• Latest
UDB Launches new Strategy to allow Youths, Women, SMEs Access to Financial Credit

UDB Launches new Strategy to allow Youths, Women, SMEs Access to Financial Credit

4 years ago
Museveni Pledges $500bn Economic Leap, Rejects Politics of Age and Careerism

Museveni Pledges $500bn Economic Leap, Rejects Politics of Age and Careerism

10 hours ago
Museveni Duly Nominated as Sole Candidate for NRM Chairman and 2026 Flagbearer

Museveni Duly Nominated as Sole Candidate for NRM Chairman and 2026 Flagbearer

12 hours ago
Magogo Re-Elected FUFA President, Sets Bold Agenda for 2025–2029 Term

Magogo Re-Elected FUFA President, Sets Bold Agenda for 2025–2029 Term

12 hours ago
Pictorial: Vibe, Dance and Fanfare as Museveni Arrives for NRM Nomination

Pictorial: Vibe, Dance and Fanfare as Museveni Arrives for NRM Nomination

12 hours ago
TikTok Tops Traffic: A Snapshot of Uganda’s Social Media and Streaming Platform Usage

TikTok Tops Traffic: A Snapshot of Uganda’s Social Media and Streaming Platform Usage

1 day ago
Among Faces Kadaga as Key Contenders Vie for NRM Entrepreneurs League Vice Chair

Among Faces Kadaga as Key Contenders Vie for NRM Entrepreneurs League Vice Chair

1 day ago
SoftPower News
Sunday, July 6, 2025
  • News
  • Tourism & Travel
  • Business
  • Lifestyle
    • Fashion
  • Regional
    • Kenya
    • Rwanda
    • Tanzania
    • Burundi
    • South Sudan
    • DR Congo
  • Defence & Security
  • Sport
  • Entertainment
  • More
    • Agriculture
    • Africa
    • Columnists
    • Education
    • Health
      • COVID-19
    • International News
    • News in Pictures
    • OpEd
    • Pearl Of Africa
    • People
    • Politics
    • Special Reports
    • Women
No Result
View All Result
  • News
  • Tourism & Travel
  • Business
  • Lifestyle
    • Fashion
  • Regional
    • Kenya
    • Rwanda
    • Tanzania
    • Burundi
    • South Sudan
    • DR Congo
  • Defence & Security
  • Sport
  • Entertainment
  • More
    • Agriculture
    • Africa
    • Columnists
    • Education
    • Health
      • COVID-19
    • International News
    • News in Pictures
    • OpEd
    • Pearl Of Africa
    • People
    • Politics
    • Special Reports
    • Women
No Result
View All Result
SoftPower News
No Result
View All Result
Home News

UDB Launches new Strategy to allow Youths, Women, SMEs Access to Financial Credit

by Nixon Segawa
December 15, 2021
UDB Launches new Strategy to allow Youths, Women, SMEs Access to Financial Credit
0
VIEWS

The Uganda Development Bank Ltd (UDBL), the country’s national Development Finance Institution, has announced offers exclusive to the institution aimed at holistically addressing the growth of the Youth, Women and SMEs.

Complementary to its specialized credit offering to these segments, will be the Business Accelerator program that aims to assist enterprises to formalize as well as professionalize their operations thereby ensuring sustainable businesses.

Related Stories

Building Industry Resilience in Emerging Markets Through Development Finance

UDB Grows to Shs1.78Trn in Assets, Posts Shs57.8bn Profit & Creates 55,553 Jobs

UDB Gets Shs1Trillion Boost to Power Industrialisation, Jobs & SME Growth

The offerings which are representative of the heart of growth, job creation and entrepreneurship in the country include the Kazi SME Loans, Youth Step-Up Loans and the Women Prosper Loans.

The Bank’s BASE (Business Accelerator for Successful Enterprises) looks at addressing the demand side challenges of access to credit faced by the three segments.

