Capital Markets Authority And Uganda Manufacturers Association Sign MOU To Increase Long Term Financing For Manufacturers

Posted by: lukwago J in Business February 17, 2021

In a bid to expand long-term financing for manufacturers across the region, Capital Markets Authority and Uganda Manufacturers Association have signed a partnership to further business operations.

UMA Executive Director Daniel Birungi says the memorandum of Understanding between two institutions will address the lack of long-term credit for manufacturers.

“The memorandum of Understanding between Capital Markets Authority and Uganda Manufacturers Association will drive the cost of credit by the private sector and to members of Uganda manufacturers association. With the facility we shall be able to address long-term financial needs. This is for both small and Medium Enterprises who form 80% of our members, “Birungi said.

Birungi however challenged the private sector and manufacturers to take advantage of financing facility revamp their investments.

Capital Markets Authority boss Timothy Kalegire urged manufacturers to embrace capital markets equity and bonds. He says this is the solution for long-term financing to finance the growth of businesses.

Cma master plan includes improving security regulation, increasing the pool of finances to support SMEs.

Depend on savings and increasing pension funds.

Deo Kayemba Director East Africa Roofing Systems welcomed the initiative. However, he decried the exorbitant fees required for listing companies on security exchange.

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