DFCU boosts SMEs
Oct 13, 2006
DFCU Limited has received credit worth sh22b from the European Investment Bank to lend to Small and Medium Enterprises (SMEs).
By Peter Kaujju
DFCU Limited has received credit worth sh22b from the European Investment Bank to lend to Small and Medium Enterprises (SMEs).
Announcing the deal, Moses Kibirige, the executive director, said the facility would serve SMEs interested in expanding and growing their businesses through leasing over the next one year.
“The funds will finance eligible SMEs in agro-business, fishing, mining, construction, tourism, transport, education and health care,†Kibirige said.
He said the facility would target SMEs investing a minimum of sh25m in equipment with a payback period of two years or longer.
Kibirige said interest rates were commercial and based on the risk profile of borrowers.
“If the risk of lending to a particular person is higher, then the rate will also be higher,†Kibirige said.
. But I can assure the public that the money is available and affordable,†Kibirige said
DFCU Limited has received credit worth sh22b from the European Investment Bank to lend to Small and Medium Enterprises (SMEs).
Announcing the deal, Moses Kibirige, the executive director, said the facility would serve SMEs interested in expanding and growing their businesses through leasing over the next one year.
“The funds will finance eligible SMEs in agro-business, fishing, mining, construction, tourism, transport, education and health care,†Kibirige said.
He said the facility would target SMEs investing a minimum of sh25m in equipment with a payback period of two years or longer.
Kibirige said interest rates were commercial and based on the risk profile of borrowers.
“If the risk of lending to a particular person is higher, then the rate will also be higher,†Kibirige said.
. But I can assure the public that the money is available and affordable,†Kibirige said