Ugee

Centenary Bank starts water and sanitation loans

CENTENARY Bank in partnership with the Crestank will be providing loans for water and sanitation solutions under the Home Improvement Loan product. These loans are geared to improve the sanitation of homes in uganda. “Only 11% of Ugandans have running water and this is mainly in urban areas,” the managing director, John Giles, said at the bank’s headquarters on Entebbe Road in Kampala. “The majority of Ugandans rely on natural resources like rivers, wells and lakes that are often far away from homesteads and seasonally become dry, leading to death of animals and people due to contaminated water,” he said. Giles said the loan was repayable in three years. He said the credit scheme was aimed at improving people’s standards of living, which was inline with the bank’s mission of providing banking services to all Ugandans in a sustainable manner. “The prospective clients will inspect Crestanks’ products, which can be purchased at any of their outlets. They will acquire a proforma invoice for the products they intend to buy.” “Loan officers will then assist the buyers complete loan application forms under the normal credit procedures,” Giles said. The bank’s marketing manager, Percy Lubega, said: “Water is life and through harnessing the rain water, the public will be assured of affordable and safe clean water. “It is geared towards improving the hygienic of people in urban areas and increasing water supply in rural areas.”

 

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