Pride Microfinance Limited
| Private | |
| Industry | Financial services |
| Founded | 1995 |
| Headquarters | Victoria Office Park 6-9 Ben Kiwanuka Okot Close Bukoto, Kampala, Uganda |
|
Key people
|
Charles Oleny Ojok chairman Veronicah Namagembe managing director |
| Products | Loans, savings |
| Revenue |
 Aftertax:$4.5 million (UGX:11.7 billion) (2013) |
| Total assets | US$56.84 million (UGX:147.4 billion) (2013) |
|
Number of employees
|
585+ (2013) |
| Website | Homepage |
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.
The headquarters of PMFL are in Victoria Business Park, in Bukoto, a north-eastern neighborhood in Nakawa Division, an administrative area within Kampala, Uganda's capital and largest city. This location is approximately 6.5 kilometres (4.0 mi), by road, outside the city's central business district. The coordinates of this location are +0° 20' 41.00"N, +32° 35' 40.00"E (Latitude:0.344723; Longitude:32.594445).
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.
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.
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[update], 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.
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