By Our Reporter
Micro, Small and Medium Enterprises (SMEs) in Uganda are set to benefit as dfcu Bank launches a brand-new offering aimed at giving them an opportunity to enjoy banking while operating an account that speaks to their business needs at their convenience.
Named ‘Sukuma Business ne dfcu’, the bank is calling upon SMEs to open Personal Current and Enterprise Current Accounts and enjoy several benefits such as no Charges on UGX Deposits, dedicated Business Bankers, reduced fees on monthly and transfer charges, access to friendly and fast loans (TODs) as well as 24/7 access to their business accounts through Smart ATMs, Quick Banking and Agent Banking.
According to Ronald Kasasa, Head Business Banking, dfcu Bank has been at the forefront of transforming businesses in Uganda by providing affordable and flexible financing solutions.
“Whether you are operating a business in Uganda as an individual or Company, we have designed a product that is very affordable for the common man; offering convenient banking while improving your business experience. Currently, 9 million entrepreneurs run the SME segment across Uganda; dfcu is committed to ensuring that we give them an opportunity to strive and succeed. ‘Sukuma Business ne dfcu’ is that opportunity,” he said.
According to the Uganda Investment Authority, SMEs are Uganda’s engine of growth, spread across all sectors with 49 per cent in service sector, 33 per cent in commerce and trade while 10 per cent are in manufacturing. They remain the key drivers in fostering innovation, wealth creation and job creation in Uganda and yet they continue to face challenges among which low access to capital.
Through the ‘Sukuma Business ne dfcu’ offering, customers with Personal Current or Enterprise Current accounts will be able to make quick payments, transfers and keep an audit trail for quick assessments on credit facilities.
The dfcu Personal Current Account is a great choice for a client whose transactions are typically business-like. It is designed to help them make the most of their money by making sure it is readily available whenever they need it and is available in multiple currencies with an opening deposit of UGX 50,000, USD 100, GBP 100 or EUR 100.
The dfcu Enterprise Current Account offers benefits specifically for medium and large entities wanting to grow their business while receiving access to financial solutions that meet specific business needs. It is available in currencies of UGX and USD and requires an opening deposit of only UGX 100,000 or USD 100.
Both accounts have no minimum amount and no account management fees.