Products & Services

For one to consume our products and services, they MUST be:

  1. 18 and above years of age;
  2. a Member of the alumni of Nabumali High School; and
  3. a Subscriber to Nabumali89.

Subscription

Ugx
10,000 ANNUAL ADMIN FEE per member
Ugx 100,000 for non-cohort members for Year #1
10,000 SHARE, each member can buy only one share
5,000 SHARE CERTIFICATE, this is a one-off charge

100,000 Monthly Minimum CONTRIBUTION per member;
Non-cohort members will save a minimum of Ugx 1.2M to qualify to buy a share.

Profits generated from Nabumali89 investments are shared based on when and how much a member saved.

Real estate is currently a highly viable investment option. Our group actively invests in this sector, and profits are distributed among subscribers once the asset has generated adequate returns.

We offer the following credit products to our members:

Education Loan

Max Loan Period: 4 Months

Business Loan

6 Months

  • Maximum Loan Amount: Three-times Borrower’s Savings
  • Loan Processing Fee: 1% of loan amount or Ugx 30,000 whichever is more
  • Interest rate: 3.0% per month, FLAT Rate
  • Loan Collateral:
    • Loans are guaranteed with members' savings. Total Savings Guarantee MUST equal to 100% of loan principle;
    • For loan amounts less than the borrower’s savings available for loan guarantee, only the borrower’s savings will be used as loan guarantee;
    • For loan amounts above the borrower’s savings a minimum of Two guarantors is required;
    • All guarantors MUST be members of Nabumali89
  • Penalty: 3% per month of principle overdue

Management is in discussions with the Board to test two new investment options: bonds and small, quick short-term loans. Updates will be shared soon.

Nabumali89 is a community-based savings and loans group (VSILIG) that addresses the lack of access to formal banking services in Uganda.

The group's members contribute a regular amount of money to a communal savings account. These savings are then used to provide loans to members who need them and to enable the members invest as a group at least risk. Nabumali89 is self-managed, meaning that the members themselves are responsible for running the group and making decisions about how the money is used. This model is simple and inexpensive to operate; it hardly demands the regulation and set up required by Tier IV institutions. This makes Nabumali89 more accessible to its members and allows it to adapt quickly to the needs of its members and respond to local economic conditions.

Nabumali89 is effective in promoting financial inclusion and improving the economic well-being of its members. The group provides a safe place for its members to save money and access affordable credit. This can help members build up their savings, finance their needs, and improve their financial security. Nabumali89 is also an important tool for empowering its members and giving them a voice in their community.

Overall, Nabumali89 is an important initiative that is helping to improve the lives of people in Uganda.