The Independent Uganda: You get the Truth we Pay the Price
Kampala, Uganda | JULIUS BUSINGE | French Development Finance Institution, Proparco has arranged a US$30m senior debt facility to support dfcu bank in bridging the long-term financing gap for small businesses.
Proparco extended financing of US$15m alongside US$15m from FMO (the Dutch Development Bank) to dfcu.
The facility is primarily earmarked for financing small and medium-size businesses in line with the bank’s SME-oriented strategy.
Proparco’s head of financial institutions in Africa, Emmanuel Haye said on Dec.14 that they are pleased to once again partner with dfcu Bank in extending financial services to the SMEs.
He added that the new credit line reflects the commitment of both institutions to support an inclusive and sustainable growth in Uganda.
This line of credit builds on the long-term relationship between FMO, Proparco and dfcu Bank which spans two decades since 1999.
Over the two decades, the partnership has extended more than US$170m to the bank which is equivalent to Shs639bn.
The facilities have been used to finance various SMEs in sectors including education, health, manufacturing, agriculture, transport, construction, hotel and tourism.
The new funding (US$30m) will go towards financing SMEs in similar sectors with emphasis on businesses with foreign currency earnings potential, with the aim of boosting the country’s export earnings.
Mathias Katamba, the incoming CEO of dfcu said the operations of SMEs occupy an admirable position in Uganda’s economic landscape.
He said despite being a key driver of economic growth, long term development finance remains a huge challenge.
“This line of credit will facilitate dfcu in providing a range of financing instruments to SMEs in order to enable them to continue to play their role in growth, innovation and employment,” he said.
He added that the facility would further strengthen the bank’s capacity to grow its business and subsequently consolidate its position as one of the leading provider of long term development finance.
Loan for buy 30TPD -50TPD New Maize mill from China.
FOB $ 325000 ,$148000 and $126000 . This cost include engineering and installation and Visas ,return tickets. This exclusive URA Taxes.
Plus other cost, buildings trucks and Pre- Crop Finance.
This mill project is to be Bulambuli District. To buy crops from kapchorwa and other district kween etc.