“These offerings re-affirm our position as a Bank for the sustainable and socio-economic development of Uganda. Our aim is to offer a definitive end-to-end solution for the growth and sustainability of business in the Youth, SME and Women-led business segments, which are the new engines of development in Uganda especially during this time when the country is looking towards the much-needed economic recovery,” said Patricia Ojangole, the Managing Director of UDB.

Ojangole said that in order to address some of the critical constraints to access to credit, the Bank will implement more accommodative arrangements on cost of credit, collateral requirements, equity contributions, simplified loan processing and requirements among others.

Ojangole explained that to ensure scaling up of entrepreneurship and sustainability of the businesses, all qualifying businesses will benefit from UDB’s tailored offer that provides advisory services, now referred to as BASE.

On flexible collateral arrangements for example, land agreements can be used. The use of land agreements, the Bank explained, is to make the offer accessible to majority of Ugandans for whom land is the most available security.

“In practice for example UDB will rely on a simple agreement such as a sales agreement or even advance loans on customary title while helping an applicant process the land by surveying and titling the land,” Ojangole noted.

SMEs, Women and Youth were identified in the Bank’s strategy as cross cutting issues in the sectors served by the Bank. Those that will therefore benefit are those doing business in the sectors supported by UDB to include Hospitality, Tourism, Human Capital Development, Agriculture and Manufacturing.

The youth in Uganda form 77 per cent of Uganda’s population however 70 per cent of the segment is unemployed while 65 per cent of persons engaged in business are women. Yet, 90 per cent of the private sector is small businesses which contribute over 80 per cent of manufactured products and 75 per cent of Gross Domestic Product.

“The statistics above are an exhibition that these segments are pivotal for the country’s development, and they lie at the core of UDB’s purpose of improving the quality of life of Ugandans,” Ms Ojangole said.

UDB plans to roll out the program in all the regions of the country as part of an expansion plan of the Bank’s presence.

Tags: Patricia OjangoleSMEsUDBUganda Development Bank

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *


The reCAPTCHA verification period has expired. Please reload the page.

Recent Stories

Museveni Pledges $500bn Economic Leap, Rejects Politics of Age and Careerism

Museveni Duly Nominated as Sole Candidate for NRM Chairman and 2026 Flagbearer

Magogo Re-Elected FUFA President, Sets Bold Agenda for 2025–2029 Term

Pictorial: Vibe, Dance and Fanfare as Museveni Arrives for NRM Nomination

TikTok Tops Traffic: A Snapshot of Uganda’s Social Media and Streaming Platform Usage

Among Faces Kadaga as Key Contenders Vie for NRM Entrepreneurs League Vice Chair

Stanbic Bank Ad
SoftPower News Logo

SoftPower News is a subsidiary of SoftPower Communications LLC, a Ugandan digital media group. Keep posted of the latest from Uganda and East Africa.
Plot 4B Malcolm X, Kololo
P.O Box 1497, Kampala - Uganda
Tel: +256-392-001-701
Email: info@softpower.ug

This news site is licenced by Uganda Communications Commission (UCC)

ADVERTISEMENT
Stanbic Remittance Ad
  • News
  • Tourism & Travel
  • Business
  • Lifestyle
  • Regional
  • Defence & Security
  • Sport
  • Entertainment
  • More

© SoftPower News

error: Content is protected
No Result
View All Result
  • News
  • Tourism & Travel
  • Business
  • Lifestyle
    • Fashion
  • Regional
    • Kenya
    • Rwanda
    • Tanzania
    • Burundi
    • South Sudan
    • DR Congo
  • Defence & Security
  • Sport
  • Entertainment
  • More
    • Agriculture
    • Africa
    • Columnists
    • Education
    • Health
      • COVID-19
    • International News
    • News in Pictures
    • OpEd
    • Pearl Of Africa
    • People
    • Politics
    • Special Reports
    • Women

© SoftPower News