Uganda Development Bank partners with NMG
The managing director of NMG-U, Mr Tony Glencross (left), and a delegation from Uganda Development Bank led by the director of credit, Mr Samuel Edem-Maitum (2nd left), Dennis Ochieng (2nd right) and Joshua Allan Mwesigwa, after a meeting at Monitor Publications offices in Namuwongo, Kampala, yesterday. PHOTO/JOHN BATANUDE
What you need to know:
- UDB is a finance institution owned by the government. It plays a role in delivering government’s National Development Plans. The bank finances projects in various sectors with key emphasis on primary agriculture, agro-industrialisation and manufacturing. These account for more than 80 per cent of the bank’s portfolio.
- The bank also provides targeted financing solutions to tourism, human capital development and infrastructure projects.
Uganda Development Bank (UDB) has entered a partnership with the Nation Media Group, Uganda, (NMG-U), in a bid to enhance its visibility and mandate.
A team of UDB’s top officials who paid a courtesy call to the Daily Monitor offices in Namuwongo, Kampala, yesterday, said majority of the people think the bank is like other commercial banks, which is not the position.
“Over the next few months, we intend to carry out a series of activities with our partners, most noteworthy of which is a training on development finance.
“We feel it would be a good intervention to equip our valued media partners and journalists get a better appreciation of what the bank does, how our interventions and mandate saliently differ from those of other financial institutions in the country,” Mr Samuel Edem-Maitum, the director of credit at UDB, said.
“In our bid to enhance UDB’s visibility and to create awareness about the business, we are planning to roll out a series of strategic communication activities for which we will work with media partners. We are happy to hear from you on proposed partnerships you consider to be of value to our stakeholders in line with the achievement of our development objectives,” he added.
Mr Edem-Maitum further said to achieve their aspirations, the bank is making significant strides, which he attributed partly to support from media partners such as NMG.
Mr Tony Glencross, the managing director of NMG-U and Mr Sam Barata, the general manager- commercial, NMG-U, welcomed the partnership.
“There are several aspects to the cooperation. Some elements entail working together on our existing products such as Top 100, Farm Clinics and Rising Woman while others will be developed together,” Mr Barata said.
Mr Barata said NMG-U’s platforms like Facebook and Twitter, would be crucial in promoting the visibility of the bank.
