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Buganda Land Board and Kenya Commercial Bank (KCB) signed an MOU to enable KCB to join other financial institutions working with Buganda Land Board to extend credit to people living on Buganda Kingdom land to acquire land titles and also to develop their bibanja. The signing took place at KCB’s headquarters in Kampala. As per the MOU, KCB-bank will be availing credit to bibanja holders on Buganda Kingdom land, who wish to acquire land titles which they can then use as collateral to acquire more credit to develop their bibanja while Buganda Land Board shall undertake to identify rightful Bibanja holders, recommend and forward their applications for financial support to KCB Bank.


The MDs of KCB-Uganda and BLB signing the MOU.

 

At the ceremony, the Managing Director of KCB-Uganda Mr. Edgar Byamah said, “We have desired to sign with Buganda Land Board and are elated to sign this MOU.This MOU proposition will allow kibanja owners (tenants) on Buganda Kingdom land to get proper leasehold titles which will later allow them further access to additional funding from the bank when used as collateral. At KCB Bank, we’re committed to supporting Buganda Kingdom in streamlining their activities and policies.”

The MDs of KCB-Uganda and BLB preparing themselves to sign the MOU. Looking on were officials from both parties.


The MDs of KCB-Uganda and BLB preparing themselves to sign the MOU. Looking on were officials from both parties.
 

In his remarks, the Managing Director of Buganda Land Board Owek.Kyewalabye-Male.D emphasized the role of the Board in this understanding, saying that,

“Our role in the process will be to confirm to KCB, the relevant and related information and documentation regarding any respective interest of the Kibanja holder upon the said land, at a fee to be paid by the kibanja holder.”

KCB-Uganda joined other financial institutions which are part of the very successful LAFI scheme which has not seen any kibanja who has utilized the scheme to get themselves land titles default on their loan repayment schedule.


 Mr.Ssenyomo Daniel(standing in the middle) guiding BLB’s MD during the signing ceremony

How LAFI works.

1. Applicant applies for a land title from Buganda Land Board through the LAFI service.
2. The financial institution of their choice will pay the costs needed for you to get a land title.
3. The financial institution then holds your land title as security and gives you credit to develop your land.

The other partnering financial institutions so far are;
1. Centenary bank.
2. Opportunity bank.
3. Finance Trust bank.
4. Post bank.
5.Equity bank.
6. Tropical bank.
7. Bank Of Africa.
8. Letshego.
9. EFC
10. Ugafode.
11. Vision fund.
12. Yako microfinance.
13. Bridge Credit Finance.
14. Pride Microfinance.

 

 

 

BLB officials, L-R, Owek.Kyewalabye-Male(MD),
Mr.Simon Kabogoza(Head Corporate Affairs), Omuk.Bashir Juma Kizito (Head
Operations and Business Development) having a light moment at the function.
BLB’s MD speaking at the function


 

Omuk.Bashir KIzito Juma speaking at the function.

L-R Cissy, Rosette, Damalie, Teo and Wilber of BLB following the function…….

 







BLB and KCB-Uganda officials in a joint photo after the signing of the MOU.

 

 

 

 

BLB officials, L-R, Owek.Kyewalabye-Male(MD), Mr.Simon Kabogoza(Head Corporate Affairs), Omuk.Bashir Juma Kizito (Head Operations and Business Development) having a light moment at the function.