Trias partner is the most popular microcredit bank in Uganda
Hofokam has been elected the most popular microfinancing institution in Uganda. During a local event about agricultural financing, farmers voted en masse for this supplier of farmer friendly financing products.
With over 20,000 clients, Hofokam is one of the largest rural banks in Uganda. The institution focuses mainly on providing agricultural credits to groups of farmers.
Like many other financial institutions, Hofokam has recently been promoting their products during a local happening. One of the difficulties for small farmers in the Ugandan countryside is their lack of linkage with the financial sector. This event was primarily aimed at encouraging farmers to discover the advantages of microcredits and saving products.
During the event, prizes were also awarded to financial institutions that market farmer friendly products. Hofokom turned out to be the most popular provider of financing products for groups of farmers. The farmers based their choice on the characteristics of the products that are offered, and on how the financial services are able to service their needs.
To Januario Ntungwa, a Trias employee in Uganda, the award did not come as a surprise. “For the past four years Hofokam has been providing farmers with agricultural loans. And whilst developing their products, the organization paid close attention to the real needs of the farmers,” Ntungwa said. Besides providing loans to farmers, Hofokam also encourages them to save some of their money. Workshops and education also play a pivotal role within Hofokam.