Impact fund manager Equator Capital Partners LLC is pleased to announce its ShoreCap III, LP fund has completed a minority equity investment in BRAC Uganda Bank Limited (formerly known as BRAC Uganda Microfinance Limited). The investment was made alongside, and in close coordination with, co-investors Triple Jump and DEG. Enclude Capital Advisory UK Limited, a specialist impact investment bank owned by Palladium and longtime partner to BRAC, acted as the sole financial advisor.
Established in 2006, BRAC Uganda Bank Limited has become the country's largest microfinance institution. It is part of the global non-governmental organization BRAC, which was founded in Bangladesh in 1972 and now operates in 13 countries. Alongside its focus on microfinance, BRAC is meaningfully involved in the health, nutrition and education sectors. With 163 branches and 1,800 employees throughout the country, BRAC Uganda Bank Limited provides loans to more than 200,000 customers, primarily women from poorer sections of the population in rural areas.