Stanbic Bank Uganda has unveiled a transformative enhancement to its unsecured lending, extending the Supa Dupa loan repayment tenor from 7 to 10 years. This strategic shift is far more than a simple product update; it’s a bold declaration of the bank’s core objective: Uganda is our home, we grow together.
This game-changing move, announced today by a team from the bank led by Kenneth Agutamba, the Stanbic Bank Manager, Reputation and Communications, is set to directly empower the key pillars of the economy: Women, Youth, and Farmers, by providing them with unprecedented financial flexibility and stability.
Speaking during the unveiling, Israel Arinaitwe, Head of Personal Banking, said, “For many Ugandans, juggling monthly financial commitments, especially with school fees, household expenses, and business needs, can be a significant challenge. By extending the unsecured loan repayment period to 10 years, we are easing the monthly burden, enabling our customers to better manage their cash flow. This added flexibility also creates room for them to top up existing facilities, addressing immediate financial priorities without strain.”
New Financial Blueprint for Women, Youth, and Farmers
For financially stretched Ugandans, particularly those within the Women, Youth, and Farmers (WYF) agenda, this 10-year tenor is a pivotal moment. According to Agutamba, the extension is designed to provide much-needed breathing room, easing the burden of monthly financial commitments and unlocking a new era of investment.
For Women Entrepreneurs
A longer repayment period means a more manageable cash flow. This empowers women to invest in their businesses, purchase new equipment, or expand their operations without the immediate pressure of high monthly payments.
This is a direct complement to initiatives like the bank’s Stanbic for Her program and the Stanbic Business Incubator, which provides a dedicated support system for female-led businesses.
For the Youth
Uganda’s youthful population is its greatest asset. By extending loan terms, Stanbic is making it easier for young professionals to invest in their education, acquire assets, or secure capital for a startup.
This is a direct response to the need to turn a demographic dividend into a tangible economic force, shifting mindsets from job-seeking to job-creating.
For Farmers
The agricultural sector, which is central to Uganda’s economy, faces unique financial challenges due to its seasonal nature.
A 10-year unsecured loan allows farmers to make long-term investments in modern farming technologies, improved irrigation, or larger plots of land, with repayment structures that are more forgiving and aligned with their income cycles.
Building a Resilient, Digitally-Led Economy
The impact of the new unsecured loan structure extends to businesses and institutions as well, a point underscored by Melissa Nyakwera, Head of Commercial Banking.
She highlighted that commercial clients, many of whom are Women or Youth-led enterprises, will gain from the longer tenor, allowing for improved financial planning and investment in growth opportunities.
“With this new unsecured loan structure, businesses can access larger facilities with more manageable repayments over a longer period. This means enhanced liquidity to support operations, invest in infrastructure, or manage salaries ahead of the new academic term.”
She revealed that to further support these clients, the bank is actively promoting its digital payment platforms, including FlexiPay, Agent Banking, and USSD *290#.
These channels, Nyakwera emphasised, provide a seamless, secure, and convenient way for customers to make payments, reinforcing Stanbic’s commitment to building a comprehensive financial ecosystem.
The integration of digital solutions with flexible lending is a powerful combination that moves beyond traditional banking to offer smart, customer-centric solutions.
By empowering the foundational pillars of the Ugandan economy with this new lending option, Stanbic Bank reaffirms its position as a trusted development partner.
The initiative is a testament to its commitment to fostering sustainable growth, making it possible for Ugandans to meet their goals, manage their finances responsibly, and, ultimately, grow together.