Response to COVID-19

Coronavirus has been declared by the WHO as a pandemic and according to the IMF boss, the virus is expected to cause more problems in the financial services ecosystem than the 2008 -2009 economic recession where many of the customers could not settle their loan obligations. The Uganda Government through the Central Bank has listened to the concerns of many loan customers who are unable to settle their loan obligations and asked Financial Institutions to restructure the loans on a case by case basis. At UGAFODE, we have realigned our operations and put in place measures that are aimed at triggering behavior change to prevent the spread of the virus as we continue with our operations to serve our customers, stakeholders and the general public.