Chairperson’s Message


Chairperson’s Message

I am delighted to present EFC Uganda’s annual report for the year ended 31st December, 2015. Despite all the challenges we faced as an institution in 2015, there are many reasons to be glad, in terms of progress and achievements. Despite the economic turbulence, we managed to grow and expand our service delivery.

The Board of Directors firmly believes that we have the right team coupled with the
right strategy to deliver the longer term performance our shareholders and other stakeholders expect and deserve from us. In 2015, we greatly expanded our delivery channels to be able to serve many more customers both in the Central Business District and other areas beyond Kampala. We moved our headquarters to a more central location in Kololo and retained the Ndeeba Branch. More expansion was realized both in the number of employees and departments. All these were aimed at better serving our customers as well as reaching out to more entrepreneurs in our communities.

At EFC, we value our customers exceptionally. That is why over the past year,we witnessed various innovations being implemented which made it all the more convenient for them to access our services with the utmost ease. 2016 is also expected to be a year of innovation. We plan to implement new technologies that will not only serve our customers to satisfaction, but also ease the work of our staff.

Corporate Governance

Good corporate governance is a priority for EFC Uganda. We have established a management structure and mechanisms within the organization that create strong and transparent relations between the Board of Directors, management, shareholders and staff, in order to serve the best interests of shareholders and taking into account the interests of all stakeholders. We have embraced the following guiding principles to create long term value : accountability, responsibility, fair treatment, transparency, ethics and vision. We subject ourselves to continual assessment, review and improvement to serve the interests of shareholders and
other stakeholders and to promote the highest standards of ethical behaviour and risk management at every level of the organization.

Strategy for Increased Profitable Growth.

Our strategy is a mix of different profit drivers, cost cutting measures and focus
on outreach and measurable expansion campaigns. We have the right team of managers and employees, and we will
keep developing our team and increase its productivity to reach out to new customers. We will leverage our strategic forte and expertise to grow our business with the ‘missing middle’ entrepreneurs, those who are underserved by traditional microfinance and conventional banks. EFC Uganda is strongly committed to our vision
of being the preferred financial services partner for micro and small entrepreneurs (MSEs) in Uganda. We are well positioned to serve them with our products which include business loans, home improvement loans and savings products. Our strategy takes advantage of competitive strengths, including our diversified products, financial
and capital depth, industry and financial markets expertise, talented workforce,
customer-centric culture, and risk management expertise.


Looking ahead, the Board is confident that EFC Uganda’s leadership, strategy and people will facilitate its continued growth and development for the benefit of all of its stakeholders and customers. We are quite optimistic that during the year 2016, we shall achieve profitable growth.


On behalf of the Board, I would like to express my gratitude to everyone who enabled EFC Uganda to achieve great success in 2015 : our shareholders, partners and management team. Of course, none of this would have been possible if it were not for our passionate team at EFC Uganda. I would like to recognize the efforts of these highly talented young staff and their dedication to our mission. Their great work is the key to our success going forward.

Charles Nalyaali
Board Chairperson