Community Microfinance Limited (CML) is a Ugandan private limited company that was incorporated in October 2009. The idea of starting the Company was initiated by Moses Nsereko Kayongo, who was later joined by five other Directors. The establishment of the Company was sparked off by the realization that, despite the current range of financial institutions operating in Uganda, the outreach of microfinance in the country remains low. In Uganda it is estimated that only about 30% use financial institutions both formal and informal. Accordingly, CML acquired a money lenders license which, by law grants it the powers to carry on the business of lending anywhere in Uganda.
Company Location and Facilities
CML currently operates from rented premises in Nansana Town Council, Wakiso District, which is a strategically-located Commercial township on Kampala-Hoima Road. The company plans to acquire its own premises in the long run, and equip it with the basic facilities for running a microfinance institution.