KAMPALA – Diamond Trust Bank – DTB Uganda city traders under their umbrella association, the Kampala City Traders Association (KACITA) – Uganda have signed a partnership to boost traders’ business and entrench the sustainability agenda among traders and key stakeholders across the country.
The partnership was announced at the signing of a Memorandum of Understanding by the leadership of DTB Uganda and KACITA board members at KACITA Head offices on Thursday, December 7.
Mr. Varghese Thambi, the DTB Uganda CEO said the partnership will key among others empower traders and communities where KACITA operates with tailor-made financial and banking packages.
He told reporters that partnership also brings to attention Women in Business and youth who will receive preferential treatment and offers on banking services.
“Many times our key business players don’t receive the right support for the growth and sustainability of their businesses. Key among these players are women and youth. Under this partnership, we shall tailor our offering to answer the needs of their businesses.”
Mr. Thadeus Musoke, KACITA Chairman said that up to 65% of the businesses are run by women, and these women-led businesses have proven to be the most resilient over the years. Traders in Uganda have faced gross post-COVID-19 effects leaving many traders in distress.
“We are glad that DTB is identifying us as a partner and a focus on women traders is very important. We are sure that women businesses if well supported will multiply and be very pivotal in national growth,” says Mr. Thadeus Musoke.
Under this arrangement, DTB will facilitate best business, management, and financial practices through training in addition to offering preferential product offers to traders.
In the space of sustainability, DTB will introduce the concept of ESG (Environment, Sustainability and Governance) to the business community. Stakeholders under KACITA Uganda and DTB will drive discussions on energy efficiency, reduction of carbon emissions and other areas of sustainable development as highlighted by the UN Social Development Goals.
At the same development, DTB announced support to KACITA – Uganda members by offering support to the establishment of the KACITA Village. Under the arrangement, DTB will work with property developers to provide land for the KACITA Village. Members of KACITA will be financed by DTB to acquire land on the KACITA Village estate.
