FAQs - Obumwe Microfinance

obumwem@gmail.com

Rooms 206 & 207 Level 2 Kirabo Complex, Bukoto -Kisasi Road, Kampala –Uganda, P. O. BOX 37217

+256774 420863

Mon-Sat: 8am - 6pm

Obumwe Microfinance

1. What is Obumwe Microfinance Ltd?

Obumwe Microfinance is a licensed financial institution by UMRA that provides affordable financial services such as loans, helps and advises members to form savings group, and financial literacy support to individuals, groups, and small businesses. Its main aim is to promote financial inclusion and improve the livelihoods of people through access to capital and tailored financial solutions.

2. Who can access services from Obumwe Microfinance Ltd?

Any individual, Civil servants, low income earners, registered group, or business that meets the institution's requirements can access its services. Clients go through an assessment process to determine eligibility and financial needs.

3. What types of loans does Obumwe Microfinance offer?

Obumwe Microfinance provides a range of loan products including business loans, salary loans, school fees loans, agricultural loans, and emergency loans. Loan amounts, interest rates, and repayment periods vary based on the type of loan and the client’s financial profile.

4. Who can join Turi Obumu Savings Group?

Any individual and any other member from vulnerable group who is willing to commit to saving regularly, attend meetings, and abide by the group’s constitution is welcome to apply for membership. The group admits new members through a simple registration process and usually by recommendation or invitation.

5. How does the savings system work?

Members contribute fixed savings amounts regularly, usually weekly or monthly, during group meetings. The pooled savings form a fund from which members can borrow based on the group’s policies and their savings history.