KCB Bank Uganda recently kicked of a campaign to deepen financial literacy by taking more than 40 small and medium enterprises in Mbale through the intricacies of running a business.
The training is part of a countrywide drive that will see at least 340 SMEs being empowered with business management skills and information. The financial training campaign will be held in the areas of Lira, Gulu, Arua, Jinja, Hoima, Fort Portal and Mbarara.
"This training is timely in addressing one of the needs of the small business owners, money management; a normally neglected part of managing a business in favour of practical skills," said Eunice Wekesa, the national chairperson, Uganda Small Scale Industries Association (USSIA), who organized the training.
KCB, in a statement, said that its foundation has over the past five years invested more than Shs one billion in communities in the areas of health, education, humanitarian support and enterprise development.
Emmanuel Njuki, the brand and communications manager, said that Shs 82m will be invested by KCB this year in facilitating enterprise growth.
"As a bank we are appreciative of the benefits of financial literacy. As a result we invest 40 per cent of our Foundation budget each year to promote business growth," he said.
KCB group invests at least one per cent of its profits each year to invest in mainly communities where it operates.