Learn About Unguka Bank and Its Services

Unguka Bank is a financial institution that offers a range of services to its customers. It is headquartered in Uganda and provides banking services to individuals and businesses.

Unguka Bank was established in 1993, making it a well-established bank in the country. It has a strong presence in Uganda's financial sector.

One of the key services offered by Unguka Bank is mobile banking, which allows customers to access their accounts and conduct transactions using their mobile phones. This service is widely available and convenient for customers.

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Uguka Bank's ownership is a bit of a mystery, as the detailed shareholding is not publicly known.

The bank is privately owned, which means that its stock is not publicly traded.

Rural Impulse Fund II (RIF) holds a significant stake, owning 35% of the bank's shares.

This level of ownership gives RIF a substantial amount of influence over the bank's operations and decision-making processes.

Unguka Bank has a remarkable history, established in Rwanda in 2005 with a modest beginning fostered by 214 Rwandan shareholders.

The company's trajectory has been marked by substantial expansion, culminating in a share capital of FRW 5.1 Bn and total assets of FRW 32.2 Billion by June 2023.

Unguka Bank has demonstrated its financial prowess and stability, achieving a net profit of FRW 728 M in 2022.

The company has shown a commitment to financial inclusion and customer satisfaction, which has been a key driver of its growth.

With a focus on recapitalization, adherence to best practices, and embracing technological advancements, Unguka Bank stands ready to enhance service delivery and drive economic growth throughout the country.

Unguka Bank has been on an exciting journey since 2012, and it's amazing to see how far they've come. In 2012, Incofin invested in Unguka Bank, helping the company more than double its total assets from USD 14 million to USD 29 million.

The bank has grown into the largest microfinance bank in Rwanda, serving 1,685 clients. Geert Peetermans, Co-CEO of Incofin, has praised the bank's team for their dedication to building tailored services and deepening outreach among Rwanda's rural MSMEs.

In addition to financing, Incofin provided technical assistance to Unguka Bank to develop an agricultural lending strategy and migrate to a new core banking management system. This was a key part of the RIF II mission to promote socio-economic development in rural areas.

Unguka Bank has made significant contributions to social protection, supporting vulnerable populations by covering school fees for children and constructing shelters. Justin Kagishiro, CEO of Unguka Bank, has expressed gratitude to Incofin for their support and partnership.

LOLC Holdings has taken over Unguka Bank, bringing a wealth of experience from operating in 11 African nations and with investments spanning financial ventures in 21 countries. LOLC Holdings boasts total assets valued at USD 4.8 Billion as of March 31, 2023.

Unguka Bank has undergone a rebranding to LOLC Unguka Finance Plc, which signifies a strategic fusion of Unguka's customer-centric approach with LOLC's global expertise. The company's new motto "Enriching Lives" underscores its commitment to customer well-being and entrepreneurship.

LOLC Unguka Finance Plc aims to provide exceptional products and services, drawing from extensive global expertise within LOLC Holdings. The company is dedicated to advocating for the people, microenterprises, and SMEs in Rwanda.