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In Uganda’s vibrant business scene, enduring partnerships often signify a robust bond and mutual reliance. Joseph Kiyimba, the man behind Ambiance Group of Companies, widely known for his streak of Ambiance nightclubs, strongly identifies with this concept.
As a long-term client with I&M Bank, Kiyimba recently revealed that he has witnessed the evolution of both his business empire and the banking sector. Kiyimba lauded I&M Bank for making him one of the primary beneficiaries of its products and services.
Ambiance Group, a conglomerate encompassing ventures like Ambiance Tree Farm, Ambiance Discotheques, Ambiance Distillers, and Metro Junior Schools, stands as a testament to his entrepreneurial acumen and the unwavering support from I&M Bank since he started banking with the institution in April 2021.
He is one of the leading entrepreneurs and businessmen in Kampala City and Masaka towns. He boasts of a wealth of experience in managing indigenous enterprises and seeing them grow from scratch. Mr. Kiyimba has been in business all his life, first as a merchandising trader, then as an entertainment entrepreneur and later evolving into a manufacturing mogul behind companies like Ambiance Discotheque, and Ambiance Distillers Uganda (Ltd).
Joseph is a shrewd businessman with a strong acumen for success and a passion for greatness. He compensated for his early departure from formal education- at Senior Four, with intensive apprenticeship, and first-hand business learning through practice and demonstration, often taking risks and leveraging high returns of many of the ventures he undertakes.
He is a member of Kampala’s leading business think-tank, the “Kwagalana Group”, a league of wealthy top 50 Ugandan billionaires and business people who come together for a common goal of contributing to growth of business and Uganda’s economy with shared values of commitment, dedication, philanthropy, and trust.
Kiyimba has benefited from a range of financial products and services provided by the bank to support his ventures over the years. He highlighted that he has been a beneficiary of services including financial support in the form of working capital, that has bolstered the day-to-day operations of his businesses, temporary overdrafts- that bridge any short-term gaps in working capital, term loans that he has used for strategic investments like forest acquisitions, as well as asset-backed financing that was crucial for machinery procurement.
Kiyimba stated that he also had access to specialised financial solutions like Local Purchase Order (LPO) Financing.
The renowned businessman also hailed the bank for their seamless Internet banking, which he says has helped him streamline his day-to-day operations and enhance efficiency across his business activities.
“I&M Bank has given me the freedom to do every business that I set out to do,” Kiyimba remarks, highlighting the bank’s flexibility and commitment to walk with him even amidst challenges.
“Honestly, as a client, I haven’t encountered any challenges with them. Our relationship has stood the test of time, and we’ve navigated all possible difficulties together. I applaud I&M Bank for being reliable partners even amidst the most turbulent of times,” he said.
For Kiyimba, the collaboration with the bank transcends mere financial transactions; it embodies a shared journey towards success. He proudly expresses; “whenever I have needed financial support, the bank has consistently been there for me. I consider them true partners for growth.”
Kiyimba’s remarks come at a time when the financial institution is gearing up for their golden jubilee celebrations across the East African region due this month (June 28). His revelations a renowned exemplify the strength of synergy and shared principles.
ABOUT I&M BANK (Uganda) LIMITED
I&M Bank (Uganda) Limited launched its operations in Uganda on 08 November 2021 following the acquisition of Orient Bank. I&M Bank Uganda is part of I&M Group PLC. I&M Group PLC was incorporated on 16th August 1950 and is listed on the Nairobi Securities Exchange (NSE).
I&M Group is diversified with interests in Banking, Insurance, corporate finance advisory, real estate and has subsidiaries in Kenya, Rwanda, Uganda, Tanzania, and Mauritius.
The Group prides itself on its strong values and key strengths of innovative service and strong customer relationships and through these pillars the Group aspires to be “Eastern Africa’s Leading Financial Partner for Growth’’ by offering innovative and market driven banking solutions for its target segments. www.imbankgroup.com/ug
ABOUT I&M GROUP
I&M Group is a leading financial services group in East Africa, with a major presence in Banking, Insurance and Real Estate. The Group offers a full range of personal, business, and alternate banking channels through its presence in Kenya, Tanzania, Rwanda, Mauritius, and Uganda.
I&M Bank Kenya, I&M Holding’s flagship entity, was incorporated in the Republic of Kenya on 14th May 1974 under the name Investments & Mortgages Limited. I&M Group Plc operates in five countries – Kenya, Tanzania, Rwanda, Uganda and Mauritius through its subsidiaries, affiliates, and joint venture investments in each of these countries. Approximately 80% of I&M Holdings Plc’s asset value stems from our Kenyan operations with the largest entity by asset value being I&M Bank Limited.