By continuing to support DFCU, a highly-diversified development finance institution whose banking subsidiary conducts leasing operations in Uganda, Proparco is contributing to private sector development in the country.
DFCU was created in 1964 by the Republic of Uganda and the UK’s CDC in the form of a development finance institution. It has since diversified and become a leading commercial bank via its subsidiary DFCU Bank. Its range of products includes loans, leasing and mortgage financing. Since 1994, DFCU has been leading the development of leasing operations in Uganda. It has a network of 450 branches and 600 employees.
Proparco’s financing will support DFCU’s development. It will allow the bank to offer its private customers and SMEs financing with a longer maturity and loans in dollars. It is Proparco’s fourth financing for DFCU.
By supporting access to financing for Ugandan companies, this operation will contribute to private sector development in Uganda. The project aims to create or maintain over 1,000 jobs by 2018.