Stanbic Bank is set to hold four regional markets to promote businesses in the country, Eagle Online has learned. The revelation was made by Anne Juuko, the Chief Executive Officer (CEO) of Stanbic Bank.
In a bid to recognize its customer during the customer service week, Juuko said the first market was held at railway grounds in Kampala. All throughout this month, we are going to celebrate our customers throughout the entire country. The market day will be held in Mbale, Mbarara and Fort Portal and in each of the regions; the bank will be promoting customers’ activities and creating a market for their businesses.
“This week is the global customer service week. There are many ways you can celebrate your customer. We have said thank you, we have written emails and we thought we can do a little more by putting up markets for customers to showcase their products and services,” she said
She said the market has promoted businesses and many of them have had record sales. This has also promoted business-to-business partnerships where business persons can learn, and trade from each other and how best they can do business.
“What one can do is to be a Stanbic customer and take up stalls provided by the bank. Showcasing is free of charge. I am looking forward to seeing customers talking to each other buying and learning from each other and we intend to do this every year,” she said
“We educate our customers on the fundamentals of doing business. We have heard that a typical Ugandan business doesn’t go beyond its third birthday. The ideas are good, and there are customers but because there are poor cooperate governance practices, they die at stillbirth. So we want to educate them on how they can grow their businesses and thrive.”
She said no country has ever developed to the Middle-income status and beyond without the engine of growth, and that is the SMEs. It has the potential to employ many more people than any other sector, increase tax collection and add value and GDP to our country.
“The biggest challenge we have found with our customers is lack of record keeping. Customers can’t tell you their monthly sales, or expenses. When they approach us, it is difficult to access them in order to give them loans. Record keeping is good for you as a customer of the bank and knowing how you are doing as a business and tax point of view,” she said
