Kampala: KCB Uganda in partnership with African Queen Distributors Limited have launched the Juza Duuka product which will aid African Queen retailers have access to quick unsecured loans for new stock.
The announcement was made at African Queen Distributors Limited Head Offices in Namanve. Launched on 13th November 2021, the Juza Duuka product will enable African Queen retailers order for new stock by dialing *244*44# on their mobile phones to have access to the loan and thus have their stock delivered to their location of preference once the process is successfully conducted.
Speaking about the partnership, Mr. Frank Balabyeki, Head of Risk at KCB Uganda said, “We appreciate African Queen Distributors Limited for extending the opportunity to KCB Uganda, and we believe such alliances are key in not only developing both entities, but the economy as a whole as these create diversified investments avenues and employment for individuals in our communities.” The loan will be disbursed to the Customers personal or Business accounts upon approval and immediately it will be deposited to the main account of the African Queen retailer who qualifies for the product and has been an active trader for at least 6 months, plus holds a financial card.
Retailers will have access to a minimum Ushs. 100,000 and maximum Ushs. 3,000,000. Welcoming the collaboration, Mr. Enock Etyang Chief Finance Officer, African Queen Distributor Ltd said, “We want to thank KCB Uganda for the role they are playing towards financial inclusion especially on the digital front, offering customers real-time access to banking services anytime and anywhere, not forgetting the partnership we have launched today that will see African Queen retailers access loans via KCB Uganda to stock new goods in their duuka’s and continue with their day to day operations.”
“KCB Uganda have continuously introduced and developed products that offer the best customer experience via our product and service range like; Mobile Banking, Internet Banking, KCB Agent Banking, among other banking channels and we commit to being the sought-after banking partner for our customers in Uganda and across the region.” Mr. Balabyeki concluded.
