Introduction
Florence Namala serves as the regional manager for Kampala Central at BRAC Uganda Bank Ltd. Her journey with the bank began in October 2008 when she joined as a loan officer for the Masaka area, Kyotera unit, shortly after earning her Bachelor of Arts in Education from Kyambogo University. Since then, she has climbed the ranks, becoming a pivotal figure in BRAC’s mission to provide financial education and support to underserved communities.
A Journey of Growth and Dedication
In June 2008, a friend informed Namala about an opening for auditors in Masaka, prompting her to apply for the loan officer position. She was hired and, within nine months, promoted to unit manager, a role she held for three and a half years before becoming the area manager for Kampala in 2011. Namala’s dedication and hard work have led her to her current role as regional manager, where she continues to make a significant impact.
Impacting Lives Through Financial Education
Namala’s work involves interacting with various community members, including single parents running small businesses. She provides financial education and encourages them to seek group loans to improve their enterprises. “It has been God’s will, dedication, patience, hard work, and endurance. Most of my work has been about visiting communities, meeting people from different walks of life, and engaging with them on a personal level, teaching and empowering them,” she says.
Overcoming Challenges in Microfinance
One of the initial challenges BRAC faced was convincing people that they offered unsecured loans without taking property as collateral. “Initially, people were skeptical about our unsecured loans. It took time to build trust that we weren’t out to take anyone’s property,” Namala explains. Another significant challenge was dealing with loan defaults, which was mitigated by the close-knit nature of the communities where everyone knew each other.
Celebrating Successes
Namala finds immense satisfaction in seeing people thrive and grow their businesses and careers. She proudly recalls testimonies of individuals who have built homes, educated their children, and expanded their businesses thanks to BRAC’s support. “Over the past 15 years, I’ve witnessed people achieve career success and receive better job opportunities. Positive feedback from clients and tokens of appreciation from their businesses are incredibly rewarding,” she shares.
Empowering Women in Finance
Namala is committed to supporting women in the finance industry. “My door is always open to anyone interested in this field. I offer training, guidance, one-on-one engagement, mentorship, advice on further studies, and recommendations for promotions and job rotations,” she says. She highlights the progress in gender equality within the banking sector and the numerous leadership programs that have helped women secure key positions.
Future Vision and Mentorship
As part of BRAC’s succession strategy, Namala is mentoring individuals who can take over her responsibilities when needed. “I plan to continue my education and mentor others who can step into my role when the time comes,” she notes. She emphasizes that access to financial services is crucial for addressing issues like poverty and inequality in Uganda.
Personal Reflections and Advice
Reflecting on her career, Namala acknowledges the mistakes she has made, particularly in handling negative feedback from staff. “I used to see negative comments as bad energy, which I regret. Now, I understand the importance of team feedback and setting new goals together,” she admits. She advises aspiring bankers to be patient, continually improve their knowledge, and attend training to advance in their careers.
Insights on Personal Finance and Self-Care
When asked about opening a bank account, Namala advises choosing an accessible bank, having proper identification, and understanding the minimum opening balance. She recalls enjoying a delicious meal at the Golf Course Hotel in November last year during a recognition event. For self-care, she focuses on maintaining good health and always wearing sunscreen.
BRAC Uganda’s Mission and Achievements
BRAC Uganda began as a microfinance institution in 2006, providing financial services like loans and financial literacy to low-income communities, particularly women and girls in rural areas. The organization emphasizes group loans for women, requiring groups of 15 to 30 members with existing businesses. In 2009, BRAC transformed into a Tier II Credit Institution, becoming BRAC Uganda Bank Ltd.
Conclusion
Florence Namala’s dedication to financial education and empowerment has positively impacted countless lives in Uganda. Her journey with BRAC Uganda Bank Ltd. exemplifies the transformative power of financial literacy and the importance of accessible financial services. As she continues to mentor future leaders, Namala remains committed to fostering economic independence and growth within her community.