In a significant boost to Uganda’s micro-business sector, EIB Global has partnered with Centenary Bank to provide financing to over 24,000 micro-businesses. This initiative aims to support the growth and development of small-scale entrepreneurs, who are crucial to the country’s economic development. The partnership will provide access to financial services, including loans and savings accounts, to micro-businesses that often struggle to access traditional banking services. This financing will enable these businesses to expand their operations, increase their productivity, and create new job opportunities. The partnership between EIB Global and Centenary Bank is a testament to the importance of collaboration between international organizations and local financial institutions in supporting economic development in Africa. By providing financing to micro-businesses, this initiative will contribute to the reduction of poverty and inequality, and will help to promote economic growth and stability in Uganda. The success of this partnership will also serve as a model for other countries in the region, highlighting the potential for similar collaborations to drive economic development and reduce poverty.
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