Diamond Trust Bank and the Kampala City Traders’ Association (KACITA) have entered a partnership aimed at boosting small businesses and entrenching Environmental, Social and Governance (ESG) principles in the country. DTB Uganda CEO Varghese Thambi singed the MoU with the KACITA board in Kampala recently. Under the partnership, DTB will particularly endeavour to provide preferential banking and financial services to youth and women-led businesses, which Thambi said would boost their growth into big enterprises. “Many times, our key business players don’t receive the right support for the growth and sustainability of their businesses. Key among these players are women and youth. Under this partnership, we shall tailor our offering to answer the needs of their businesses” said Thambi. The officials said the initiative is not only structured for those involved businesses but will also contribute to the broader goals of responsible and ethical business conduct in the region, reflecting a holistic commitment to sustainable and inclusive economic development. KACITA Chairman Thadeus Musoke said 65% of the women-led businesses in KACITA have proven to be resilient compared to those operated by men. “We are glad that DTB is identifying us as a partner and a focus on women traders is very important. We are sure that women businesses, if well supported, will multiply and be very pivotal in national growth” he added. As part of the deal, DTB will also introduce ESG principles to the KACITA business community, focusing on reducing carbon emissions and promoting energy efficiency in line with the UN Sustainability Development Goals (SDGs) by integrating them into the daily operations of KACITA members. Additionally, the bank will collaborate with property developers to facilitate the provision of land to KACITA members to build houses in a new estate to be established in Wakiso District. Members of KACITA will secure mortgage loans of up to UGX20 million from DTB to acquire plots in the KACITA Village estate.
