Opportunity Uganda Limited

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$20.53 million (2015)[1]
Number of employees
 365 (2015)[1]
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, a 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 December 2015, the institution's total assets were valued at US$20.53 million, with shareholder's equity of US$7.86 million.[1]

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 is owned by five different entities, as of October 2016.[8]

Opportunity Bank Uganda Stock Ownership
Rank Name of OwnerPercentage Ownership
1 MyBucks
49.00[9]
2 Opportunity Transformational Inc
36.79
3 Faulu Trust
7.14
4 Opportunity International Canada
6.06
5 Food for the Hungry Organization
1.01
Total
100.00

Branch network

The branch network of OBUL has included the following locations:[10]

  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
  18. Hoima Branch - Hoima
  19. Mukono Branch - Mukono
  20. Soroti Branch - Soroti

See also

References

  1. 1 2 3 TMO (31 December 2015). "MFI Report: Opportunity Uganda Data As At 31 December 2015". Themix.org (TMO). Retrieved 14 October 2016.
  2. ↑ Google (14 October 2016). "Location of the Headquarters of Opportunity Bank Uganda" (Map). Google Maps. Google. Retrieved 14 October 2016.
  3. ↑ BOU (30 June 2015). "List of Licensed Credit Institutions As At June 2015" (PDF). Bank of Uganda (BOU). Retrieved 14 October 2016.
  4. ↑ ., . "History of Faulu Uganda Limited". List-Company.com. Retrieved 14 June 2014.
  5. ↑ Kamau, Scola (16 December 2009). "Faulu Uganda Rebrands to Opportunity Uganda". Daily Monitor. Retrieved 15 June 2014.
  6. ↑ Vision, Reporter (14 December 2009). "US-based Group to Take Over Faulu". New Vision. Retrieved 15 June 2014.
  7. ↑ Kalungi, Nicholas (24 November 2011). "Opportunity Uganda Takes On New Name". Daily Monitor. Retrieved 15 June 2014.
  8. ↑ OBUL (9 August 2016). "Opportunity Bank Uganda Limited: Shareholding". Kampala: Opportunity Bank Uganda (OBUL). Retrieved 9 August 2016.
  9. ↑ Busuulwa, Bernard (11 October 2016). "Uganda: Mybucks Enters Uganda With 49 Percent Stake in Opportunity Bank". The EastAfrican. Nairobi. Retrieved 14 October 2016.
  10. ↑ OBUL (14 October 2016). "The Branches of Opportunity Bank Uganda". Kampala: Opportunity Bank Uganda (OBUL). Retrieved 14 October 2016.

Coordinates: 00°19′48″N 32°35′13″E / 0.33000°N 32.58694°E / 0.33000; 32.58694

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