Pride Microfinance Limited
# Pride Microfinance Limited

Pride Microfinance Limited (PMFL), is a microfinance deposit-taking institution (MDI) in Uganda. It is licensed by the Bank of Uganda, the central bank and national banking regulator.

PMFL provides financial services to that segment of the Ugandan population who are not served or are unable to access financial services through Ugandan commercial banks. PMFL's focus are the micro, small, and medium size entrepreneurs. As an MDI, PMFL is a Tier III Financial Institution. It is therefore prohibited from dealing in foreign exchange and cannot issue checking accounts.

As of December 2013, the institution's total assets were valued at approximately US$56.84 million (UGX:147.4 billion), with shareholders' equity of approximately US$18.1 million (UGX:46.97 billion). As of December 2013, Pride Microfinance employed 585 people and served 373,667 customers.

## History

PMFL was founded in 1995 as a non-governmental organization with the support of the Norwegian Agency for Development Cooperation. Its major objective was to offer credit to the poor, targeting those in the agricultural sector.

In 1999, it was incorporated as a limited company and changed its name to Pride Africa Uganda Limited.

In 2003, the Uganda government acquired 100 percent shareholding in the enterprise, changing the name to Pride Microfinance Limited Uganda.

In 2005, it attained the status of an MDI according to the Banking Act of 2003.

It is a member of the Association of Microfinance Institutions In Uganda.

In February 2016, Ugandan media reported that the government was planning to merge PMFL with PostBank Uganda, to form an agricultural bank.

## Products

As of June 2014, the products offered included:

### Deposit products

* Pride Smart Savings Account
* Pride Akiba Savings Account
* Fixed Deposit Account
* Minor’s Savings Account
* Group Savings Account
* Loan Insurance Fund
* Save As You Earn (SAYE) Account

### Loan products

* Group Guaranteed Loans
* Individual Loans
* Salary Loans
* Mortgage and Asset Financing Loan
* Agricultural Loan Scheme
* School Fees Loan

### Other services

* Money Transfer Services - Through Western Union and MoneyGram
* Death, disability, and catastrophe insurance products to loan clients - Offered through AIG Insurance.

## Branch network

The entire branch network of the company included the following locations, as of June 2014:

* Arua Branch - Avenue Road, Arua
* Bugiri Branch - Mivule Road, Bugiri
* Bukoto Branch - Victoria Office Park, 6-9 Ben Kiwanuka Okot Close, Bukoto, Kampala Main Branch
* Bushenyi Branch - High Street, Bushenyi
* Buwenge Branch - Kamuli Road, Buwenge
* Kampala City Branch - Mukwano Arcade, Kampala
* Fort Portal Branch - Rukidi Road, Fort Portal
* Gulu Branch - Cemetery Road, Gulu
* Entebbe Road Branch - Metropole House, Entebbe Road, Kampala
* Hoima Branch - Old Tororo Road, Hoima
* Ibanda Branch - High Street, Ibanda
* Iganga Branch - Main Street, Iganga
* Ishaka Branch - Rukungiri Road, Ishaka
* Jinja Branch - Main Street, Jinja
* Kabalagala Branch - Muyenga Road, Kabalagala
* Kabale Branch - Kabale Road, Kabale
* Kabingo Branch - Kabingo Trading Center, Isingiro District
* Kabwohe Branch - Mbarara Road, Kabwohe
* Kagadi Branch - High Street, Kagadi
* Kasese Branch - Saad Building, Kasese
* Katwe Branch - Katwe Road, Katwe
* Kawempe Branch - Bombo Road, Kawempe
* Lira Branch - Oboe Avenue, Lira
* Lugazi Branch - Ntenga Road, Lugazi
* Masaka Branch - Kampala Road, Masaka
* Mbale Branch - Republic Street, Mbale
* Mbarara Branch - High Street, Mbarara
* Mukono Branch - Kampala-Jinja Highway, Mukono
* Nakawa Branch - UMA Show Ground, Nakawa
* Naakulabye Branch - Hoima Road, Basiriak Building, Naakulabye
* Nateete Branch - Masaka Road, Nateete
* Pader Branch - Main Street, Pader
* Rukungiri Branch - Rukungiri Road, Rukungiri
* Soroti Branch - Solot Avenue, Soroti
* Wandegeya Branch - Bombo-Gayaza Roundabout, Wandegeya
