UFC Plc History

Umutanguha Finance Company Plc (UFC) (Umutanguha: meaning loyal friend) is a Rwandan, privately owned financial institution established in 2003 as the first cooperative savings and loan institution, which became a joint venture in 2006 and then in 2013 became a fully-owned private financial institution. UFC Plc started providing full-service financial services.

Since 2013, UFC PLC has undertaken two cooperative consolidation activities and acquired 2 microfinance cooperatives in 2016 and 2018. UFC PLC aims to become a microfinance institution as well as 2 microfinance cooperatives through the consolidation of financial institutions. To date, UFC Plc has a good profit margin, a good performance in terms of self-sufficiency for its members, and already has 21 branches in all provinces of Rwanda.

Our Message

Providing sustainable and client-led services and pursuing non-financial services based on the values of partnership. Our target group is all citizens with potential who need money for their development and who cannot afford to work with large financial institutions. We focus especially on farmers and herders, entrepreneurs, women, and youth, especially those living in rural areas, to help them improve their lives.

Our Vision

UFC PLC's vision is to be a leading financial institution that contributes to household wealth, especially in rural and urban areas, through the integration of our system and branch network in the country. UFC PLC is committed to welcoming its customers and providing them with differentiated services. Our open policy embraces all those who want to access quality financial services. UFC PLC's vision is to provide affordable, quality financial services and provide various innovative services. UFC Plc is committed to being at the forefront of providing financial services, training, and community development.

Our values

Integration, mutual acceptance for all, customer focus, training, collaboration between financial and non-financial services, unity, and cooperation among shareholders.

Board of Members

Board members play a key role in bank management by overseeing the goals and objectives of financial institutions.

BOARD OF DIRECTORS

The Board of Directors has the overall responsibility of setting the direction of the Bank and overseeing the Senior Management. It also ensures that the governance process and its implementation within the Bank and the management team are consistent at all times.

The members of the Board of Directors of UMUTANGUHA FINANCE COMPANY Plc are:

Board of Directors

S/N	NAMES	Position
1	Mrs. MALADO KABA	Chairman
2	Mr. MBABAJENDE Anastace	Deputy Director
3	Mr. Georges ASSEVI	Member
4	Mrs. Holy GARNIER	Member
5	Mr. UKOBIZABA Laban	Member
6	Mrs. Emilie DECRAENE	Member
7	Mr. Mahmoud RAJAN	Member

DUTIES OF THE BOARD OF DIRECTORS

The Board of Directors is responsible for:

to review and approve the Bank's strategic plans for implementation and management;

to review and approve the Bank's financial statements;

to review and approve the Bank's financial objectives, business plans, and budget, including disbursements and disbursements;

to monitor the Bank's performance in relation to its business plans, operations, and budget;

to implement and monitor the Bank's strategic plans;

approve acquisitions and divestitures of businesses, strategic investments, partnerships and major business development activities;

approve management delegations for all non-recurring expenses;

establish and monitor the overall governance structure of the Bank, including the structure of the Bank and its Board of Directors and all changes and programs of the Bank and its working groups;

To review its own performance in carrying out its responsibilities, including monitoring the performance of individual directors.

The Board of Directors meets at least quarterly but may hold special meetings to address urgent matters requiring the Board of Directors to take decisions.

SENIOR MANAGEMENT

The members of the Board of Directors have the overall responsibility of setting the direction of the Bank and overseeing the Board of Directors.

The members of the Board of Directors during the year are as follows: