Diamond Trust Bank and the Kampala City Traders Association (KACITA) have entered a partnership that seeks to boost city traders' business and entrench the sustainability agenda across Uganda.
The partnership was announced last week at the signing of the Memorandum of Understanding by the DTB officials and KACITA board members.
Accordingly, the partnership aims at empowering traders and communities where KACITA operates with appropriate financial and banking services.
Furthermore, the partnership is to support women and youth in businesses, whereby they will be receiving preferential treatment and offers on DTB’s banking services.
Addressing journalists at KACITA head offices, Varghese Thambi, the DTB Uganda CEO said the package primarily aims to support women and youth in businesses with tailor-made financial packages.
“Many times our key business players don’t receive the right support for the growth and sustainability of their businesses. Key among these players are women and youth. Under this partnership, we shall tailor our offering to answer the needs of their businesses.” Thambi said on Thursday.
Thadeus Musoke, the KACITA chairman told journalists that 65% of the businesses are run by women.
He noted that women-led businesses have proven to be the most resilient over the years, and thanked DTB for recognising KACITA as a partner.
“We are glad that DTB is identifying us as a partner and a focus on women traders is very important. We are sure that women businesses if well supported will multiply and be pivotal in national growth,” Musoke said.
As part of this partnership, DTB will be facilitating best business, management and financial practices through training in addition to offering preferential product offers to traders.
In the space of sustainability, DTB will introduce the concept of ESG (Environment, Sustainability and Governance) to the business community.
Stakeholders under KACITA Uganda and DTB will drive discussions on energy efficiency, reduction of carbon emissions and other areas of sustainable development as highlighted by the UN Social Development Goals.
At the same development, DTB announced support to KACITA – Uganda members by offering support to the establishment of the KACITA Village. Under the arrangement, DTB will work with property developers to provide land for the KACITA Village. Members of KACITA will be financed by DTB to acquire land on the KACITA Village estate.