Centenary targets more SMEs

Centenary targets more SMEs

After sealing a multibillion deal with a continental Fund, Centenary Bank is now eying facilitating more small and medium-sized enterprises (SMEs) to accelerate its pace of growth in the country, according to the company’s top executive.

Fabian Kasi, Managing Director of the country’s second-biggest bank revealed that securing the African Guarantee Fund Loan Agreement will fund SMEs in Uganda with credit worth USD 10 Million.

“As a bank, we are pleased to collaborate with AGF to provide affordable finance to SMEs in Uganda and believe this partnership will go a long way in improving the private sector and economy in general,” Kasi said at the siging in Kampala, adding, ” We gave SMEs more than UGX 160 Billion last year, we are aiming for more.”

The 5 year partnership aims to unlock financing intended to facilitate the promotion, growth and development of SMEs, “”SMEs are a key component of our economy and account for over 80% of the private sector.”

Eazzy Banking
Centenary MD Fabian Kasi and AGF’s Felix Bikpo after signing a deal with credit worth USD 10 Million at Mapera House in Kampala.

AGF Group CEO Felix Bikpo while commenting on the partnership signing said, “We are very proud to have partnered with a bank that has a vision for SMEs and believes in their potential to spur the growth of Uganda’s economy.”

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