Thursday 25 July 2019
dfcu Bank has today announced its continued sponsorship and support of the Uganda Top 100 mid-sized companies’ survey 2019 initiative that has been running for the last 3 years. The Top 100 survey is an initiative of KPMG and the Daily Monitor in partnership with other stakeholders dfcu Bank included.
The purpose of the Top 100 Survey is to identify Uganda’s fastest-growing medium-sized companies in order to showcase business excellence and highlight some of the country’s most successful entrepreneurship stories.
Speaking during the press conference at Sheraton Hotel Rwenzori Ball Room, dfcu Bank’s CEO Mathias Katamba said; “As dfcu Bank we are pleased to be part of the SME Top 100 initiative again, for the third year running. This initiative resonates with us because it brings to the forefront the outstanding achievements of some of Uganda’s most successful and dynamic companies and the people who have been instrumental in driving their growth”
This year’s SME Top 100 comes on the back of a positive trend in terms of Uganda’s economic growth; which is projected to grow by over 6%. The 2019 theme – “shaping the future business landscape” emphasises the significant contribution of SMEs in driving this growth. There is need to press on and build on exsisitng efforts to transform and to prepare for the future economy. This is against the backdrop of two key shifts in this coming decade: first, a rising technological disruption including digital technology; and two, an increasingly young population in Uganda (77% of the population is below the age of 30). These shifts will have a profound impact on the business environment.
He went ahead to reaffirm why this initiative is important and how dfcu Bank is in a good position to help SMEs.
“This program provides a platform for knowledge & skills-sharing as well as deliberation on innovative financial solutions. We have a diverse product portfolio that businesses can take advantage of for access to credit facilities without necessarily providing collateral (which is a challenge for many businesses). These include Short Term Loans, Overdrafts and Guarantees etc. The Bank also structures customers financing requirements around expected cash-flows, supported with written undertakings”.
Participating in this annual competition is critical to business process improvement that ultimately helps entities gain access to new sources of financing, enhance their business management skills and acquire new partners they need to move to the next level.