BLB, Managing Director Omuk. Kyewalabye Male (left) and Bank Of Africa head, Mr. Arthur Isiko exchange documents after a signing ceremony at hotel Africana last week. Looking on at the extreme left is Princess Joan Nassolo while head legal, Barnabas Ndawula (at the back) also witnessed this occasion.
Bank of Africa has partnered with Buganda Land Board to register tenants on Kingdom land especially those with land sales agreements. Bank of Africa became the 15th financial institution to partner with Buganda Land Board in facilitating clients on the Kingdom land with loans to enable them acquire lease titles and secure their tenancy.
The partnership according to the bank’s Managing Director, Arthur Isiko will see both new and existing Bank Of Africa clients register and process lease titles with Buganda Land Board by acquiring ‘Funa Ekyapa’ loan from all BOA branches.
Isiko revealed this during the launch of ‘Funa Ekyapa ne Bank Of Africa’ loan at Hotel Africana, recently. He said that registration and acquisition of land titles will enable clients secure their tenancy and engage in sustainable development on the Kingdom land.
He noted that clients with such titles would also stand a chance of presenting them to the bank as collateral to widen opportunities of accessing larger loan amounts sufficient for their business or personal financial needs.
The M.D called upon all the Kingdom tenants with untitled land especially in areas like Kampala, Wakiso, Mukono, Masaka, Mityana and others to register it with BLB so that they can stand a chance of accessing the ‘Kyapa loan’ from bank of Africa for a future prospect.
During his presentation, Buganda Land Board Managing Director, Omuk. Kyewalabye Male emphasized the need to have proper documentation on land because it is the only way to ensure a secured security of tenure and therefore a steady progress.
‘And that’s why BLB joined hands with financial institutions like Bank of Africa and others so that we can help tenants on the Kingdom land access loans to chase lease titles for a secured tenure. A stable tenure provides a stable future on which fruitful investments can thrive ’, Omuk. Male pointed out.