Deposit Protection Fund of Uganda

What Deposit Protection Fund of Uganda does

The Deposit Protection Fund of Uganda (DPF) is the statutory deposit insurer of Uganda, established by the Financial Institutions Act (predecessor legislation enacted 1994) and operationalized in 2017. DPF insures deposits held at licensed Ugandan deposit-taking institutions up to a statutory limit of UGX 10 million per depositor per bank, currently covering approximately 20.9 million of 21.3 million deposit accounts (over 98% by count). Membership is mandatory for all 33 licensed deposit-taking institutions in Uganda, comprising 25 commercial banks, 4 credit institutions, and 4 microfinance deposit-taking institutions (MDIs).

DPF's underlying technology platform consists of two core systems: the Deposit Protection Premium Management System (DPPMS), which manages member premium collection and fund accounting, and the Single Customer View (SCV), which aggregates depositor records across member institutions using National Identification Number (NIN) matching to enable rapid payout execution. This infrastructure enabled first depositor payouts following the 2024 failures of EFC and Mercantile Credit Bank within an average of 4–6 days, materially outperforming the 90-day statutory payout ceiling.

The business model is funded through statutorily mandated risk-adjusted premiums paid by member institutions on insured deposit balances, supplemented by investment income on accumulated reserves. As of June 2025, DPF held UGX 1,890 billion in total assets and UGX 1,830 billion in reserves, generating UGX 267 billion in comprehensive income for FY2024/25 (a 25% year-on-year increase). The fund has grown approximately 5x since operationalization in 2017 from a starting base of UGX 470 billion. DPF is governed by a Board chaired by Mr. Ben Patrick Kagoro with executive leadership from CEO Dr. Julia Clare Olima Oyet, headquartered in Kampala, and currently chairs the Africa Regional Committee of the International Association of Deposit Insurers (IADI).

Name

Deposit Protection Fund of Uganda

Legal name

Deposit Protection Fund of Uganda

Website

https://dpf.or.ug

Company type

Private

Founded year

1994

Operating status

Operating

Headcount range

51–100 employees

Short description

The Deposit Protection Fund of Uganda (DPF) is the statutory deposit insurer of Uganda, insuring deposits up to UGX 10 million per depositor across 33 member banks and credit institutions. It covers over 98% of the country's 21.3 million deposit accounts and operates a Single Customer View system enabling payouts in 4–6 days.

Ownership category

akta.pro rank

Product category

Deposit Insurance

NAICS

Insurance and Employee Benefit Funds (5251), Other Insurance Funds (525190)

SIC

Federal & Federally-Sponsored Credit Agencies (6111), Functions Related To Depository Banking, Nec (6099)

akta.pro primary industry

Emergency, Stabilization & Crisis Response Financing (BPADACAM)

akta.pro secondary industry

Government & Public Sector Disbursements (Tax Refunds, Benefits) (FSAMAKAJ)

Keywords

• Deposit insurance
• Financial stability
• Depositor protection
• Statutory fund
• Premium management

Headquarters

HQ city

Kampala

HQ country

Uganda

HQ region

Africa

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. Statutory Premium Contributions: All Bank of Uganda-supervised deposit-taking institutions (commercial banks, credit institutions, and microfinance deposit-taking institutions) are required by law to pay annual statutory premiums to the Fund. Premium computation is handled through the Depositor Payout and Premium Management System.
2. Investment Income: Fund assets are invested in treasury instruments (government securities). Total assets grew from UGX 1,622 billion (June 2024) to UGX 1,890 billion (June 2025) primarily driven by increased investments in treasury instruments.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels10 records

Core offering

The Deposit Protection Fund of Uganda (DPF) is a statutory government agency that provides deposit insurance to depositors of deposit-taking institutions licensed by Bank of Uganda, guaranteeing deposits up to UGX 10 million per depositor per bank. The Fund collects annual statutory premiums from 33+ contributing institutions (25 commercial banks, 8 credit institutions, and 4 microfinance deposit-taking institutions), invests those premiums in government treasury instruments, and pays out protected deposits within an average of 4-6 days when Bank of Uganda closes a member institution.

Product overview

Deposit Protection Fund of Uganda operates as a unified deposit insurance platform providing protection to depositors of licensed deposit-taking institutions. The core offering is deposit insurance coverage up to UGX 10 million per depositor per bank, supported by an integrated Depositor Payout and Premium Management System that enables efficient premium billing and rapid depositor compensation. The Fund manages the Single Customer View (SCV) project for depositor data management and provides resolution/liquidation services when appointed by Bank of Uganda. Supporting services include public awareness campaigns, on-site inspections of Contributing Institutions, and an internship program for developing young professionals.

Differentiator

Problem solved

Functional benefit

Products and services

• Deposit Insurance Protection
• Depositor Payout Services

Quantifiable outcome

• Depositors can be compensated within 4-6 days on average (versus statutory 90 days requirement)
• +3 more outcomes

Named customers9 records

Segments6 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Eleven partnerships are on record, tiered core and minor.

