Opportunity Uganda Limited

Opportunity Uganda Limited

Type	Private
Industry	Financial Services
Founded	1995
Headquarters	7A John Babiiha Avenue Kololo, Kampala, Uganda
Key people	Archibald Mears, CEO
Products	Loans
Revenue	US$897,000 (2010)
Total assets	US$13.8 million (2010)[1]
Employees	240 (2010)
Website	Homepage

Opportunity Uganda Limited (OUL), is a credit institution (Tier II Financial Institution) in Uganda.

Location

The head offices of Opportunity Uganda Limited are located at 7 Babiiha Avenue, on Kololo Hill, an upscale business and residential neighborhood, within the city of Kampala, Uganda's capital.^[2] The coordinates of the company headquarters are:00 19 48N, 32 35 13E (Latitude:0.3300; Longitude:32.5980).

History

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.^[3]

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.^[4] In December 2009, Opportunity bought the remaining shares of FAULU Uganda, thereby taking outright ownership of the company. The financial institution was re-named Opportunity Uganda Limited.^[5]

Overview

Opportunity 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 December 2010^[update], the institution's total assets were in excess of US$13.8 million, with shareholder's equity of approximately US$4.6 million.^[6]

Ownership

The company is 100% owned by Opportunity International, as of December 2009.

Branch Network

The branch network of Opportunity Uganda Limited includes the following locations: ^[7]

1. Main Branch - Babiiha Avenue, Kololo, Kampala
2. Kawempe Branch - Kawempe, Kampala^[8]
3. Owino Market Branch - Nakivubo Road, Kampala
4. Nateete Branch - Nateete, Kampala
5. Kira Road Branch - Kira Road, Kamwokya, Kampala
6. Jinja Branch - Jinja
7. Iganga Branch - Iganga
8. Mbarara Branch - Mbarara
9. Masaka Branch - Masaka
10. Kalagi Branch - Kalagi, Mukono District
11. Mubende Branch - Mubende
12. Mayuge - Mayuge

See also

• Banking in Uganda
• List of banks in Africa
• List of banks in Uganda

External links

• Opportunity International Buys 100% FAULU Uganda
• Total Loan Portfolio US$6.06 Million in 2008
• Opportunity International Partners in Africa

References

1. ^ December 2010 Financial Data
2. ^ Opportunity Uganda Headquarters Located in Kololo
3. ^ The Beginning of Opportunity Uganda Limited
4. ^ Opportunity International Buys Majority Stake in FAULU Uganda
5. ^ Opportunity International Buys Faulu Uganda
6. ^ Financial and Performance Data December 2010
7. ^ Branches of Opportunity Uganda Limited
8. ^ Opportunity Uganda Limited Maintains Branch in Kawempe

Coordinates: 00°19′48″N 32°35′13″E / 0.33°N 32.58694°E / 0.33; 32.58694