EFC Uganda Limited Company Profile and Shareholding Structure

EFC Uganda Limited is a leading financial services provider in Uganda, with a strong presence in the country's banking and insurance sectors. The company was founded in 1964.

EFC Uganda Limited is a subsidiary of EFC Holdings Limited, a financial services conglomerate with operations in several African countries. EFC Holdings Limited is the ultimate parent company of EFC Uganda Limited.

EFC Uganda Limited has a diverse shareholding structure, with various institutional and individual investors holding stakes in the company.

EFC Uganda Limited is a leading manufacturer of high-quality cement in Uganda. The company was founded in 1994.

EFC Uganda Limited is a subsidiary of the Ethiopian Cement Share Company, a well-established player in the cement industry.

The company's head office is located in Kampala, Uganda's capital city.

EFC Uganda Limited has a strong presence in the Ugandan market, with a wide distribution network that covers the entire country.

EFC Uganda Limited's financial issues led to its closure by the Bank of Uganda, which has taken control of the microfinance deposit-taking institution.

The bank has placed EFC Uganda under liquidation, revoked its licence, and ordered it to wind up its affairs due to poor corporate governance and significant undercapitalization.

Depositors with funds exceeding the Shs10mn insurance cap will only be paid after insured depositors and secured creditors have been paid, as well as after the liquidator has been reimbursed for expenses and employees have received their wages and salaries.

Other creditors of EFC Uganda must submit their claims to the office of the director of financial stability within 30 days.

Shareholding is an essential aspect of a company's financial structure. The shareholding in EFC Uganda Limited as of August 2016 was dominated by foreign investors.

Développement international Desjardins of Canada held the largest percentage of ownership, followed closely by AfricInvest Financial Sector Limited of Mauritius. These foreign investors played a significant role in shaping the company's financial decisions.

Uganda Gatsby Trust of Uganda was the third-largest shareholder, indicating local involvement in the company's operations. BIO of Belgium, Bamboo Financial Inclusion Fund of Mauritius, and ASN-Novib Microcredit Fund of the Netherlands also held substantial stakes in EFC Uganda Limited.

The company's employees and customers also had a share in the ownership, with the EFC Uganda Employee Stock Ownership Fund and EFC Uganda Customer Stock Ownership Fund holding a combined percentage of ownership. This demonstrates a commitment to employee and customer involvement in the company's financial affairs.

Here is a breakdown of the shareholding structure:

The closure and liquidation of a financial institution can be a complex and sensitive process. EFC Uganda Limited, a microfinance deposit-taking institution, was placed under liquidation by the Bank of Uganda on January 19, 2024, due to significant undercapitalization and poor corporate governance.

The central bank revoked the institution's license and ordered it to wind up its affairs. In a statement, the Bank of Uganda cited the institution's failure to resolve its significant undercapitalization and poor corporate governance as detrimental to the interests of its depositors.

The Bank of Uganda and the Deposit Protection Fund of Uganda will inform depositors of the arrangements that will be put in place to enable them to access all of their deposits. All other creditors are requested to submit their claims to the Office of the Director of Financial Stability within 30 days from the date of this statement.

The liquidation process involves the sale of the institution's assets to pay off creditors and depositors. Depositors with funds exceeding the Shs10mn insurance cap will be paid by the liquidator after the assets have been sold off, but only after insured depositors and secured creditors have been paid.

Here is a list of institutions that can be contacted for information on the liquidation process:

Borrowers of EFC Uganda Limited must continue to service their loan obligations by making payments at Bank of Uganda offices and branches.

EFC Uganda Limited is focused on supporting Micro and Small Entrepreneurs (MSEs) in Uganda, providing them with access to finance to stimulate economic development and innovation.

EFC Uganda Limited was established in 2012 by Developpement international Desjardins (DID), a subsidiary of Desjardins Group, the largest cooperative financial group in Canada.

EFC Uganda Limited obtained the Microfinance Deposit-taking Institution status from the Central bank in 2014, marking a significant milestone in its journey.

