Premier Credit Uganda acquires Shs8b funding to boost small-scale lending  

Premier Credit Uganda has acquired Shs8 billion in funding from Oikocredit, an international funder, to extend lending to individual and small scale businesses across the country.

Premier Credit Uganda said the partnership that was signed last week and will help the company achieve it’s to empower micro and small businesses across Uganda by providing them with affordable funding solutions.

“The fund will enable Premier Credit Uganda to extend its lending capabilities to micro and small businesses in Uganda, particularly in the general trade, agriculture, and transport sectors,” the statement read in part.

Adding: “…Will play a vital role in fostering economic growth, job creation, and income generation within the communities served by Premier Credit Uganda.”

The company further noted that the goal of the partnership between the two companies is to ensure sustained support for micro and small businesses across the nation.

“This commitment reflects the shared vision of both organizations in empowering local entrepreneurs and promoting financial inclusion,” it noted.

In the same statement, Mr Curtis Musembi, Oikocredit’s Investment Manager for East and Southern Africa, expressed enthusiasm about this strategic collaboration, emphasizing that the partnership will enable greater outreach to micro and small businesses in Uganda.

“We are delighted about this partnership, which is anchored on enabling greater outreach to micro and small businesses in Uganda [as well as] paving the way for job creation and income growth,” Mr Musembi said.

On behalf of  Premier Credit Uganda, the Chief Executive Officer, Mr Sammy Kandie, welcomed the support from Oikocredit saying that;  “the infusion of capital will strengthen our capacity to serve the diverse needs of micro and small businesses in Uganda.”

Adding that the funds will be allocated responsibly, to ensure that they have a meaningful impact on the businesses and communities served by the company.

“We pledge to continue growing and also remains committed to providing financial solutions that empower entrepreneurs, stimulate economic growth, and enhance livelihoods across Uganda.” he said

Oikocredit  is a worldwide company that partners with organizations around the world to support inclusive and sustainable development through providing funding to microfinance, agriculture, renewable energy, and fair-trade sectors with a mission to promote global justice by empowering disadvantaged communities.