The Uganda Microfinance Regulatory Authority (UMRA) has urged all finance institutions to acquire 2022 operational licenses to enable them run effectively.
Officiating at the opening of UNIFI Loans SMC Uganda Kabalagala branch at Centre Plaza on Wednesday, Rachael Muhereza, manager Microfinances at UMRA said the operational licenses protect all Tier 4 microfinance institutions from untrustworthy customers who would want to cheat them after borrowing.
Tier 4 microfinance institutions include SACCOs, Non-deposit taking microfinance institutions, self-help groups and community-based microfinance institutions and moneylenders.
The branch will bring services closer to employees around Nsambya, Kabalagala, Muyenga, Kasanga, Kibuli and other places in the fast-growing neighborhood.
Martha Walusimbi, the Head of Operations at Unifi Uganda said the launch was also aimed at informing existing and prospective Unifi customers about the *282# USSD mobile application using MTN and Airtel networks at no cost to save time and effort for clients, giving them value for money services, transparency and improvement of service as well as the convenience of access to loans service using their mobile phones.
According to Unifi, the application will give customers an avenue through which they can check their balances, amend their personal details, or report issues as well as Unifi loan requirements to re-loaning.
Michael Boden, the company Country Manager said the countries UNIFI already operates using world-class analytics and technology to offer credit and other finance related products and services are Zambia, Tanzania and South Africa and now Uganda.
UNIFI Loans Uganda is a registered company and is regulated by Uganda Microfinance Regulatory Authority and is a registered by Bank of Uganda
Currently, UNIFI Uganda is extending its significant financial services to clients at its four branches; Wandegeya, Clement Hill Branch, Kabalagala and Parliament Avenue while Ntinda and Mbarara City branches will open in March this year.
Furthermore, UNIFI Uganda plans to open branches in Gulu, Jinja, Bweyogerere, Hoima and Entebbe Cities before the end of 2022.
UNIFI, a new unsecured lender in Uganda, which has been making life easy for customers across Sub-Saharan Africa since 2006, offers short-term cash loans that are repaid after one month and formerly employed persons in the government and private sectors could qualify for their Salary Advances.