By Our Reporter
The Entrepreneurs Financial Centre (EFC), a micro finance institution based in Kampala has received US$ 3 million from its Dutch Partners FMO (The Entrepreneurial Bank of the Netherlands). The loan will run for a tenure of 3 years and has been granted under a fund that FMO manages on behalf of the Government of the Netherlands. The specific purpose of the fund is to support the financing of micro and small enterprises in emerging markets like Uganda.
In addition to the loan, EFC will receive a grant of EUR 100,000. This grant will enable the company to strengthen its operations and to build the capacity of its staff in order to better serve Uganda’s Micro and Small Enterpreneurs (MSEs).
Nanno Kleiterp, the CEO of FMO said, “This financing will enable EFC to support job creation in Uganda. It will provide access to finance for MSEs which will stimulate economic development and innovation. EFC is a valuable addition to our presence in Tanzania and Zambia and it further cements our relationship with Développement International Desjardins (DID). We look forward to expand our cooperation and continue to develop much needed financing solutions together.
