The name may be familiar to some of you; most likely because its sister company, Tujijenge Tanzania, is already operating on the MYC4 platform and has been a Provider since early 2009. Tujijenge Uganda brings something new to the platform though: a focus on small farmers and agricultural loans.
Its head office is located in the small border town, Busia, in Eastern Uganda, but Tujijenge Uganda’s MYC4 loans will primarily be managed from its branch in Soroti, about 300 kilometers from Kampala, where more than 90 % of the clients are rural. Loan sizes will range from a minimum of €200 up to € 7,000, with a maximum payback period of 12 months.
Tujijenge Uganda describes its main product like this;
“The agricultural loans are advanced to support a grossly under-served population regarding financial services. The target market is small farmers focusing on the keeping of livestock like goats, chicken, piggery, apiary and citrus fruit farming. Loans are advanced to buy animal feeds, the animals, pesticides and bee keeping equipment.”
Throughout this week MYC4’s Nairobi staff will be training the Tujijenge Uganda team on how to be a Provider on the MYC4 platform. We expect the first loans to be opened for bidding Wednesday or Thursday. If you want to know more about Tujijenge Uganda, you can visit the new MYC4 Provider Profile here.