Uganda, April 15 -- After falling short of minimum paid-up capital for commercial banks, Guaranty Trust Bank has shifted attention to funding small and medium-sized businesses to shore up its balance sheet.

The bank indicated that it "believes this is the right decision considering global economic realities," following extensive consultation with Bank of Uganda.

The Ministry of Finance raised the minimum capital requirement to Shs120b in 2022, and is further expected to cap to Shs150b by June.

The move, government has previously indicated, seeks to protect financial institutions and the banking industry from economic shocks.

However, due to its inability to increase its capital base to the required levels, GTBank, together with Opport...