Nduhira Peter Arinaitwe, Managing Director of Challenger Uganda Limited, speaking on the Tukikube ne I&M Bank podcast.In a landscape where businesses often come and go within a short spell, a few construction companies have managed to remain steady, consistently delivering projects and maintaining a strong presence in the industry.With a legacy spanning over 20 years, Challenger Uganda Limited, one of the leading construction companies, has stood the test of time.From humble beginnings to a clientele boasting entities like Total Energies, Rubis Energy, Vivo Energy, UNHCR, MTN, Majid Al Futtaim Hypermarkets, among many others, Challenger has continued to grow from strength to strength.For Challenger, the secret has been choosing the right bank, one that understands the unique demands of the construction sector and offers tailored financial solutions to support long-term growth.While appearing on the Tukikube ne I&M Bank podcast, Nduhira Peter Arinaitwe, the Managing Director of Challenger Uganda Limited, stated that the company was started in 2002 with capital worth Shs200,000, money he received from a friend.With tailored support from the I&M Bank, Challenger has grown steadily over the years, expanding its operations and building a strong reputation in Uganda’s construction industry.“From the beginning, I was looking for a bank that understood my business. So, when I approached I&M Bank, I told them, ‘Look, construction requires money all the time.’ I&M was able to understand my business, and they gave me money before I even gave them security. I don’t know how many banks can give you over Shs700 million without security, but I&M Bank was able to do that…and I can say I am a satisfied customer,” Nduhira said.Basing on the project-based nature of the construction industry, Nduhira believes that flexibility from banks is important because things don’t always go as planned in the sector.“I have banked with many banks, but when it comes to business relationships, I&M ticks all the boxes. There are moments in business when you need funds urgently, whether to pay suppliers, meet project deadlines or seize opportunities, and in such moments I&M Bank always comes through with the support I need,” Nduhira added.Challenger currently runs various projects, which means there are always materials to buy, workers to pay, and deadlines to meet. As a result, spending is constant and cash flow must be carefully managed to keep operations moving smoothly.“We access contract financing with I&M Bank, and every time we get a new contract, they process the LPO facility promptly,” Nduhira said.According to Nduhira, this also helps the company maintain payment schedules for suppliers, subcontractors and staff, which keeps our projects running without delays.According to Nduhira, while I&M Bank has been supportive in easing cash flow pressures, business owners must manage their finances with discipline.“Business money is not your money; it’s for the business. You have to separate personal needs from company finances. So, it must be utilized in the business to keep operations running, pay workers, handle projects, and grow. If you misuse it, even with the bank’s support, you can easily run into trouble,” he explained.While specifically advising starting and aspiring construction firms, Nduhira emphasized the importance of patience, proper financial planning, and building strong relationships with both clients and financial institutions. The post Foundation For Growth: I&M Bank’s Support Powers Challenger Uganda’s Expansion appeared first on Business Focus.