BRAC Uganda reaches 100,000 microfinance borrowers

Microfinance Focus, Nov. 08, 2009: BRAC Uganda, a subsidiary of BRAC Bangladesh has crossed 100,000 borrowers in 3.5 years of its operation in Uganda, said in the BRAC`s  official blog .

Sarah Mukama, living in Mawuba village close to town of Bugembe, yesterday  became BRAC Uganda’s 100,000th borrower. She borrowed 250,000 Ugandan Shillings (US $130), which she intends to use to buy insecticides and fertilizers for her crops. Mr. Ariful Islam, the Country Program Coordinator of BRAC Uganda personally disbursed Sarah’s loan and congratulated her for becoming BRAC Uganda’s 100,000th borrower.

BRAC Uganda has reached 100,000 borrowers in less than 3.5 years with an average annual borrower growth rate of 139%. Fazle Hasan Abed, the Founder and Chairperson of BRAC disbursed BRAC Uganda’s first ever loan in June 2006 at the Iganga branch.
“BRAC Uganda’s success was possible due to the dedication, hard-work and commitment of the staff in Uganda and also due to the leadership and vision provided by BRAC’s senior management team in Bangladesh”, company said in the official blog release.

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