Equity bank on how SMEs can regain their footing in 2022
As the schools open, one of the major impediments that they have to grapple with is paying off loans, especially for the private school owners, who got the bank facility before the closure of schools for two years. However, some have reportedly advised parents to pay school fees via mobile money platforms to avoid banks recovering their due interest accrued from borrowed money. NTV’s Sudhir Byaruhanga spoke to the Executive Director of Equity Bank Anthony Kituuka, who said proprietors who fail to declare their cash flow after schools reopen, risk losing their schools, as banks seek to recover their money.
