Bureau to open up credit card access

Nov 28, 2003

A new credit bureau aiming to make Ugandans more ‘bankable’ has been launched in Kampala.

By Mikaili Ssepuya
A new credit bureau aiming to make Ugandans more ‘bankable’ has been launched in Kampala.

Located on Bandali Rise , in Bugolobi aNET Uganda will help banks provide loans to responsible people who do not have land to offer as security as well as making it easier for credit cards like VISA and MasterCard to operate here.

“We want to make Ugandans more ‘bankable’. There are many people who have worked for dozens of years with traceable records, who need loans but have no traditional security in the form of houses or land.

“We provide the information to lending banks to enable them decide on their ability to service appropriate loans,” said Colin James, Managing Director, aNET East African operations.

He explained that there has not been use of Credit Cards like VISA in most African countries because those companies only operate in countries with Credit bureaux like aNET, so their operations would increase the chances of their usage here.

James also said that they would provide the banks with information on loan performance with other banks to avoid ‘loan switching’ and identify potentially low, moderate and high-risk individuals from their past performances.

Credit managers from various commercial banks and credit institutions attended aNET’s 5day seminar which started on Thursday.
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