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UBA Announces 250m USD Credit package for SMEs

24 May, 2024
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United Bank of Africa (UBA) has announced a 250m USD credit package aimed at supporting small and medium term enterprises (SMEs) in Uganda.




The announcement was made at an event to commemorate the Africa Day. Africa Day marked every 25th May celebrates the day when the Organization of African Unity (OAU), the precursor to the African Union (AU), was formed in 1963.

UBA Uganda’s Managing Director Chioma Mang while presiding over an event to commemorate the Africa Day at the Bank’s branch in Mbale City, said they had secured 6bn USD to support SMEs in Africa. Of this, 250m USD will be sunk into SMEs in Uganda.

According to Chioma, there is need to celebrate Africa’s potential in terms of diversity and its rich natural resources by economically empowering the different countries through small and medium enterprises.

Hoziana Niyonsaba Ssemanda the UBA Head Marketing and Corporate Communication says there is need for the Bank to commemorate Africa Day so as to highlight the abilities of the African people right from the time they attained independence.

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