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Friday, 15 January 2016

Dutch financier in Ugandan $3m loan

“This financing will enable EFC Uganda to support job creation in Uganda. It will provide access to finance for MSEs in Uganda which will stimulate economic development and innovation,” Nanno Kleiterp, the CEO of FMO said.  He said: “EFC Uganda is a valuable addition to our relationship with EFC Tanzania and EFC Zambia, as well as with Développement International Desjardins. We look forward to expand our cooperation and continue to develop much needed financing solutions together.” Claude Lafond, the Managing Director of EFC Uganda Limited., said: “We are honored to have FMO come on board to support EFC Uganda. FMO has had a long standing relationship with EFC as it has supported our operations in Zambia, Uganda and Tanzania in the past. We believe that this continued partnership will push EFC Uganda a step further to becoming the preferred financial services partner for MSEs in Uganda.” Launched in 2012, EFC Uganda which was previously operated as EFC Limited figures among the fastest growing financial institutions in Uganda. According to a release, in addition to the loan, EFC Uganda Limited will also receive a grant of 100,000 euro.  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 MSEs.   FMO is one of EFC Uganda’s longest financial supporters.

Source: East African Business Week