Bank of Africa launches SME business finance scheme

By Kiyimba Bruno

Kiyimba.bruno@gmail.com

Today bank of Africa has launched a new business scheme dubbed Small and Medium-sized Enterprise (SME) business finance scheme amidst of various clients from all over the country.

Unsecured invoice and discounting, business finance loan, unsecured bid guarantee as well as asset loans are some of the new brands that were unveiled today at hotel Africana for the SME finance scheme.

Speaking to the people on a function that was massively attended, the Executive Director for  Bank Of Africa Mr. Bernard R. Magulu said that SME business luck a component of financial literacy which his bank has tried to fight.

“It’s not in our interest to sell security. We want to build the nation on a strong brand” Magulu reaffirmed

He added that banks can not develop their clients without open communication.

“We the bosses of Bank of Africa move door to door to see how our clients are doing business in what I can term as open door communication.” Said Magulu.

The General Manager Business Development Mr. Claver B. Serumaga says that the bank has introduced these bands to help its clients have a simpler method of banking.

“Currently parents no longer need to pay their school fees using bank slips. All you need is to go direct to the counter and pay your fees and then they give you a receipt.” said Serumaga.

It is on this note that he called upon all parents to advise the teachers of their children to bank with Bank of Africa to help them not live longer in the bank lines.

Bank of Africa has gone ahead to reduce on the number of documentation and necessities that are needed to get a loan of less than UGX200, 000.

In this loan scheme, the clients shall benefit access to bid guarantee without security, fast guarantee response within 48 hours as well as affordable charges.