List of Tier 4 Microfinance Institutions Issued Licenses as of 13th November 2018

In May 2016, Parliament passed the Tier 4 Microfinance Institutions and Money lenders Act to Regulate the Tier 4 Microfinance Institutions and Money Lenders with the objective of protecting the borrowers against bad lending and unethical practices of the lenders, to build confidence in microfinance business and promote financial inclusion.

The law enabled the establishment of Uganda Microfinance Regulatory Authority (UMRA) with mandate to promote a sound and sustainable microfinance among the non-bank financial institution’s (Savings and Credit Cooperatives SACCOs, Non-Deposit Taking Microfinance Institutions and moneylenders, Village Saving Groups and loan Associations,) to enhance financial inclusion and consumer protection among the clients.

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