|
Uganda: Bank of Africa Targeting Women
Real estate news By Ricks Kayizzi
12 November 2007
BANK of Africa has launched a loan facility for women. Dubbed Super Kikapu, the facility provides up to sh100m in loans to professionally-run, women-initiated businesses. "Research has shown that although women are better when it comes to running of businesses and repayment of loans, they are most times sidelined because they lack collateral," Kwame Ahadzi, the bank's managing director, said during the launch at Hotel Africana in Kampala.
He said the beneficiaries do not need a land title, car logbook or collateral. "They only need to have been in business for at least three months and have a record of keeping books of accounts. They do not need to have accounts with us."
Stevens Mwanje, the bank's head of the commercial division, said they had discovered that 60% of Ugandans are not engaged in formal transactions. "This means that the real opportunity for growth in banking in this community exists among people in the informal sector, which is made up mostly of women," Mwanje said, adding that the best collateral in Uganda today is mortgage, which benefits only individuals who own property.
Send tips or a Letter to the Editor to editor@updatere.com
|
