President Yoweri Museveni has received and held a meeting with the executive officials of Bayport Financial Services Limited at State House, Entebbe with whom he discussed the contributions that the company has rendered to Uganda in the micro-finance services sector in the past 15 years it has operated in the country.
Launched in 2004, the Company has proved itself a leading non-deposit credit provider in Uganda and staffed with 250 permanent employees, around 190 mobile sales agents, it serves more 31,600 customers 49 branches. The company offers short, medium and long term loans, Education Protection Policy and Credit Life Cover. The bulk of the loans, according to information, are dedicated to school fees, farming, and small businesses, among others.
The President assured the officials who included Bayport Uganda Chief Executive Officer, Allan Ochaka, the Group Chief Operations Officer, Bryan Arlow as well as Nothando Ndebele who is the Group’s Capital Markets Executive, among others, that Uganda is a free economy but cautioned the officials to be greatly mindful about importation of legitimate products into the country.
The Bayport Group Country Director for East and Southern Africa, Paul Silverman, informed the meeting that the company has been able to create a positive impact on the standard of living of thousands of Ugandans through enabling them access credit and financial services, particularly those in the Civil Service with emphasis on those in rural-based remote areas.
“Bayport company, therefore, presents its credentials as a serious investor in Uganda and the African continent,” he said.