Arise yesterday confirmed their commitment to increase investment in DFCU limited in Uganda.
Over the years, Arise has been supportive of the Bank’s development plans which is evidenced in the USD50 million bridging finance provided to the bank last year to diversify their clients and make banking more accessible.
According to Arise Chief Executive Officer, Deepak Malik, ‘’Arise has no intension of relinquishing its shareholding in dfcu as previously reported in media’’.
“The partnership between Arise and dfcu speaks directly to the mandate of Arise, which is to collaborate with local Financial Service Providers (FSPs) in Sub – Saharan Africa to boost economic growth through strengthening the banking sector”, he added. Arise will continue to support any future growth plans of dfcu to contribute to a strong and efficient Ugandan bank, which will promote financial inclusion in the country”, he added.
“Arise is committed to developing inclusive financial systems in Africa and to partnering with sustainable FSPs to strengthen their ability to supply capital and financial services to SMEs, the rural sector and unbanked people and dfcu is an important and key investment of Arise in this development process” concluded Mr Malik.
