Opportunity Uganda Limited

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Opportunity Bank Uganda Limited
Private
Industry Financial Services
Founded 1995
Headquarters 7A John Babiiha Avenue
Kololo, Kampala, Uganda
Key people
 André Lalumière, CEO
Products Loans, Savings, ATM, mobile banking
Total assets US$22.8 million (Q1:2014)[1]
Number of employees
 376 (2014)
Website Homepage

Opportunity Bank Uganda Limited (OBUL), is a credit institution (Tier II Financial Institution) in Uganda. In November 2011, the institution rebranded as Opportunity Bank Uganda.

Location

OBUL's headquarters are located at 7A Babiiha Avenue, on Kololo Hill, an upscale business and residential neighborhood, within the city of Kampala, Uganda's capital. The coordinates of the headquarters are:0°20'09.0"N, 32°35'15.0"E (Latitude:0.335845; Longitude:32.587500).[2]

Overview

Opportunity Bank Uganda Limited is a Tier II Financial Institution (MFI), licensed by the Bank of Uganda, the central bank and national banking regulator.[3] As a credit institution, 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 March 2014, the institution's total assets were in excess of US$22.8 million, with shareholder's equity of approximately US$10 million.

History

This microfinance institution was licensed in 1995 and began operations in 1996 as FAULU Uganda, a programme of Food for the Hungry International, a non-governmental organization. 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.[4]

In 2006, Opportunity Transformation Investments and Opportunity International Australia each purchased a 31.5 percent stake in FAULU Uganda Limited, giving Opportunity International a combined majority stake of 63 percent in the fourth largest microfinance institution in Uganda. In December 2009, Opportunity bought the remaining shares of FAULU Uganda, thereby taking outright ownership of the company. The financial institution was renamed Opportunity Uganda Limited.[5][6] In November 2011, the institution rebranded to OBUL.[7]

Ownership

The company was wholly owned by the Opportunity International network through four different entities, as of June 2014.[8]


Opportunity Bank Uganda Stock Ownership
Rank Name of Owner Percentage Ownership
1 Opportunity Transformational Inc. 85.79
2 Faulu Uganda Trust 7.14
3 Opportunity International Canada 6..06
4 Food for the Hungry Organization 1.01
Total 100.00

Branch network

The branch network of OBUL has included the following locations:[9]

  1. Kira Road Branch - 80 Kira Road, Kamwookya
  2. City Center Branch - 14 Kampala Road, Kampala
  3. Kawempe Branch - 494 Block 204, Goshen House, Kawempe
  4. Nateete Branch - 715 Masaka Road, Nateete
  5. Owino Branch - Ovino Shopping Complex, 22 Kisenyi Road, Kampala
  6. Gayaza Branch - Gayaza-Kampala Road, Gayaza
  7. Nansana Branch - Hoima Road, Nansana
  8. Jinja Branch - 9 Skindia Road, Jinja
  9. Iganga Branch - 88 Main Street, Iganga
  10. Mbarara Branch - 90 Highway Street, Mbarara
  11. Masaka Branch - Edward Avenue, Masaka
  12. Kalagi Branch - Mukono-Kayunga Road, Kalagi
  13. Mubende Branch - 103 Lubanga Road, Mubende
  14. Head Office - 7A Acacia Avenue, Kololo, Kampala
  15. Mayuge Branch - Mayuge
  16. Mbale Branch - Mbale
  17. Kyenjojo Branch - Kyenjojo

See also

References

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External links

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