Pride Bank has engaged Small and Medium Enterprises (SMEs) in Mbale District on business growth, access to affordable financing and responsible financial management.
The engagement, held on Wednesday, August 19, 2026, at Mbale Courts View Hotel, brought together members of the local business community as the bank sought to highlight financial products and services available to support businesses.
Speaking at the business breakfast, Daniel Kibira, Pride Bank Manager for SMEs, urged entrepreneurs to exercise financial discipline when borrowing and managing business loans.
He said businesses should ensure that borrowed funds are invested in the purposes for which they were secured, warning that poor financial decisions can affect business performance and growth.
“When you take a business loan, always ensure that you have the discipline to manage the loan. This is the only way you can grow as an SME. Poor business decisions ultimately lead to poor business performance in the long run,” Kibira said.
Joel Wamika, the bank’s Regional Manager, encouraged entrepreneurs in Mbale to take advantage of Pride Bank’s financing solutions to expand their businesses.
Wamika particularly highlighted the Grow for Women Entrepreneurs facility, which is intended to support women seeking to expand their businesses and investments.
Timothy Asingya, Pride Bank’s SME Relationship Manager, outlined several savings and credit products available to businesses and other customers.
Among the products he highlighted was Bridge Finance, which is designed to support schools and religious institutions in meeting short-term financial obligations.
He also highlighted the Small Business Fund supported by the Bank of Uganda, through which eligible customers can access financing of up to Shs500 million at an interest rate of 10 percent, subject to applicable terms and conditions.
Asingya said the bank also provides asset financing to businesses seeking to acquire productive assets, including vehicles. Such facilities can be repaid over a period of up to three years.
Other products highlighted included school fees loans and mortgage facilities.
According to Asingya, customers may access more than one of the bank’s financial products concurrently, subject to their financial capacity and the bank’s lending requirements.
The engagement is part of Pride Bank’s efforts to strengthen its relationship with the SME sector and increase awareness of financing opportunities available to businesses.
The bank said access to appropriate financing, coupled with responsible financial management, can help SMEs expand their operations, create jobs and contribute to local and national economic growth.
