Monthly Archives: November 2022

EFC Uganda Limited (MD1) seals UGX 8 Billion Financing Deal.

EFC Uganda Limited (MDI) has sealed a financing deal worth UGX 8 Billion with Oikocredit Uganda. Oikocredit is one of the world’s largest sources of private funding to the microfinance sector.  These funds are planned to go towards financing SMEs.

Uganda‘s SMEs sector which is a primary driver in Uganda’s journey to full economic growth and independence is growing tremendously. EFC Uganda is working towards becoming the leading SMEs financial institution by 2025. It is this vision that constantly propels us to find innovative solutions to address challenges facing SMEs. And, creating easy access to financing is fundamental in realizing this vision.

This financing deal is concluded at a critical time, a time when SMEs are struggling to recover from the effects of the Covid – 19 pandemic. SMEs face a number of challenges and the most reported is the limited access to financing. Small Enterprises employ between 5 and 49 and have total assets between UGX 10 million and not exceeding 100 million. The Medium Enterprises therefore employs between 50 and 100 with total assets more than 100 million but not exceeding 360 million. Enterprises that meet these requirements will be able to benefit from this fund.

In the recent, EFC Uganda has created different products to service SMEs better. In April of 2022 EFC Uganda designed and rolled out a campaign dubbed “SIMBULA LOANS NE EFC” this initiative is extending loans close to UGX 13.5 BN to Ugandans.

EFC Uganda is also part of the Small Business Recovery Fund, a partnership with Bank of Uganda where entrepreneurs can get loans of up to UGX 100 million at very low interest rates of not more than 10 %.

EFC Uganda is committed to contributing to the development of Uganda’s private sector by providing increased access to financial services for the underserved Micro, Small and Medium Entrepreneurs (MSMEs) market segment.

EFC (U) Ltd Celebrates Customer Service Week 2022

At EFC Uganda (U) Ltd, offering the best customer experience at every point of interaction is key to our vision. And, in a bid to appreciate our customers and staff during the Customer Service week 2022, we held a series of activities across all our branches. These included giving out thank you gift hampers to our customers, focused staff & Exco team engagements, cake cutting and crowning these off with a thank you breakfast staff & customer meeting on Friday, the 14^th of October, 2022.

Over our years of existence, we have ensured offering of top notch customer experience alongside offering customized financial solutions to our customers. It comes with no surprise that EFC Uganda scooped Gold under the category of “Best Microfinance Institution” in Uganda. This was at the 4^th edition of the Consumer Choice Awards 2022 ceremony that was held at the Golf course Hotel in Kampala on Friday the 29^th of July 2022.

As we walk diligently towards our vision of becoming the largest and most preferred SME Bank in Uganda by 2025, we continue to appreciate our staff and customers more because we understand that your support is the fuel to what we do best and has kept us going in this fast-growing economy.

EFC Uganda Ltd (MDI) Scoops Gold at the Consumer Choice Awards 2022

EFC Uganda, one of the fastest growing microfinance institutions in Uganda scoops Gold under the category of “Best Microfinance Institution” in Uganda. This was at the 4^th edition of the Consumer Choice Awards 2022 ceremony that was held at the Golf course Hotel in Kampala on Friday the 29^th of July 2022.

The Consumer Choice Awards is an annual event aimed at recognizing business excellence by conducting comprehensive and objective independent market research surveys, to determine brand reputation, customer satisfaction and business excellence for the quality of services rendered to the populace.

EFC Uganda has been in business for the past 10 years. Driven by its Vision of becoming the largest SMS Bank in Uganda by 2025, EFC is committed to providing Ugandans with swift access to world class financial services.

Commenting on this achievement, EFC Uganda’s Managing Director, Mr. Shem Edmond Kakembo stated that “Being named winners in the category of “Best Microfinance Institution” in Uganda is not by surprise. Part of our long-term vision is to ensure that our customers enjoy an awesome customer experience at every point of business engagement. Customer satisfaction is fundamental to our business strategy”

Awards of this nature are not only designed to help the winners stand out in fast growing and competitive markets but also, they represent the knowledge, trust, and loyalty of brands to the customers or consumers.

We would like to thank the organizers of the event and most importantly our esteemed customers. We could not have won this without your loyal support.

About EFC Uganda Ltd (MDI)

EFC Uganda Limited (MDI), is among the fastest growing microfinance institutions in Uganda. Licensed and supervised by the Bank of Uganda, EFC is committed to contributing to the development of the country’s private sector by providing increased access to financial services for the underserved Micro, Small and Medium Entrepreneurs (MSMEs) market segment.

SIMBULA LOANS NE EFC  – CAMPAIGN STARS FOR APRIL – JUNE 2022.

On Friday the 8^th of July 2022, EFC (U) Ltd held a town hall breakfast meeting to recognize and award the top sellers and collectors for the months of April and June 2022 for the Simbula loans ne EFC Campaign.

Launched in April 2022, The Simbula loans ne EFC Campaign has been running for the past 3 months across all branches. The target of the campaign was to extend loans of worth 13.5 B to Ugandans. The Sales team has been a key group to seeing the success this initiate.

At EFC Uganda, appreciating talent and hard work is part of our human capital strategy. It stems from this that a total of 13 staff from the Sales and Recoveries departments where awarded with shopping vouchers worth 100,000 UGX each. Emerging the best in recoveries with a total collection of 236 M, Edward Nsereko happily walked away with a trophy.

The campaign is ongoing until August 2022; this presents the winners and the rest of the team with an opportunity to work harder than before. While thanking the team and those named the first 3 months campaign stars during the awards breakfast, EFC Uganda Ltd‘s Managing Director, Shem Edmond Kakembo emphasized that “ It’s important that we strategically work to fully hit the target of UGX 16 BN in the next months. We pledge to continue recognizing and appreciating the best talent.”

Our 2025 vision is to become the leading SME financial institution in Uganda and this will be possible through consistent team work.