Slightly over one in every three Ugandans have a bank account, with a reported 16.5 million Ugandans still using traditional saving methods such as physical cash, livestock and agriculture.
With only 16 million bank accounts in the country, over half of the population has no access to savings or credit through financial institutions, as drivers of capital investment and, ultimately a higher rate of economic growth.
Digital financial services, however, are playing a pivotal role in plugging this divide as various institutions are partnering to enhance access to financial services for the unbanked.
Take for instance the MoKash platform in which customers of Ugandan mobile telecommunications company MTN can save from as low as Shs50 and borrow amounts from Shs3000 to Shs1 ...
The digital pan-bank league competition’s top prize includes a trip to Anfield for LFC fans
25 March 2021; Kampala, Uganda – Standard Chartered Bank has announced the launch of BANK MORE SCORE MORE, a digital league competition offering its customers an opportunity to accumulate points that lead to exciting prizes. A compelling initiative for Liverpool Football Club (LFC) fans, BANK MORE SCORE MORE’s competition takes place on the ‘Standard Chartered Virtual League’, where prizes range from authentic Liverpool-branded merchandise, to an all-expenses paid trip to Anfield to watch LFC play.
To partake in the competition, new customers simply need to open and fund a Digital Life Account and take up more products to earn points in the Standard Chartered Virtual Leag...
Dickens Obote Poultry business, Adekokwok sub county, Lira district
Dickens’ poultry farm was a source of poultry products to the surrounding community in Lira during the COVID-19 crisis. However, without the ability to travel and replenish his supplies because of a lockdown on travel, his business struggled to continue serving the community.
Applause upon officially launching the youth in Agribusiness project 2
Minister of Agriculture, animal industry and Fisheries, Hon. Vincent Sempijja addresses participants during the launch
“My poultry business had successfully grown to 3,000 birds by 2019. I was supplying a factory in the city, which has branches throughout the region. Until COVID lockdown struck in 2020, I was delivering 3,000 kroilers and broilers to the company on a ...
Bank Of Uganda Governor Emmanuel Mutebile and Inspector Of Police Ochola vetted were today vetted by Parliament for their new contracts.
Prof. Emmanuel TUMUSIIME-MUTEBILE has served as Governor and Chairman of the Board of Directors of the Bank of Uganda since 2001 to date.
Prof. Emmanuel TUMUSIIME-MUTEBILE
A seasoned professional economist and reformer, he spearheaded the design and implementation of the Economic Reform Program that restored Uganda from the economic crises of the 1970s and 1980s to sound economic performance during his service as the Permanent Secretary/Secretary to the Treasury in the ministry responsible for finance, planning, and economic development.
The Inspector General of Police (IGP) Ochola is seen after being vetted by Parliament ...