What is the interest rate of Pride Microfinance?

What is the interest rate of Pride Microfinance?

12% pa
The minimum deposit size is UGX 100,000 and 50,000/= for MEC (group) clients. Negotiable interest rates of up to 12% pa. Flexible period ranging from 1 up to 12 months.

Who is the CEO of Pride Microfinance?

Veronicah Namagembe
Pride Microfinance Limited

Type Private
Industry Financial services
Founded 1995
Headquarters Victoria Office Park 6-9 Ben Kiwanuka Okot Close Bukoto, Kampala , Uganda
Key people Charles Oleny Ojok chairman Veronicah Namagembe managing director

What is Pride Microfinance Limited?

Pride Microfinance Limited (MDI) (PML) is a Microfinance Deposit Taking Institution regulated and supervised by Bank of Uganda. Since 1995 PML has been a cutting- edge financial services provider to hundreds of thousands of Ugandans in the field of Microfinance. PML is 100% owned by Government of Uganda.

How many branches does Pride Microfinance have?

Pride has 44 locations across the country, 33 of which are fully-fledged branches and 11 contact offices. Pride has a wide branch network in the spirit of fostering financial inclusion nationally.

How many microfinance institutions are there in Uganda?

Currently, there is one commercial bank providing microfi- nance services (CERUDEB), one recently established pri- vately owned credit institution (CML), about 15 larger MFIs and around 80 CBOs and NGOs providing savings and credit services on a smaller scale.

Which is the biggest bank in Uganda?

Stanbic bank is currently the biggest and largest bank operating in Uganda.

How many bank accounts are there in Uganda?

13 million bank accounts
As of January 2020, according to Uganda Bankers Association, there were 13 million bank accounts in Uganda and 11,000 banking agents countrywide.

How much is the loan limit in a microfinance?

a. The maximum principal amount of microfinance loans shall not exceed P150,000. This is equivalent to the maximum capitalization of a microenterprise under R.A. No….314 MICROFINANCE LOANS.

Subject Particulars
Loan Amount – Up to P150,000 – Loans to start small and increase incrementally based on banks’ policies

Who created microfinance?

Muhammad Yunus
Muhammad Yunus is often considered the father of microfinance. In 2006, he won the Nobel Prize for his “efforts through microcredit to create economic and social development from below.” In this TED talk, Yunus describes his experience with microfinance.

Which is the best bank in Uganda?

Top 10 Banks in Uganda by Assets

  1. Stanbic Bank. Stanbic bank is currently the biggest and largest bank operating in Uganda.
  2. Dfcu Bank.
  3. Bank of Baroda Uganda.
  4. Citibank Uganda Ltd.
  5. Equity Bank.
  6. Housing Finance Bank.
  7. Bank of Africa Uganda.

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