Opportunity Bank, in line with its strategy to grow the education portfolio through enhancing education quality, will be launching a new loan facility extended to the students of Nkumba University to assist with acquisition of laptops for learning.
This shall be done in partnership with Endless Solutions a technology company based in the USA with a unique Linux operating system called Endless. Endless Solutions shall supply to students Asus and Lenovo laptops fully installed with Endless operating system.
Nkumba University currently has over 5,000 students enrolled with an expected year-on-year growth of 1 000 students, for the next three years.
The Bank expects to finance 2 000 students in the first year and 2 500 in the second and third, generating a portfolio of UGX3 billion in year 1, UGX3.75Billion in year 2 and 3 respectively with a net income of UGX1.7 Billion over the 3 years.
The official launch took place on the 25th of April, which was attended by university management, student leaders, representatives from the bank, as well as members for Endless Solutions.
The Bank is proud to be forming partnerships that will not only benefit the bank, but more importantly impact the lives of thousands of learners that are not able to afford the simple tools for their University.