EFC Uganda Limited Archives

EFC bank depositors with more than UGX 10m to wait longer for refunds

The Bank of Uganda has in a statement said big ticket depositors who held more than UGX 10m in deposits in the collapsed EFC Uganda bank, will have to exercise some patience

January 25, 2024

Banking & Financial Services

Sensing trouble, Shem Kakembo (left), the Managing Director; Denis Kibukamusoke (2nd left), the Executive Director and Gerald Ssevume (centre), the CFO, were the first to jump ship, leaving the Chairman, Charles Nalyaali (2nd right) with both a capital and a people problem.

Inside story: How EFC Uganda sank into a financial crisis

Bank of Uganda, Uganda’s central bank, on January 19th, 2024 placed EFC Uganda Limited under liquidation, revoked its license, and ordered the winding up of its affairs. This in effect fired all

January 23, 2024

Banking & Financial Services·Business & Markets·The Big Story

The secured funds are planned to go towards the financing of SMEs in Uganda

EFC Uganda seals UGX8 billion financing deal for small enterprises

EFC Uganda Limited (MDI) has sealed a financing deal worth UGX 8 billion with Oiko Credit Uganda. These funds are planned to go towards the financing of Small and Medium Enterprises (SMEs)

August 6, 2022

News & Analysis

Shem Kakembo, Managing Director of EFC Uganda

EFC Uganda’s Kakembo: We are a niche player serving exclusively SMEs in Uganda

EFC Uganda Limited (MDI), now in its tenth year, is relatively young in Uganda’s banking arena but has grown over the years by leaps and bound; being listed among the fastest growing

May 25, 2022

News & Analysis·Thought Leadership