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dfcu Bank Takes Step To Cash In-On NGOs

By Aloysious Kasoma

dfcu bank has  moved to consolidate its partnership with Non-Governmental Organizations (NGOs) as well as cashing in-on new ones.

The second biggest commercial Bank in Uganda on Friday hosted a breakfast meeting with over 150 current and prospective NGOs at the Imperial Royale Hotel, with an aim of retaining current ones and wooing those that are yet to join the bank.
The meeting provided a platform for NGOs to hear from experts on how to develop an entrepreneurial mindset if they are to remain relevant and sustainable.

According to William Sekabembe, the Chief of Business & Executive Director at dfcu Bank, for NGOs to remain relevant, they must develop proper structures, be transparent, accountable and innovative.

“With shrinking donor funding and increasing competition, it isimportant that NGOs realign their operations to transition from reliance on grants to becoming social enterprises. This change in mindset and ultimately operations will drive sustainability and make them more attractive to financial institutions and give them leverage
in negotiating for better financial solutions,” Sekabembe said.

The panelists exchanging views during the breakfast meeting

dfcu Bank introduced its NGO account in 2013 and has revamped its offering to give NGOs more so they can carry out their operations with ease.

Renowned Business Consultant Peter Kimbowa widely known as PK, Managing Partner of at Consultants Limited advised banks to do away with Corporate Social Responsibility notion and instead adopt shared value.
“CSR is a handshake, adopt shared value and start collaborating with communities through NGOs. Donors are now fatigued and looking for new ways of funding creative organizations,” Kimbowa said

He said that the new frame work of collaboration is more likely to reduce poverty levels because there is huge success in Nigeria and Mozambique where it is applied.

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