Stanbic unveils new credit lines for customers

Kampala, Uganda | THE INDEPENDENT | Stanbic Bank has launched a new campaign, ‘Oli Sorted for Shuwa’, aimed at providing a financial lifeline to its consumer and commercial clients struggling with cash flow, expensive loan repayments, or school fees ahead of the new term.

The campaign is open to all Stanbic Bank commercial clients and their employees, including both formal and informal sector workers with a monthly income of Shs 150,000 and above.

Israel Arinaitwe, Head of Personal Banking at Stanbic Bank, explained that ‘Oli Sorted for Shuwa’ is designed to ease the cost of borrowing by removing administrative fees and extending repayment periods. “This credit lifeline particularly targets youth clients and single mothers, helping them manage household expenses and school fees during this challenging period,” he said.

Stanbic Bank is also offering clients the option to consolidate multiple loans into one manageable credit facility, which can be repaid over a longer period with smaller monthly instalments. For instance, a Shs 10 million loan can be repaid over 24 instalments instead of 12, reducing the financial strain.

The campaign also benefits young professionals aged 25-35, allowing them to access loans up to Shs 350 million even while on probation, provided they have a stable income from a reputable employer.

Melisa Nyakwera, Head of Commercial Banking, said schools can take advantage of Flexi-lending, with loans up to Shs 500 million available within 48 hours, helping institutions better manage their cash flow.