EBO SACCO was founded by a group of three people in July 1995 in the village of Rutooma, Kashari County.
The MFI became later a regulated cooperative and an action plan was put in place to strengthen the organisation and comply with the requirements of the Central Bank. In 2002, EBO obtained technical and financial support from the Uganda Cooperative Alliance, was officially registered and started its activities as a savings and credit cooperative.
EBO’s mission includes clear social objectives as “improve the living conditions of members with modest conditions”.
The cooperative operates in western Uganda and is characterised by a strong social impact: a rural focus (95% of clients) and agricultural focus (96% of the portfolio). The institution offers financial products for the crop year or for investments in machinery or other assets. The main agricultural activities financed are banana, coffee and milk production.
The institution finances 33,311 micro-entrepreneurs through its 6 branches located in the west of the country, of which 5 are in rural areas. 32% of their clients are women. The loan can be disbursed individually or as a group loan (25 people on average) and the average disbursed loan per customer is of USD 907.