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Bank of Africa tips SMEs

Arthur Isiko speaking at the Bank Of Africa business forum.

Kampala, Uganda | THE INDEPENDENT | Bank of Africa’s Managing Director, Arthur Isiko, has tipped Small and Medium Enterprises (SMEs) on access to finance as a key aspect for business growth. Isiko was speaking at a business forum hosted by the Bank at Tick Hotel in Kawempe, a Kampala suburb on April 11. This was the Bank’s first forum of this nature, with plans to host it in other parts of the country.

The forum is targeting SME businesses in construction, education, agriculture, trade and commerce. Isiko told participants to use financing options including debt and equity investments.

“Granting credit is only one of the services which banks provide to SMEs,” Isiko said, adding, “We as a bank should most importantly work with SMEs to ensure that they can access the appropriate form of financing.” SMEs in Uganda constitute about 90% of the private sector and employ more than 2.5 million people.

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