AGF has partnered with Uganda Development Bank (UDB) to increase lending to Small and Medium Enterprises (SMEs), businesses linked to women and youth, and environmentally sustainable projects. 

The Group CEO of AGF headed a delegation on courtesy visits to major banks in Uganda, which included centenary bank, stanbic bank, Cairo Bank, and equity bank uganda.

The SME sector in Uganda is a vital component of the country’s economy, contributing significantly to the GDP and acting as a key driver of economic development. 

Comprising about 90% of the private sector, SMEs are directly linked to over 80% of manufactured output and generate more than 75% of the GDP. 

These enterprises are present across various sectors, with a substantial presence in services, commerce, trade, and manufacturing. 

Additionally, SMEs in Uganda play a significant role in employment, providing jobs for over 2.5 million people.

The SME sector in Uganda is a key driver of economic growth and development, contributing significantly to the GDP and serving as a major source of non-farm employment.

Its substantial impact underscores its role in fostering innovation, wealth creation, and economic resilience.

The high percentage of SMEs in the private sector and their significant contribution to the GDP highlight their crucial role in shaping Uganda’s economic landscape.

AGF has been pivotal in supporting SMEs, especially those led by women and youth, by providing guarantee products through initiatives like the Guarantee for Growth program.

These products boost financial institutions’ confidence in lending to SMEs, unlocking significant funding for the sector. 

The organization’s interventions extend across various sectors, aligning with the Sustainable Development Goals, including agriculture, water and sanitation, and innovation.

The organization offers specialized facilities, such as the green guarantee for low-carbon businesses, and supports women-led businesses through programs like AFAWA Guarantee for Growth. 

AGF’s support enhances the value propositions of financial institutions, fostering SME growth and financial inclusion, particularly in sectors like agriculture, manufacturing, and tourism.

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Guarantee products serve to reduce risks for banks by offering an extra layer of security and confidence to lenders. 

This assurance facilitates businesses in securing financing, expanding their operations, and participating in international trade with confidence.

AGF’s offerings, like the Loan Portfolio Guarantee, enable financial institutions to lend to SMEs with certainty, unlocking substantial funding for this sector.

They provide capacity development support to both Partner Lending Institutions (PLIs) and SMEs, enhancing technical capabilities. This includes helping SMEs present finances to banks and organize information effectively.

AGF’s interventions, including guarantee products and capacity development initiatives, have the potential to generate significant economic benefits for Uganda.

For easier communication you can also use the centenary bank whatsapp number; 0744 200 555.

As of the most recent information, centenary bank exchange rates for the US Dollar is UGX 3,590 per dollar at all its branches nationwide.

To initiate the centenary bank account opening, download the CenteMobile app, choose Cente On the Go, indicate if you are a new or existing customer, select the account type, currency, and branch. 

Provide clear images of your national ID and a passport-size photo, create and scan a legible signature, then complete the online form. 

Click Submit, enter the one-time password received via email or SMS, and finalize the submission.

Stanbic Bank’s document dated February 1, 2024, outlines the exchange rates for transactions under $5,000 or equivalent in other currencies.

The rates include buying at 160.00 and selling at 165.00 for the U.S. Dollar, buying at 171.65 and selling at 179.92 for the Euro, and buying at 201.57 for the Sterling Pound.

This is the equity bank uganda swift code; EQBLUGKA which you can use for overseas transcations. For any enquiries contact Equity Bank Uganda by calling +256 312 327 000 or emailing info@equitybank.co.ug.