The world at large is dealing with the public health, financial and economic implications of the COVID-19 pandemic. Absa Bank Uganda is rolling out an extensive payment relief program for eligible customers that have been directly or indirectly affected by the pandemic. Under this program, customers in sectors that have been directly or indirectly affected by the disruption presented by COVID-19 will be offered payment relief to ease their financial burden.
Customers will be offered payment holidays of up to 6 months, with needs being determined on a case-by-case basis and solutions tailored to individual circumstances — through proactive engagement with the customers. Additionally, eligible customers who are in need of relief can apply and qualify at no additional administration fees.
Commenting on this, Mr. Mumba Kalifungwa, the Managing Director of Absa Bank Uganda said,
“While we appreciate the measures put in place globally to curb the spread of this pandemic, we are also cognizant of the effects they have had on individuals and the business community. Currently, some of the sectors that have been adversely impacted include hotels and restaurants, tourism and hospitality, wholesale and retail trade, transport and logistics, among others.”
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“In light of this, we are therefore aware that some of our customers will experience difficulty meeting their financial obligations and we have introduced a comprehensive customer, business and corporate relief program to help them navigate this difficult time,” he added
Mr. Kalifungwa also noted that support for corporate and business banking clients will entail solutions based on their unique requirements and operations. He went ahead to encourage businesses and corporates to contact their relationship managers for further details.
For the case of salaried customers, the bank will proactively engage with the employers through the Relationship Managers or directly to determine the support to be offered. These measures will be implemented with immediate effect.
“The unprecedented nature of the pandemic means that we are all adapting to the situation as it changes. We reiterate our commitment to our customers and to Uganda to ensure that our livelihoods are secure with minimal disruption. We will continue to monitor the situation closely and adjust our relief program where necessary.”Mr. Mumba Kalifungwa, the Managing Director of Absa Bank Uganda
To allow benefits to reach more customers, Absa Bank Uganda encourages those who can fulfill their obligations to continue making payments.