Our customer is the Micro and Small Entrepreneur (MSE), a crucial segment that EFC Uganda Limited is dedicated to supporting.

EFC Uganda Limited was established in 2012 by Developpement international Desjardins (DID), a subsidiary of Desjardins Group, the largest cooperative financial group in Canada.

For over 40 years, DID has been working with developing and emerging countries to share expertise and experience, ultimately leading to the establishment of EFC Uganda Limited.

EFC Uganda Limited obtained the Microfinance Deposit-taking Institution status from the Central bank in 2014, a significant milestone that underscores its commitment to MSE financing.

Our funding goal is to support job creation in Uganda by providing access to finance for MSEs, which will stimulate economic development and innovation.

This financing will enable EFC Uganda Limited to expand its reach and become a valuable addition to FMO's relationship with EFC in Tanzania and Zambia, as well as with DID.

EFC Uganda Limited provides employment opportunities for local Ugandans, with a focus on hiring staff with relevant skills and experience. The company has a team of over 50 employees, including engineers, technicians, and administrative staff.

The company operates under the regulatory framework of the Uganda National Bureau of Standards (UNBS), which ensures that all products meet the required standards. EFC Uganda Limited also complies with the country's labor laws, providing a safe and healthy work environment for its employees.

The company's commitment to employment and regulation is evident in its approach to hiring and training local staff, which has contributed to its success in the Ugandan market.

The institution has a network of branches located throughout Kampala. As of December 2015, they had a total of six branches.

The Kololo Branch is situated on the ground floor of the Acacia Place Building at 6 Acacia Avenue in Kololo. It's easily accessible and has a great view of the surrounding area.

The Ndeeba Branch is located in the Master Wood Plaza on Kampala-Masaka Road, and it's actually the main branch. If you're in the area, it's worth stopping by to see what they have to offer.

The Kireka Branch is found at 1525 Kampala-Jinja Road, and it's a great option if you're in the northern part of the city. Just head down the road and you'll find it easily.

The Nansana Branch is located on Kampala-Hoima Road, and it's a convenient option if you're traveling through the area. It's not as well-known as some of the other branches, but it's definitely worth a visit.

Here are the addresses of all the branches listed above:

The Bank of Uganda has taken control of EFC Uganda Limited, a microfinance deposit-taking institution, due to its failure to meet minimum capital requirements and poor corporate governance.

The regulator has placed the institution under liquidation and revoked its licence, ordering it to wind up its affairs.

Depositors with funds exceeding the Shs10mn insurance cap will be paid by the liquidator after the assets of EFC Uganda have been sold off.

Other creditors of EFC Uganda must submit their claims to the office of the director of financial stability within 30 days.

Borrowers must continue to service their loans by making payments at the banks' offices and branches.

The Bank of Uganda will inform depositors about the arrangements that will be made to allow them to access their funds.

The central bank has also requested that anyone who is in possession of property belonging to EFC Uganda should hand it over to the office of the director of financial stability.

Payment to large depositors will only occur after insured depositors and secured creditors have been paid, as well as after the liquidator has been reimbursed for expenses incurred during the liquidation process, and employees have received all due wages and salaries.

Employment at MDI is a significant aspect of EFC Uganda Limited's operations. 51 people are employed at EFC Uganda Limited (MDI).

Having a smaller workforce can be beneficial for employee engagement and company culture. The NAICS codes for EFC Uganda Limited (MDI) are 5221, 522110, 522, 52, and 52211.

The SIC code for EFC Uganda Limited (MDI) is a specific classification that helps identify the company's industry and activities. The SIC codes for EFC Uganda Limited (MDI) are 60, 602.

Understanding SIC codes is crucial for businesses and regulatory bodies to ensure compliance with industry-specific regulations.

The SIC code 60 indicates that EFC Uganda Limited (MDI) operates in the "Food, Beverages and Tobacco" sector.