Opportunity Bank Uganda Limited (OBUL) is a commercial bank licensed and regulated by the Central Bank of Uganda. The bank's headquarters are located at Opportunity House, Plot 1259 Old Kira Road, Kampala. OBUL is a Tier I Financial Institution (full Commercial Bank), licensed by the Bank of Uganda, and is a leading micro-finance institution in Uganda.
Bank of Uganda in Kampala.
Our Mission - “Offering innovative technology-led financial solutions and training to transform the lives of ordinary individuals, micro, small and medium-size entrepreneurs.
History and Evolution
OBUL was founded in 1995 as a Micro Credit program from Food for the Hungry International (FHI). In July 1999, Faulu Uganda incorporated as a limited liability company in Uganda, becoming Faulu Uganda Limited. This microfinance institution was licensed in 1995 and began operations in 1996 as Faulu Uganda, a programme of Food for the Hungry International, a non-governmental organization.
The company later became affiliated with Opportunity International and became a member of their network. Opportunity International specializes in lending to the poorest of the working poor. In 2006, Opportunity Transformation Investments and Opportunity International Australia each purchased a 31.5 percent stake in Faulu Uganda Limited, giving Opportunity International a combined majority stake of 63 percent in the fourth largest microfinance institution in Uganda.
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In December 2009, Opportunity bought the remaining shares of Faulu Uganda, thereby taking outright ownership of the company.
In October 2020, TLG Capital based in the United Kingdom, acquired 49 percent shareholding in Opportunity Bank Uganda in exchange for an undisclosed consideration.
OPPORTUNITY BANK UGANDA REBRANDS
Ownership and Structure
Now OBUL is owned by MyBucks SA (49%) a fintech company listed on the Frankfurt Stock Exchange and Opportunity International group (43%) which focuses on the transformation of communities.
Services Offered
OBUL's vision is to be the bank of choice for all who aspire to a life of dignity and purpose. OBUL's extensive range of products and services includes personal banking, business loans, savings accounts, and investment options, all designed to foster financial inclusion and support economic growth. As a credit institution, it is not authorized to offer checking accounts or deal in foreign exchange. The company was however authorized to take in customer deposits and to establish savings accounts. It is also authorized make collateralized and non-collateralized loans to savings and non savings customers.
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Branch Network and Alternative Channels
OBUL has a network of 23 branches and 22 ATM Points distributed in the Central, Eastern, Western and Northern regions of the country. Alternative channels include Agents distributed across the country and the Opportunity mobile banking system (Opportunity Kusiimu).
One of the Opportunity Bank Uganda Branches.
Commitment to Refugees
Kiva is working with OBUL specifically to finance their program to lend to refugees. OBUL as part of their impact mandate to deliver financial services to rural communities, has identified refugees as a key priority group for serving in 2019 and beyond. Refugees are high on the Bank’s agenda and OBUL is looking at both Nakivale and Rwamanja Settlement as an entry point to finance refugees, to better understand their livelihood and financial lives with a view to offering services which can enhance their opportunities to live independence, self-sufficient, meaningful lives. Kiva is partnering with OBUL to finance refugee loans (group, individual and small SME loan products), primarily to help de-risk the portfolio and allow the bank to expand it’s pilot program more quickly.
Regulatory Changes and Adaptation
Opportunity Bank Uganda Limited (OBUL), is a Tier II credit institution in Uganda. In Q2 2022, the Ugandan Minister of Finance, in consultation with the Bank of Uganda, signed new regulations raising minimum capital levels for commercial banks from UGX:25 billion (approx. US$6.7 million) to UGX:150 billion (approx. US$40 million) by 30 June 2024. Due to its inability to raise the minimum capital requirements as stipulated, OBUL was authorized to downgrade to a Tier II credit financial institution, whose minimum capital requirements of UGX:25 billion (approx.
Financial Overview
The company was owned by five different entities, as of October 2019.
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| Aspect | Details |
|---|---|
| Full Name | OPPORTUNITY BANK UGANDA LIMITED |
| Country | Uganda |
| SWIFT/BIC | OPUGUGKA |
| Address | OPPORTUNITY HOUSE 1259 FLOOR 4 OLD KIIRA ROAD KAMPALA 256 KAMPALA UGANDA |
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