KAMPALA – Orient Bank has awarded five winners of the ten week long Orient Business Academy Season 3 financial literacy programme with Ugx. 60 million to help them grow their businesses. The Academy saw over 30 entrepreneurs who were taken through a ten week-long financial literacy program and thereafter tasked to come up with growth plans for their businesses.
The plans were reviewed and assessed by Orient Bank Business Analysts and tutors from the Makerere University Business School Entrepreneurship, Innovation and Incubation Centre out of which the 5 winners were selected.
One Lamp Uganda limited, a dealer in the lease and sale of solar appliances to SMEs and households mainly in rural areas emerged the overall winner of the Orient Business Academy season 3 taking home Ugx 20 million. The company sells appliances under a “lease to own model” where customers pay an initial deposit for the appliances and the balance is paid on a weekly basis via mobile money until the full amount is paid.
Label It Enterprises which deals in asset tags and labels, Blue Atlantiva Limited- a coffee processing company, Precision Africa limited- a construction company and Zabuys.com- an e-commerce platform each took home Ugx 10 million.
While handing over the prizes to the winners, the Orient Bank Managing Director, Kumaran Pather emphasized Orient Bank’s commitment towards supporting entrepreneurs.
“We strongly believe in this initiative and pledge our commitment to supporting SMEs to grow and expand their operations and thus make a significant contribution to economic growth.”
In attendance was the Principal, Makerere University Business School, Prof. Waswa Balunywa who thanked the entrepreneurs for seeking training in business management skills from the Orient Business Academy.
“Success in a business requires a lot of commitment, having the right structures and skills for the business. I therefore applaud you for making the right decision to seek professional guidance in business management skills because this will enable you sustain your business through various conditions and I encourage you to continue seeking professional guidance.”
About Orient Business Academy
The Orient Business Academy was launched in 2016 as Orient Bank’s flagship Corporate Social Responsibility programme, which is focused on providing business management skills to micro and small enterprises to enable them grow and contribute to economic growth and employment. Through the Academy, Orient Bank has trained over 100 entrepreneurs and awarded the outstanding performers with funds to grow their businesses. This program is run in partnership with Makerere Business School – Entrepreneurship, Innovation and Incubation Centre (MUBS-EC). It involves five phases i.e. launch/call for entries, admission, trainings, business growth plans competition and awarding of winners.
About Orient Bank
Orient bank is one of the leading Private sector commercial bank in Uganda since 1993, serving a nice SME segment. Its steady growth over the last 27 years can be attributed to its professional management and prudent Lending and investment policy.