- Equity Bank Uganda and Unilever have launched a financing partnership.
- Strategic partnership aims to enhance liquidity and efficiency for Unilever’s distribution.
- Eazzystock Financing Product offers loans from UGX 1 million to UGX 3 billion.
- Loans up to UGX 1 billion are unsecured, and above need collateral.
- The application process requires just one-time sign-up for convenience.
Overview of the new financing partnership between companies
Equity Bank Uganda and Unilever Uganda have officially joined forces to establish a strategic financing partnership. This new collaboration is aimed squarely at enhancing liquidity and boosting operational efficiency within the distribution network of Unilever. By providing easier access to affordable working capital, this initiative is set to help Unilever’s distribution partners manage their inventories effectively, improve cash flow, and ultimately strengthen the overall supply chain across the country.
Key features of the Eazzystock Financing Product
At the heart of this partnership is the Eazzystock Financing Product, which has been specifically devised for Unilever’s distributors, retailers, and stockists. The loan amounts offered through this scheme can range flexibly from UGX 1 million to UGX 3 billion. The application process is designed to be straightforward, requiring just a single sign-up, and comes equipped with an auto-sweep functionality to enhance user experience. Loans are reviewed quarterly to ensure terms remain fair and effective for all parties involved.
Financial aspects and benefits for distributors
When it comes to costs, there’s a total of 1.15% charged per drawdown, plus an insurance fee of 0.05%. Now, it’s interesting to note that up to UGX 1 billion in loans can be secured without collateral, while anything above that threshold will require some form of security. During a breakfast event aimed at engaging distributors, Christine Mukasa Mugerwa, Acting Head of Corporate Banking at Equity Bank, emphasized the importance of access to funds that can move as swiftly as business demands. ‘You need funds that move as fast as your business,’ she remarked, pointing to the quick, convenient nature of Equity’s tailored working capital solutions. Barbara Aseera, also at the event, noted that this partnership indeed facilitates easier access to working capital, significantly bolstering Unilever’s distribution ecosystem.
In conclusion, the new strategic partnership between Equity Bank Uganda and Unilever has set the stage for enhanced operational efficiency within Unilever’s distribution channels. With tailored financial products like Eazzystock financing, companies can access the working capital they need, simplifying cash flow management and boosting overall supply chain robustness. This initiative is expected to positively influence Uganda’s broader business landscape.
