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FMO client Equity Bank Kenya launches banking operations in Uganda

Picture: James Mwangi and Gerrit van Kampen at launch Equity Bank Uganda

On March 30, 2009, Equity Bank, client and partner of FMO in Kenya, officially launched its banking operations in Uganda following the acquisition of Uganda Microfinance Limited in 2008. The event was well attended by both official guests and numerous customers,  included speakers from the Central Bank of Uganda and the Ugandan Justice Department. The event also included inspirational testimonials from clients of Equity Bank Kenya.

Equity Bank is one of the largest banks in Kenya and the leading MFI, serving 3.3 million micro and small clients with total assets in excess of US$1 billion. FMO has provided two loans to Equity Bank Kenya totaling US$53 million (in local currency) and seeks to further support Equity Bank in its regional expansion and low income housing endeavors.

About FMO

The Netherlands Development Finance Company (FMO) is the international development bank of the Netherlands. FMO invests risk capital in companies and financial institutions in developing countries. With an investment portfolio of €4.2 billion, FMO is one of the largest bilateral private sector development banks worldwide. Thanks in part to its relationship with the Dutch government, FMO is able to take risks which commercial financiers are not - or not yet - prepared to take. FMO's mission: to create flourishing enterprises, which can serve as engines of sustainable growth in their countries.

Press contact:

Nicoline van Slingelandt

Communications Officer (PR)

T: +31 70 314 9790

M: +31 622 563 047

E: n.van.slingelandt@fmo.nl