By Goodluck Musinguzi
Health workers in Uganda have a reason to smile after the Ministry of Health and Stanbic Bank Uganda signed the partnership Memorandum of Understanding that will see health workers access loans as low as 15.5% interest rate and free financial knowledge.
Dr. Diana Atwine, Permanent Secretary Ministry of Health, and Anne Jjuko, Managing Director Stanbic Bank Uganda signed on behalf of the two Institutions. Speaking at the signing ceremony held at MOH Headquarters in Wandegeya, the PS said these affordable loans will make a lot of change in the lives of the health workers and their families.
Most times, Health Workers have been looking for a voice of a leader in Government that will look for opportunities on their behalf so that it improves their well-being as they concentrate on life-saving assignments.
Dr. Diana Atwine said “as health workers, we are trained to save lives but never get to know the nitty-gritty of financial management, saving, and other aspects of financial literacy. So this is a great opportunity that Stanbic Uganda has come out to support. This is a very motivating contribution”.
Health workers will be able to do their work without being told because the Government through the Ministries of Health and Public Service is working hard to motivate them. Health workers found themselves working hard as the world stopped due to Covid19 and therefore needed relief through such loans to improve their well-being.
Motivated employees ensure there is a positive atmosphere within the organization. Co-workers are happy and feel safe at work. Therefore getting personal unsecured salary loans, secured loans, mortgages to vehicles, and asset financing loans will improve their well-being.
“Health workers deserve the best. Every health worker deserves a home of their own. We at Stanbic Bank will walk with them in this journey and support their dreams.” – Anne Juuko, Stanbic Bank CEO
Anne Juuko said, “When I think about everyday heroes, I think about our health workers.”
Human resources are vital to an effective health care system from an economic viewpoint, health workers’ salaries make up a great share of health budgets in most countries. The health worker is the gatekeeper of the health system.
In the workplace, motivation can be defined as an “individual’s degree of willingness to exert and maintain an effort towards organizational goals” Motivation is closely linked to job satisfaction, which retains workers at their jobs over time. Health worker retention reduces costs to the health system of having to recruit, hire, and orient new workers and also reduces the likelihood of vacant posts.
As many countries currently experience a shortage of qualified health workers, the loss of any health worker—especially doctors and nurses—has serious ramifications for the health of people in that country. Keeping health workers satisfied and motivated helps the entire health system work smoothly
As part of their Corporate Social Responsibility, Stanbic Uganda has offered a package of low-interest loans to Government health workers across the country. Ministry of Health leadership thanked Stanbic Uganda for being a diligent and patriotic institution committed to seeing Uganda grow.
Health is Wealth and anything that touches anyone’s health touches their wellbeing. That’s why COVID19 managed to make economies crumble; because it touched people’s health……
Speaking at the signing ceremony, PS Dr Diana Atwine said these affordable loans will make a lot of change in the lives of the health workers and their families.
According to CEO Ann Jjuko, people who qualify for the loans include Employees of MoH, Medical/health workers Employees who have been posted and have reported to a health facility as their duty station.
Given the continuing impact of the Covid-19 pandemic, the bank through a reputable insurance provider will also provide hospitalization support for health workers who might be admitted with the disease.
There will be a daily allowance of up to Shs200,000 per night for a duration of 20 nights, however, this specific offer will last until December 2021.
In the unfortunate case of the death of the health worker, a funeral cash benefit of up to a Shs2million will be paid to the next of kin to support the funeral arrangements.
Another benefit for the health workers from the partnership includes financial literacy training and advisory through the Stanbic Bank Incubator. They will undergo customized programs structured to support their financial journey and achieving financial freedom.
The bank will use its digital solutions like Flexipay – an integrated merchant and wallet solution – to help health workers make payments as well as receive cash at various points across the country using their phones.
Juuko (Stanbic Bank CE) said this new proposition is in line with the bank’s commitment to serving Ugandans by supporting individuals who have been most adversely affected by the coronavirus pandemic.
“We firmly believe that this is the first among many milestones we shall and can achieve for the health workers across the country,” Juuko said, “it is also in line with our purpose, Uganda is our home, we drive her growth.”
The Permanent Secretary for the Ministry of Health Dr. Diana Atwine, applauded the bank for coming up with these subsidized financial service offers for health workers who, she said, have tirelessly been on the frontline to save lives during the pandemic.