967 $79,118,114
Number of loanDelinquent 212 10,801
Default Rate 0.22% 1.12%
Amount of Ended Loans Defaulted $3,122 $5,345,655
Amount of Ended Loans $1,428,500 $476,073,075
Number of Ended Loans Defaulted 11 16,811
Currency Exchange Loss Rate 0.00% 0.09%
Amount of Currency Exchange Loss $0 $538,749
Refund Rate 1.07% 0.76%
Amount of Refunded Loans $25,625 $4,539,725
Number of Refunded Loans 19 5,066

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 35.50% 74.20%
Average Loan Size $378 $418
Average Individual Loan Size $742 $656
Average Group Loan Size $2,127 $1,829
Average number of borrowers per group 9.2 8
Average GDP per capita (PPP) in local country $1,500 $3,427
Average Loan Size / GDP per capita (PPP) 25.19% 12.21%
Average Time to Fund a Loan 8.97 days 5.65 days
Average Dollars Raised Per Day Per Loan $42.10 $74.06
  Average Loan Term 9.6 months 10.37 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 338 298,204
  Journaling Rate 19.35% 42.46%
  Average Number of Comments Per Journal 0.00 0.08
  Average Number of Recommendations Per Journal 0.00 1.86

Borrowing Cost Comparison (based on 2012 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 51% PY 57.00% PY 33.26% PY
  Profitability (return on assets) 0.5% 4.5% -1.45%
  Average Loan Size (% of per capita income) 162.00% 61.00% 40.88%

Country Fast Facts

Field Partner Staff

Sharon Akakimpa
Prisca Asiimwe
Sam Atuhurra
Emmanuel Baganizi
Alfred Byamugisha
Julius Mujuni
Pius Mukiibi
Ronald Muwanga
Anne Namatovu
Wilson Twamuhabwa