{"id":41774,"date":"2022-12-19T20:59:53","date_gmt":"2022-12-19T20:59:53","guid":{"rendered":"https:\/\/www.africa-press.net\/uganda\/all-news\/construction-companies-discussing-with-udb-for-cheaper-loans"},"modified":"2022-12-19T21:07:13","modified_gmt":"2022-12-19T21:07:13","slug":"construction-companies-discussing-with-udb-for-cheaper-loans","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/uganda\/all-news\/construction-companies-discussing-with-udb-for-cheaper-loans","title":{"rendered":"Construction companies discussing with UDB for cheaper loans"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Uganda. <\/strong><\/span>Uganda National Association of Building, Construction and Engineering Companies (UNABCEC), has said it is discussing with Uganda Development Bank (UDB) for its members to access cheaper financing.<\/p>\n<p>Speaking during the association\u2019s annual general meeting in Kampala last week, Mr Jamesone Olonya, the UNABCEC president, said their members should be considered for cheaper financing.<\/p>\n<p>\u201cWe are discussing with UDB so that they can give us single digit loans,\u201d he said without providing details.<\/p>\n<p>Construction companies, he said, by nature need patient capital because they take long to have gainful return on investment.<\/p>\n<p>This, he added, is worsened by delayed payments, especially for companies working on government projects, noting that at least 90 percent of members have experienced payment delays due to government.<\/p>\n<p>Mr Olonya also indicated that as UNABCEC they supported government\u2019s move to save Roko Construction Company, which in June had indicated that its operations had been weighed down by the effect of Covid-19.<\/p>\n<p>\u201cWe stand with Roko. Their projects have been fit for purpose and they have been around for some time,\u201d he said.<\/p>\n<p>Roko was eventually bailed out through a supplementary request of Shs207b that was passed by Parliament in July. The annual general meeting brings together members to account for activities done to benefit members.<\/p>\n<p>Mr Olonya also indicated that in their five-year strategic plan, UNABCEC will tighten controls to weed out quacks, negotiate for better loan terms and demand timely clearance of arrears by government, adding that the association also amended its constitution, affording it an opportunity to make members more accountable.<\/p>\n<p><strong>For More News And Analysis About <a href=\"https:\/\/www.africa-press.net\/uganda\">Uganda<\/a> Follow <a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Uganda. Uganda National Association of Building, Construction and Engineering Companies (UNABCEC), has said it is discussing with Uganda Development Bank (UDB) for its members to access cheaper financing. Speaking during the association\u2019s annual general meeting in Kampala last week, Mr Jamesone Olonya, the UNABCEC president, said their members should be considered for cheaper [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":41773,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,3],"tags":[233,240,234],"class_list":["post-41774","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-community","tag-africa-press","tag-africa-press-uganda","tag-uganda"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Construction companies discussing with UDB for cheaper loans - Uganda<\/title>\n<meta name=\"description\" content=\"Uganda National Association of Building, Construction and Engineering Companies (UNABCEC), has said it is discussing wit ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/uganda\/all-news\/construction-companies-discussing-with-udb-for-cheaper-loans\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Construction companies discussing with UDB for cheaper loans\" \/>\n<meta property=\"og:description\" content=\"Uganda National Association of Building, Construction and Engineering Companies (UNABCEC), has said it is discussing wit ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/uganda\/all-news\/construction-companies-discussing-with-udb-for-cheaper-loans\" \/>\n<meta property=\"og:site_name\" content=\"Uganda\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-12-19T20:59:53+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-19T21:07:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2022\/12\/postQueueImg_1671470999.13.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/construction-companies-discussing-with-udb-for-cheaper-loans#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/construction-companies-discussing-with-udb-for-cheaper-loans\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Construction companies discussing with UDB for cheaper loans\",\"datePublished\":\"2022-12-19T20:59:53+00:00\",\"dateModified\":\"2022-12-19T21:07:13+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/construction-companies-discussing-with-udb-for-cheaper-loans\"},\"wordCount\":278,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/construction-companies-discussing-with-udb-for-cheaper-loans#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2022\/12\/postQueueImg_1671470999.13.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Uganda\",\"uganda\"],\"articleSection\":[\"all news\",\"community\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/uganda\/all-news\/construction-companies-discussing-with-udb-for-cheaper-loans#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/construction-companies-discussing-with-udb-for-cheaper-loans\",\"url\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/construction-companies-discussing-with-udb-for-cheaper-loans\",\"name\":\"Construction companies discussing with UDB for cheaper loans - 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