Small and medium-sized enterprises (SMEs) in Uganda are set to access expanded financial and business support services following the launch of NCBA Bank Uganda’s new Business Banking proposition dubbed “Ku NCBA Kiggwa Ku Bwerere.”
The initiative is designed to improve access to financing, provide practical business development support and strengthen digital banking services for entrepreneurs seeking to grow their businesses.
Speaking during the launch in Kampala, NCBA Bank Uganda Chief Executive Officer Mark Muyobo said SMEs remain central to Uganda’s economy but continue to face challenges, including limited access to capital, cash flow constraints and the need for digital transformation.
"Small and medium-sized enterprises account for over 70 per cent of Uganda's private sector activity, yet many continue to face challenges including limited access to finance, cash flow constraints, and the need for digital transformation," Muyobo said.
"Through our new Business Banking proposition, we are providing businesses with the financial solutions, expertise and partnerships they need to grow with confidence," he added.
Under the new proposition, business owners will have access to financing options tailored to different enterprise needs, including unsecured invoice discounting of up to Shs500 million, unsecured Local Purchase Order (LPO) financing of up to Shs180 million and unsecured business loans of up to Shs200 million.
The package also includes education financing of up to Shs500 million and asset financing covering up to 90 per cent of an invoice value.
To make the services more accessible, NCBA Bank said customers will enjoy zero transaction fees and no loan arrangement charges during the first six months. The bank also committed to providing credit decisions within 48 hours.
Beyond financing, NCBA has partnered with MAT Abacus to provide SME customers with a complimentary Enterprise Development Programme aimed at equipping entrepreneurs with skills in financial management, governance, tax compliance, business planning, succession planning and sustainable growth.
The bank also showcased its digital platforms, NCBA Now and NCBA ConnectPlus, which allow business owners to manage accounts, make payments, monitor cash flow and approve transactions remotely.
Kampala City Traders Association (KACITA) Chief Executive Officer Abel Mwesigye welcomed the initiative, saying partnerships between financial institutions and the business community are important for strengthening Uganda’s private sector.
"The growth of Uganda's private sector depends on strong partnerships and financial institutions that understand the realities of doing business. NCBA's Business Banking proposition is a timely intervention that combines accessible financing, digital innovation and business development support to help SMEs scale sustainably," Mwesigye said.
NCBA Bank said the initiative forms part of broader efforts to strengthen Uganda’s entrepreneurial ecosystem by providing businesses with the financial tools, knowledge and support required to expand, create employment and contribute to community development.
The bank, which operates as part of NCBA Group, said it will continue supporting Ugandan enterprises involved in cross-border trade and regional expansion, enabling businesses to benefit from opportunities within the East African market.
