Financial reports

UGAFODE looks forward to a promising 2022

Shafi Nambobi, CEO UGAFODE Microfinance Limited (MDI)

As we continued to grapple with the economic effects of COVID-19 in the FY2021, UGAFODE focused on the health and wellbeing of its staff for them to remain resilient and continue serving its customers.

One key achievement was the coming on board of the Women’s World Banking (WWB) as a shareholder. This puts UGAFODE in a very good position to fulfill its business growth and expansion objectives of reaching out to more women.
With the opening up of the economy, we are looking forward to a promising year 2022.

Additionally, the company plans to leverage on existing ICT infrastructure to digitize its processes and systems that will enable it to serve its customers more conveniently and efficiently.

To achieve this, the company is partnering with selected commercial banks, in conjunction with ABC, to enable our customers to transact (deposits and withdrawals) through their agents.

This will enable UGAFODE to set up low-cost customer service and sales centres to serve better the majority of its rural customers who are engaged in agricultural activities.

Lastly, let me take this opportunity to thank all stakeholders that stood with UGAFODE during the last financial year.