• Uganda Institute of Banking and Financial Services (UIBFS)coreGTM or Marketing Partner · 2 February 2023Partnership for the Savings Challenge initiative launched February 2, 2023. DPF participated in the savings challenge alongside UIBFS and Uganda Bankers Association to inspire and enable savings culture among Ugandans. The savings piggy bank rotated among Financial Sector Stability Forum members.
• Vision GroupcoreGTM or Marketing PartnerStrategic media partnership with Uganda's largest multimedia conglomerate (TV, radio, print, digital) to disseminate deposit insurance information nationwide. Vision Group's 35-year reputation and professional team provide ideal coverage and reach for DPF's public awareness goals.
• Nation Media Group (NMG) UgandacoreGTM or Marketing PartnerEngagement with NMG Uganda (Daily Monitor, NTV Uganda, KFM, Dembe FM) for media coverage and accurate reporting on deposit insurance. NMG platforms serve as key channels for DPF public awareness initiatives.
• Kenya Deposit Insurance Corporation (KDIC)coreStrategic or Co-development PartnerBenchmarking visit to DPF in August 2025 focusing on Uganda's legal framework for resolution of failed banks, stakeholder engagement strategies, public awareness initiatives, and prompt depositor compensation mechanisms. KDIC Board members conducted knowledge sharing on deposit insurance, resolution frameworks, governance, and risk management.
• International Association of Deposit Insurers (IADI)coreStrategic or Co-development PartnerGlobal organization dedicated to enhancing stability of international financial system by promoting effective deposit insurance systems. DPF CEO Dr. Julia Oyet serves as Chairperson of IADI Africa Regional Committee (ARC), which comprises 16 member jurisdictions and 8 associate members across Africa.
• Federal Deposit Insurance Corporation (FDIC)coreStrategic or Co-development PartnerCooperative agreement signed June 11, 2024 between DPF Uganda and FDIC. Agreement facilitates knowledge sharing and best practices exchange in deposit insurance, resolution, and financial stability.
• Nigeria Deposit Insurance Corporation (NDIC)coreStrategic or Co-development PartnerMoU signed between DPF and NDIC for cooperation in deposit insurance matters, knowledge sharing, and experience exchange. Both institutions work together under IADI Africa Regional Committee framework.
• Deposit Protection Corporation (DPC) ZimbabwecoreStrategic or Co-development PartnerMoU signed February 22, 2022 between DPF Uganda and DPC Zimbabwe for cooperation in deposit insurance. Facilitates peer learning and regional collaboration in deposit protection across Africa.
• Capital Markets Authority (CMA) UgandaminorGTM or Marketing PartnerDPF participated as sponsor at East African Capital Markets Conference 2025 organized by CMA and Uganda Securities Exchange. Dr. Julia Oyet delivered presentation on role of deposit protection in deepening financial inclusion.
• Insurance Regulatory Authority of Uganda (IRA)minorGTM or Marketing PartnerDPF participated as Silver Sponsor at 5th Annual Insurance Week 2026 organized by IRA. Event provided platform to reinforce awareness of DPF's mandate while celebrating excellence in financial sector.
• Financial Sector Stability Forum (FSSF)coreStrategic or Co-development PartnerDPF is member of the Financial Sector Stability Forum, collaborating with other sector players to promote joint public awareness campaigns aimed at strengthening financial sector stability and inclusion in Uganda.

Scale indicators7 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• Rwanda Deposit Guarantee Fund: Deposit guarantee scheme administered under the National Bank of Rwanda covering Rwandan deposit-taking institutions; regional peer in East Africa with comparable coverage-based mandate.
• Kenya Deposit Insurance Corporation (KDIC): Statutory deposit insurer in Kenya covering licensed banks and deposit-taking institutions; most directly comparable to DPF given shared East African regulatory framework and active MoU-based knowledge exchange (KDIC conducted benchmarking visit to DPF in August 2025).
• Nigeria Deposit Insurance Corporation (NDIC): Federal deposit insurer covering Nigerian banks with similar statutory mandate and premium-based funding model; signed MoU with DPF under IADI ARC framework and shares co-development and learning protocols.
• Ghana Deposit Protection Corporation: Statutory deposit protection agency for Ghanaian banks under the Ghana Deposit Protection Corporation Act; comparable African peer operating premium-funded deposit insurance scheme.
• Tanzania Deposit Insurance Board (DIBT): Statutory deposit insurer for Tanzanian banks under the Banking and Financial Institutions Act; regional peer serving a comparable East African market with similar statutory mandate and Bank-of-Tanzania-supervised membership base.
• Deposit Protection Corporation of Zimbabwe: Statutory deposit protection agency in Zimbabwe established under the Deposit Protection Corporation Act; DPF and DPC signed cooperation MoU in February 2022 for peer learning across Africa.

Broad incumbents

• Federal Deposit Insurance Corporation (FDIC): U.S. federal deposit insurer serving as the global benchmark for deposit insurance; DPF signed cooperative agreement with FDIC in June 2024 for knowledge sharing, making it a senior institutional peer and de facto standard setter.

Others

• Bank of Uganda: Central bank of Uganda and DPF's primary supervisory counterparty; DPF was historically managed by BoU before 2016 autonomy. BoU closes failing institutions and triggers DPF payouts, making it the closest upstream regulatory peer in the value chain.
• International Association of Deposit Insurers (IADI): Global standard-setting body for deposit insurance systems; DPF CEO chairs its Africa Regional Committee. While not a peer in the operational sense, IADI is the institutional counterpart that defines DPF's policy and operational benchmarks.

Emerging players

• Corporation for the Insurance of Deposits and Financial Resolution (Russia): State corporation providing household deposit insurance for Russian banks; broader incumbent with comparable state-backed deposit insurance function though covering a different geography and operating regime.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/DPFUganda
• YouTubeyoutube.com/@depositprotectionfundofuganda
• Facebookfacebook.com/dpfuganda
• LinkedInlinkedin.com/company/deposit-protection-fund-of-uganda-dpf

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Funding overview

Funding rounds

Investors

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M&A

Investments

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Frequently asked questions about Deposit Protection Fund of Uganda