Stanbic bank unveils Wumula ka Stress campaign

In a bid to provide a hassle-free start of the year to customers with professional solutions, Stanbic Bank Uganda has unveiled a financial relief package campaign dubbed Wumula Ka stress that shall act as a platform to customers that need financial boosts in their businesses.

The Executive Director Stanbic Bank Uganda Emma Mugisha highlighted that the campaign shall provide 75 days of repayment holiday for customers who take new personal loans during the drive of 90 days of up to April 9, 2023.

Stanbic Bank Uganda has launched a campaign dubbed Wumula ka stress that shall run for four months in a move to drive over 123,000 customers that were affected in the Covid 19 Pandemic and forced a couple of them out of operation for nearly two years.

Speaking during the event, the Executive Director Stanbic Bank Uganda Emma Mugisha says this 90 day campaign shall see customers with financial instabilities thrive in the economy, with immediate loans that shall jumpstart their businesses back to life.

"To our customers who are also parents, we are saying, access a collateral free loan of upto 250 million repayable in 84 months and enjoy grace period of 75 days," Mugisha said.

Mugisha added that the campaign is designed for parents, schools and suppliers ahead of the start of the 2023 academic year.

The Head of Business Insurance at Stanbic Bank Dogo Singh says despite inflation taking on in different businesses, Interest remains very high and shall cater for different institutions including schools in the event of fire.

The Head of Card business at Stanbic Bank Uganda Paul Tamale implored the school owners to apply for the Stanbic Bank school comprehensive insurance that shall cover them from hazards like fires, floods and accidents.

At the start of the 2022 academic year stanbic bank revealed schools of shillings 1.5 billion worth of accrued unpaid interest loans, this after the covid 19 pandemic forced them out of operation for nearly two years.