By D E Wasake, Principal,

Basic information


Businesses that have been in operation in Kampala at least 6 months

Sector focus:

No particular sector focuses but skewed towards micro and small entrepreneurs’ (MSEs) market segment including women merchants/traders.

Amounts provided:

Ranging from Shs. 1 million to Shs. 50 million.

Repayment Period:  Up to 36 months

Monthly Interest Rate  2%

Funding type

Loans - with the borrower having collateral and a guarantor.

Key criteria

  • Be an individual entrepreneur or merchant, or other legal entity engaged in income-generating activities;
  • Have his/her business and residence located in Kampala;
  • Have at least 6 months experience in the same  business;
  • Demonstrate a proper record keeping system and the capability of operating a business profitably;
  • Have a guarantor;
  • Have collateral (e.g. business equipment, vehicle, house or land).

Further information

Master Wood Plaza,
1156 Masaka road, Ndeeba
P.O. Box 33667, Kampala, Uganda

Telephone: +256 312 202 556/57


Who is behind the entity?

EFC Limited (EFC Uganda) is a micro finance institution (MFI) that opened for business in the Ndeeba Town of Kampala in June 2012.

It is supported by a number of investors and partners including:

  • Développement international Desjardins (DID) - a subsidiary of Desjardins Group, the ­5th largest cooperative ­financial group worldwide and based in Canada. DID is the main architect of EFC.
  • AfricInvest Capital Partners – A leading private equity ­firm in North and Sub-Saharan Africa.
  • Uganda Gatsby Trust - NGO whose purpose is to support manufacturing and value adding businesses with the potential to grow.
  • Belgian Investment Company for Developing Countries - BIO is a Development Finance Institution (DFI) to support private sector growth in developing countries.
  • Bamboo Financial Inclusion Fund - invests in a range of microfinance institutions and funds worldwide.
  • ASN-Novib Microcredit Fund - Established by ASN Bank and Oxfam Novib, it was the ­first mutual retail fund for Microfinance Institutions (MFIs) in the Netherlands.

What is the application process like?

Based on the key criteria included in the summary above and at their home page, the applicant will also need to submit the following key documents:

  • Premises with a lease agreement or title deed;
  • 1 passport size photo;
  • Photocopy of identity card (driver’s licence / voter’s card / passport);
  • Trading license / TIN / permit from local authorities in his or her own name;
  • Recent municipal electricity or water bill;
  • Business bank statements for the last three months if available.

After meeting the eligibility criteria and submitting the application, we expect the process will take a number of days (potentially weeks) and include the following:

Verification/due diligence visit – to validate the key information like the collateral, the state of the business (e.g review legal documents and analyse books of accounts to validate the profitability of the business)

Legal process to over the collateral and insurance – This will be a legal process that might take a few days as it might include say entering EFC onto a land title deed as a holder of a charge. It also means the entrepreneur will need to take our life insurance.

Our view/tips for success?

1. Proper Books of accounts and analysis: As this is predominantly aimed at active traders, you must also be keeping good books of accounts/records for easy assessment of the business. We suggest you start now to keep your books including having regular meetings (say with an accountant or business partners) to analyse whether you are profitable, what your working capital needs are and whether you can pay the interest (2% per month equals to 24% per annum).

2. Find a mentor: In addition to collateral, a critical aspect of the borrowing is to have a guarantor. We suggest that you find someone who is successful to join your team and hence act as a mentor but also a guarantor.

Otherwise best of luck!  If you need further assistance or guidance, contact our team


Inachee is not an agent or connected to this entity. It is an independent thought leadership and advisory firm.

The information provided is based on our research, experience and if we are able to contact them, by speaking to this entity’s personnel. Whilst we have taken steps to ensure the accuracy of the information presented here, there can be no guarantee that it will remain accurate.