Housing Finance Bank unveils new Trade Finance Solution

Housing Finance Bank unveiled a new competitive Trade Finance Solutions campaign dubbed “Tambuza Business” (Move your business) last week.

The Campaign’s goal is to simplify the trade chain through facilitation of purchase, sale and movement of goods and services from sellers to buyers locally and across borders.

Housing finance has revealed that the Campaign is offering up to UGX 500M unsecured bid bonds within 24 hours.

According to Michael K. Mugabi, the Housing Finance Bank Managing Director, customers also have access to other short-term facilities including Performance Guarantees, Advance Payment Guarantees, export and import financing, and working capital solutions – Contract Finance, supplier finance, Invoice/Certificate Discounting, invoice discounting, LPO financing and much more.

“This campaign is strategically designed to catalyze economic growth through empowerment of businesses with convenient, affordable, and relevant financial solutions such as these,” Mugabi said.

He added that the traders (importers, exporters, contractors, and local traders) now have access to a broad range of short-term products and services to elevate their business.

The campaign is also set to guarantee all traders financial relief on Trade Finance facilities, vehicle asset financing where importations are required and agricultural export, and same day bid bond issuing. (24 hours).

Housing Finance Bank offers tailored Letters of Credit (LCs), which are a financial instrument that guarantees payment to a supplier when specific conditions are met. With LCs, business owners can be confident that their suppliers will be paid on time, which can enable them build stronger relationships with their partners and avoid supply chain disruptions and build trust-based partnerships.

“Our Trade Finance solutions are designed to provide our customers with unmatched value, and we are confident that this campaign will help them manage their cashflow, control business risks, enhance their creditworthiness, and get access to working capital,” Mugabi added.

Housing Finance Bank continues to provide customer-centric solutions, and the Tambuza Business Trade Finance campaign is no exception. The bank encourages customers to take advantage of the Tambuza Business campaign and transform their businesses.

According to Angela Ndawula, Head Business and Institutional Banking, they are confident that the campaign will help businesses in Uganda access the funding and support they need to succeed”.

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