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.
Tags
National Economic Empowerment Dialogue tasks the Bank of Uganda to tackle fraud in banks.
Popular and Recent News
Comment