NCBA targets Uganda SMEs with faster loans

NCBA Bank Uganda has introduced a new business banking proposition designed to boost lending to small and medium-sized enterprises (SMEs). The initiative offers unsecured loans of up to Shs500 million, with credit decisions to be made within 48 hours. This move comes as the bank seeks to stimulate lending amid subdued demand for business credit.

Launched in Kampala on July 9, the "Ku NCBA Kiggwa Ku Bwerere" campaign combines unsecured lending with a six-month waiver on transaction charges and loan arrangement fees. It also integrates digital banking services and business advisory support. This comprehensive approach aims to attract entrepreneurs who are currently navigating tight financing conditions.

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SMEs account for over 70% 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. Through our new Business Banking proposition, we are providing businesses with financial solutions, expertise and partnerships they need to grow with confidence.

SMEs form the backbone of Uganda's private sector, accounting for over 70% of its activity. However, many continue to grapple with limited access to affordable credit, inconsistent cash flows, and the pressure to modernize their operations. Mark Muyobo, chief executive of NCBA Bank Uganda, highlighted these challenges, stating, "SMEs account for over 70% 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."

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You need digital tools, business training, market access and access to finance. Easier access to working capital is what this campaign is about. We’re removing barriers to growth. There will be zero loan arrangement fees for customers during this campaign because speed matters for business.

Muyobo emphasized the bank's commitment to empowering ambitions, noting, "Through our new Business Banking proposition, we are providing businesses with financial solutions, expertise and partnerships they need to grow with confidence." The initiative removes barriers to growth by offering easier access to working capital and waiving loan arrangement fees, recognizing the critical importance of speed in business.

Beyond credit, the bank's head of business banking, Bashir Kiiza, stated that the strategy includes advisory services and market access. "NCBA understands that businesses require more than lending. We are combining finance, advisory and market access because these are the solutions that speak to the needs of our customers. When businesses thrive, jobs are created and the economy prospers," Kiiza said. The bank has also partnered with MAT Abacus to offer an enterprise development program for SMEs, focusing on financial management and bookkeeping.

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NCBA understands that businesses require more than lending. We are combining finance, advisory and market access because these are the solutions that speak to the needs of our customers. When businesses thrive, jobs are created and the economy prospers.