Through Sustainable Financial Interventions Accelerating Socio-economic Development Accelerating Socio-economic Development through Sustainable Financial Interventions Plot 6 Nakasero Road Rwenzori Towers, 1st Floor, Wing B P.O.Box 7210, Kampala, Uganda Phone: +256 414 355 550 / +256 414 355 555 / +256 414 355 556 Email:
[email protected] 2018 ANNUAL REPORT 2018 Annual Report 1 ACCELERATING SOCIO-ECONOMIC DEVELOPMENT THROUGH SUSTAINABLE FINANCIAL INTERVENTIONS OUR MANDATE To operate as Uganda’s Development Finance Institution, particularly through interventions in priority sectors and in line with the Government of Uganda’s development priorities. TABLE OF CONTENTS COMPANY GOVERNANCE SUSTAINABILITY OVERVIEW 01 13 REPORT 41 Our Business Model 4 Chairman’s statement 14 Key Sustainability Highlights 42 Our Strategy 6 The Board of Directors 16 Sustainability Report 45 Managing our Key Risks Managing Director’s 18 Corporate Social Investments 64 8 and Opportunities statement Financial Sustainability 67 Our Operational Structure 9 The Executive Committee 22 Committed to Good Engaging with our Stakeholders 10 24 Corporate Governance FINANCIAL FINANCIAL HUMAN CAPITAL SUSTAINABILITY 71 76 STATEMENTS 82 2018 Annual Report 3 ACCELERATING SOCIO-ECONOMIC DEVELOPMENT THROUGH SUSTAINABLE FINANCIAL INTERVENTIONS DEFINITIONS Value of Output: This is the measure of total Earnings per share (Shs): Earnings attributable to economic activity in the production of new goods ordinary shareholders divided by the weighted and services in an accounting period for the UDB average number of ordinary shares in issue funded projects. It is a much broader measure of the economy than gross domestic product (GDP), Return on average assets (%): Earnings as which is limited mainly to final output (finished a percentage of average total assets goods and services).