Transparent Pricing Initiative in Uganda
Thank you for your participation in this global movement to practice transparent pricing in microfinance.
Data submitted:
- Kacita SACCO
- Wakiso SACCO
- SAO-Kampala SACCO
- Opportunity Uganda
- Silver Upholders
- APAS Financial Services
- Five Talents Uganda
- BRAC Uganda
- Med-Net
- Y-Save SACCO
- RUCREF
- Gatsby Microfinance
- Ebo SACCO
- Finance Trust
- Rushere SACCO
- The Hunger Project Uganda
- Hofokam
- UGAFODE
- Madfa SACCO
- Centenary Bank
- Equity Uganda
- Habitat for Humanity
In progress:
- FINCA
- KCCC SACCO
- VAD Microfinance
- CENTA SACCO
- Kayonza SACCO
- Emesco Development Foundation Micro Finance Ltd
- ENCOT
- Pearl Microfinance Ltd
MicroFinance Transparency works with MFIs, Central Banks, and investors to bring about pricing transparency in the microfinance industry. MicroFinance Transparency will enable transparent communication between suppliers and consumers of microcredit products. We are the venue for the microfinance industry to publicly demonstrate its commitment to pricing transparency, integrity and poverty alleviation. Our vision is a microfinance industry operating with healthy free market conditions where consumers and other stakeholders can make informed decisions.
Uganda is the second country in the enabling APR & EIR Program to be selected for MicroFinance Transparency’s Transparent Pricing Initiative. Alexandra Fiorillo, Vice President of MFTransparency, will conduct a workshop in Kampala on December 3, 2010 where she will share the new industry standard for calculating interest rates for microcredit products with the leading microfinance institutions and banks in Uganda. Additional workshops will be held in Mbarara and Gulu later in the month, exact dates TBD.
The enabling APR & EIR Program is short for enabling Africa to Price Responsibly & Educate on Interest Rates. A client protection effort of unprecedented scale in Africa, the project will raise awareness of transparent pricing issues in Malawi, Uganda, Rwanda, Ghana, Tanzania, Zambia, South Africa and Mozambique. The main objective of the enabling APR & EIR Program is to promote improved consumer protection principles through microfinance product pricing transparency. It will include three major components: the collection and publication of pricing data, training on pricing transparency, and the development and dissemination of educational materials. For more information about the enabling APR & EIR Program please click here.
MFTransparency would like to thank the Association of Microfinance Institutions of Uganda (AMFIU) for their contribution to the launch workshop and their ongoing support in this Initiative.Now is your opportunity to actively participate in the Transparent Pricing Initiative in Uganda. During the Uganda project, MFTransparency will be collecting information on all micro loan products offered by MFIs and banks. If your financial institution offers micro loan products, you can participate by submitting specific information on those products. Please follow the instructions below to complete the process.
To submit your loan product data to MicroFinance Transparency, please download and complete the following excel workbook:
Deadline to submit data: January 21, 2011
When you have completed the Data Collection Tool, please email it to: data@mftransparency.org Should you have any questions about MFTransparency, the data submission process, or anything else, please email data@mftransparency.org and our team will get back to you within 48 hours to answer your inquiries.
Materials to Download
- MFTransparency Uganda Launch Keynote Address December 3 2010
- MFTransparency Uganda Presentation_Session 1_December 3 2010
- MFTransparency Uganda Presentation_Session 2_December 3 2010
- Calculating Transparent Prices Tool
- Why We Need Transparent Pricing in Microfinance
- Article: The Need for Transparent Pricing
- Two-Page Overview of MFTransparency
- enabling APR & EIR Program
- The Global Transparent Pricing Initiative - How MFIs Can Benefit from Participation
To submit your loan product data to MicroFinance Transparency, please download and complete the following excel workbook:
Deadline to submit data: January 21, 2011
When you have completed the Data Collection Tool, please email it to: data@mftransparency.org
Should you have any questions about MFTransparency, the data submission process, or anything else, please email data@mftransparency.org and our team will get back to you within 48 hours to answer your inquiries.
News & Updates
May 24, 2011
Silver Upholders Blog: Silver Upholders commends the MFTransparency project as a positive and valuable experience. MFTransparency is happy to have Silver Upholders as one of the earliest participants in the Transparent Pricing Initiative in Uganda.
December 6, 2010
Daily Monitor: New initiative to control microfinance interest rates launched
November 17, 2010
Faridah Kulabako, Daily Monitor: Minister warns Saccos on High Lending Rates
November 7, 2010
The OBSERVER: Barclays in a Shs 36 bn rural banking project
November 4, 2010
Anne Perkins, The Guardian: Katine livelihood project unleashes potential
Chris Ocowun: Acholi Defaulting SACCOS Face Legal Action
October 18, 2010
MFTransparency: MFTransparency and the Association of Microfinance Institutions of Uganda to Launch the Transparent Pricing Initiative in Uganda
June 7, 2010
MFTransparency: MFTransparency Partners with The MasterCard Foundation to Promote a Fair and Transparent Microfinance Industry in Eight African Countries
Instructions for Data Collection Process
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Instructions
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Notes
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Step 1
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Fill out the basic information on the “MFI INFO” sheet
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Please note the “Number of Incomplete Data Points” counter as you fill in information. |
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Step 2
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Fill out a “LOAN PRODUCT” worksheet for every loan product you have, following instructions on the sheet carefully. | If you have questions after reading the instructions, feel free to e-mail us for clarification. The data tool has capacity for up to 10 loan products. If you have more, simply use multiple copies of the data collection tool. |
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Step 3
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Collect sample repayment schedules for EACH product using the guidance contained in the tool. | Please note: The data tool indicates how many samples are needed, and what loan amounts they should be for. They should be loans that were disbursed within the past two months. |
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Step 4
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Double check your work, perhaps with a colleague, to ensure accuracy of the data. | Verify that there are no incomplete cell errors or the data approval process will fail. You will be able to save the incomplete file, however. |
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Step 5
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Email data@mftransparency.org to request a confidential authorization code. This code is needed to insure that the data is being submitted by an authorized representative of the organization. Please include the name and email address of your Executive Director (or equivalent) in this request. | The confidential code will only be sent via email to the Executive Director / General Manager (or equivalent) of your institution. |
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Step 6
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MFTransparency will email the Executive Director (or equivalent) the confidential authorization code. |
We strive to return this code within 24 hours.
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Step 7
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Have the Executive Director (or equivalent) of your institution do a final review of the data and APPROVE its submission on the “Approval Sheet”, with the confidential authorization code. | Once approved, all data in the tool will be LOCKED and nobody can make any changes. If you notice changes that need to be made after you lock the worksheet, please contact us. |
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Step 8
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Email this workbook and the repayment schedules to data@mftransparency.org. If you cannot email the repayment schedules, please contact data@mftransparency.org to obtain a fax number you can use. | |
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Step 9
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MFTransparency will contact you and your Executive Director (or equivalent) if we have any questions regarding the data. Please contact data@mftransparency.org with any questions or concerns you may have throughout the process. |