By providing technical assistance funds, OeEB supports the microfinance institution BRAC Uganda Microfinance Ltd. in its transformation into a formal financial institution with a banking licence - BRAC Uganda Bank Ltd. This enables the institution to offer additional products and services that contribute to improving financial inclusion in Uganda.
|Project name||BRAC Uganda Transformation|
|Sector||Banking and financial services|
|Service||Business Advisory Services|
|Project partner(s)||CapPlus Exchange Corporation|
The transformation of BRAC Uganda Microfinance Ltd. into BRAC Uganda Bank Ltd.
BRAC Uganda Microfinance Limited (BUML) is the largest microfinance company in Uganda. The institute is part of the world-wide development organization BRAC, which was founded in Bangladesh in 1972.
With almost 200,000 customers and 150 branches, BUML is very present in Uganda. The organisation supports more than 176,000 micro-loans and 8,000 small entrepreneurs. Most of them are female customers who want to expand their business and thus create new employment opportunities.
By providing technical assistance funds, OeEB supports the transformation of the microfinance institution into a formal bank-licensed financial institution – BRAC Uganda Bank Limited (BUBL). By now, the bank has achieved Tier II status. It empowers the institution to accept deposits and to offer a broader range of financial products and services in order to expand their outreach. This will enable BRAC Uganda to reach people on site, especially women in underserved rural areas.
OeEB invests in BRAC Uganda Bank through its participation in ShoreCap III. The transformation process was implemented in collaboration with CapPlus Exchange, ShoreCap’s Capacity Building Partner.