Stanbic Bank Uganda has launched a Now-Now loans campaign to offer Quick and affordable loans to health workers to enable them to overcome financial challenges in the Covid-19 pandemic.
While launching the campaign at Mbale regional referral hospital, Dr. Patrick Ekomera, the Mbale referral hospital Assistant Director, said that they have been facing challenges in getting quick and affordable loans.
“Many banks and other financial institutions have been ignoring us but we thank Stanbic bank for coming out to rescue us,” Dr. Ekomera Said.
Mr. Ekomera further advised health workers to stop dealing with the middlemen in accessing loans.
“These are small briefcase financial institutions that are not recognized. You spent a number of years at school to qualify as a health worker and you want quick money.” You go to big financial services the institutions that can trust you as individuals, which respect the institutions where you’re serving by having an engagement with your Administrators or managers before they access you as their clients.” he said.
Mr. Samuel Fredrick Mwogeza, the executive head of customer Stanbic bank Uganda, said that the campaign was the agreement between the ministry of health and Stanbic bank to offer wide-range services to health workers in the country.
“As everyone was ordered to stay at home but health workers were at the frontline during this covid19 to support them, so we looked as something tangible to contribute to creating a better financial situation to our health workers,” Mr. Mwogeza Said.
He added that We have started with government health workers but soon we shall extend to private to help the health workers get a financial set.
The health workers will benefit from a special interest rate of 15.5%, unsecured loan amount of up to UGX250m, affordable loans, offer
Mr. Jumba Mathias head of employees Stanbic bank noted that the ‘Now-Now loans campaign will offer personal salary loans at a low-interest rate of up to 15.5% but the rates might be subject to changes based on individual loan assessment.
“The effect of the Covid-19 pandemic still exists. Many individuals both in private and public sectors, are experiencing financial stress which brought about the high cost of living and delayed payments.”
“The purpose of putting these loans low is to make health workers get affordable loans. These loans are also a crucial financial service that can help boost businesses and enhance the speedy recovery of the economy,” Jumba said.
