I&M Bank Uganda hosted Small and Medium-sized Enterprises (SME) customers to a breakfast meeting, to discuss the potential of growing the sector through improved financial literacy.
The event, held at Kampala Serena Hotel, also marked the launch of the “Tukikube ne I&M Bank” campaign, an initiative aimed at addressing the financial literacy gap that many SMEs face.
Through this campaign, the bank seeks to empower SMEs with essential knowledge, tools, and tailored offerings to make informed financial decisions and grow sustainably. This will be done through a recorded podcast series that will be aired on the I&M Bank Youtube channel, and will feature stories of SMEs that have succeeded in their enterprises, with the support of I&M Bank.
As part of the campaign, I&M Bank announced a partnership with Victoria Motors Limited, to offer asset financing that will enable customers purchase brand-new pickup trucks, with a monthly payment of only Shs 3.2 million. Terms and conditions apply.
This initiative is part of the I&M Bank’s broader commitment to supporting SMEs, agribusinesses, and individual entrepreneurs, who require reliable transportation for their operations.
According to I&M Bank CEO- Robin Bairstow, the pickup truck is a testament towards the bank’s new asset finance offering.
Bairstow added that, “I&M Bank is further strengthening its commitment to SMEs by offering convenient and affordable solutions, such as reduced interest rates of up to 18% on loans over 12 months, as well as a window for clients to transfer existing loans to I&M Bank without any arrangement fees.”
Emmanuel Muyunga, the Deputy General Manager of Victoria Motors, said the pickup truck is robust and serves a dual purpose. “It’s the kind of vehicle that can take you to the garden, the funeral, and even church. It is ideal for business owners,” he said.
Edward Gibson Nangono, the I&M Bank Chief Business Officer, highlighted that through the Tukikube ne I&M Bank campaign, I&M Bank seeks to address the widespread challenge of SMEs not making it past their first anniversary.
“Part of the campaign is market storms. We understand that partnership means showing up. We’ll be where you are, listening to your challenges, and working with you and your stakeholders to co-create solutions for your businesses,” Nangono stated.
Annette Nakiyaga, the bank’s Head of Marketing and Corporate Communications, noted that many small businesses have scaled with the bank’s support.
“Supporting SMEs is not just about individual business growth; it’s about fostering economic resilience and job creation in our country. By empowering businesses, we contribute to stronger communities and a more vibrant economy,” Nakiyaga said.
The launch climaxed with an interactive session that saw customers and the bank staff engage about the bank’s products, services, and feedback.
The Tukikue ne I&M Bank campaign will run for a period on one year.
