Stanbic Bank Uganda launches US$100m Sacco fund to transform rural communities

UGANDA – Stanbic Bank Uganda Limited has launched a US$100 million savings and credit cooperative (Sacco) fund aimed at transforming the rural communities of Uganda. Under the new product, Saccos shall get unsecured loans of up to USh200 million (US$55,827) for first-time borrowers and USh400 million (US$111,655) for repeat borrowers with a satisfactory repayment history. General-purpose Saccos shall access the…

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