10 December 2012

Uganda: Chamber of Commerce to Boost Banking, Agri-Business in Northern Uganda

Uganda's National Chamber of Commerce and Industry (UNCCI) is set to boost banking services and agri-businesses in the new districts of northern Uganda according to an announcement made during the 34th Annual General Meeting of the UNCCI held on Dec. 7 in Kampala.

Olive Kigongo, the president and chairperson of the Board of UNCCI said they had signed a memorandum of understanding with Global Trust Bank and Agri-Profocus to provide the services in the districts.

The Global Trust Bank management noted in a statement that by January, the districts of Nwoya, Agago, Lamwo, Amuru and Kole will start benefitting from Global Trust Bank's services.

According to the bank, the driving force to operate in these remote districts has been their competitive advantage in dealing with SMEs since 25% of their clients are engaged in small and medium enterprises.

Slyvia Atukunda of the Agri- Profocus said they are working in partnership with the Dutch Embassy to offer subsidies to farmers in the respective districts to stimulate financial growth and employment opportunities.

In a bid to get around corruption tendencies like those reported in the OPM scandals, the Dutch Embassy in partnership with Agri-Profocus will deal directly with prospective farmers in the region.

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