Orient Bank, MUBs award Shs 60 million to five entrepreneurs to grow their businesses

Orient Bank has awarded five winners of the ten week long Orient Business Academy Season 3 financial literacy programme with Shs 60 million to help them grow their businesses.

The Academy saw over 30 entrepreneurs who were taken through a ten week-long financial literacy program and thereafter tasked to come up with growth plans for their businesses.

The plans were reviewed and assessed by Orient Bank Business Analysts and tutors from the Makerere University Business School Entrepreneurship, Innovation and Incubation Centre out of which the 5 winners were selected.

Winners:

One Lamp Uganda limited, a dealer in the lease and sale of solar appliances to SMEs and households mainly in rural areas emerged the overall winner of the Orient Business Academy season 3 taking home Shs 20 million. The company sells appliances under a “lease to own model” where customers pay an initial deposit for the appliances and the balance is paid on a weekly basis via mobile money until the full amount is paid.

Label It Enterprises which deals in asset tags and labels, Blue Atlantiva Limited- a coffee processing company, Precision Africa limited- a construction company and Zabuys.com- an e-commerce platform each took home Shs 10 million.

While handing over the prizes to the winners, the Orient Bank Managing Director, Kumaran Pather emphasised Orient Bank’s commitment towards supporting entrepreneurs.

“We strongly believe in this initiative and pledge our commitment to supporting SMEs to grow and expand their operations and thus make a significant contribution to economic growth.”

In attendance was the Principal, Makerere University Business School, Prof. Waswa Balunywa who thanked the entrepreneurs for seeking training in business management skills from the Orient Business Academy.

“Success in a business requires a lot of commitment, having the right structures and skills for the business. I therefore applaud you for making the right decision to seek professional guidance in business management skills because this will enable you sustain your business through various conditions and I encourage you to continue seeking professional guidance,” he said.