dfcu Bank commits to supporting SMEs in new product offering

Uganda’s Small and Medium Enterprises (SMEs) in Uganda are set to benefit as dfcu Bank launches a brand-new product offering aimed at giving them an opportunity to enjoy banking while operating an account that speaks to their business needs at their convenience.

Under the ‘Sukuma Business ne dfcu’ offering, the bank is calling upon SMEs in all regions – Central, Metro, East, West and Northern Uganda – to open Personal Current and Enterprise Current Accounts and reap immense benefits such as no Charges on UGX Deposits, dedicated Business Bankers, reduced fees on monthly and transfer charges, access to friendly and fast loans (TODs) as well as 24/7 access to their business accounts through Smart ATMs, Quick Banking and Agent Banking.

Ronald Kasasa, dfcu Bank’s Head of Business Banking says dfcu has been at the forefront of transforming businesses in Uganda by providing affordable and flexible financing solutions.

 “Whether you are operating a business in Uganda as an individual or Company, we have designed a product that is very affordable for the common man; offering convenient banking while improving your business experience. Currently, 9 million entrepreneurs run the SME segment across Uganda; dfcu is committed to ensuring that we give them an opportunity to strive and succeed. ‘Sukuma Business ne dfcu’ is that opportunity,” he said.

According to the Uganda Investment Authority, SMEs are Uganda’s engine of growth, spread across all sectors with 49% in the service sector, 33% in commerce and trade while 10% are in manufacturing. These remain the key drivers in fostering innovation, wealth creation and job creation in Uganda and yet they continue to face challenges among which include low access to capital.

With this new initiative the ‘Sukuma Business ne dfcu’ offering, customers with Personal Current or Enterprise Current accounts will be able to make quick payments, transfers and keep an audit trail for quick assessments on credit facilities.

The dfcu Personal Current Account is a great choice for a client whose transactions are typically business-like. It is designed to help them make the most of their money by making sure it is readily available whenever they need it and is available in multiple currencies with an opening deposit of UGX 50,000, US$ 100, GBP 100 or EUR 100.

Whereas the dfcu Enterprise Current Account offers benefits specifically for medium and large entities wanting to grow their business while receiving access to financial solutions that meet specific business needs. It is available in currencies of UGX and US$ and requires an opening deposit of only UGX 100,000 or USD 100.

The two separate bank accounts from dfcu require no minimum cash amount deposit and neither do they attract any charges for account management fees.
In order to open an account and participate in the ‘Sukuma Business ne dfcu, customers are simply required to visit their nearest dfcu Bank Branch or contact their customer relationship manager.