Diamond Trust Bank (DTB) and Kampala City Traders Association (KACITA) have officially joined forces to bolster the local trading community and champion sustainable business practices. The strategic partnership, announced today at KACITA’s headquarters in Kampala, marks a significant step towards providing tailored financial and banking services to empower traders and communities across the country.

DTB Uganda CEO, Varghese Thambi, emphasized the partnership’s commitment to facilitating best business, management, and financial practices through training initiatives. The collaboration aims to empower traders by offering preferential product offers and imparting essential skills to enhance their overall business acumen.

ESG introduction for sustainable business practices

A pivotal aspect of this partnership involves DTB introducing the concept of Environmental, Social, and Governance (ESG) to the business community. Stakeholders from KACITA Uganda and DTB will actively engage in discussions on energy efficiency, reduction of carbon emissions, and other areas aligned with the UN Social Development Goals. This initiative underscores the commitment to sustainable development within the business sector.

Support for KACITA village and women in business

DTB’s support extends to the establishment of the KACITA Village, where collaboration with property developers will provide land for KACITA members. DTB will facilitate financing to enable KACITA members, particularly women and youth, to acquire land on the KACITA Village estate. The focus on women in business is especially noteworthy, with DTB CEO Thambi acknowledging the resilience of women-led businesses and their pivotal role in national growth.

Recognizing the challenges faced by key business players, particularly women and youth, Mr. Thambi stated that the partnership’s offerings would be tailored to address the specific needs of these demographics. DTB also aims to provide targeted support that fosters the growth and sustainability of businesses led by women and youth.

Positive reception from KACITA chairman

Thadeus Musoke, Chairman of KACITA Uganda, expressed gratitude for DTB’s recognition of their organization as a partner.

He highlighted that focusing on women traders is crucial, given that 65% of businesses in the association are run by women.

Musoke believes that with adequate support, women-led businesses will not only thrive but also play a pivotal role in national development.

In conclusion, the DTB and KACITA partnership emerges as a promising alliance geared towards fostering financial empowerment, sustainable business practices, and inclusivity for women and youth in Uganda’s trading community.