Kampala, 16^th March, 2021 – FINCA Uganda, in association with other financial sector players in Uganda has today launched an aggressive digital campaign dubbed “#DigitalIsHere”. This was at an event held at the company offices in Kololo.

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The campaign is an array of digital products geared towards augmenting the bank’s service delivery to its customers. FINCA customers can remotely open accounts using FINCA Digital Field Automation, download the FINCA mobile app and self on board, Transact at any Cente Agent points or apply for chip and pin VISA enabled card.

To achieve this ambitious project, FINCA sought right Partners i.e. Centenary Bank to offer the Agency banking platform, United Bank of Africa to offer the VISA cards and Eclectics a software solutions company to develop the mobile banking applications

Speaking at the launch, FINCA’s Managing Director, James Onyutta emphasized the importance of these digital interventions. He said that, “In today’s digital era, customer convenience is redefined on a daily basis and this has been intensified by the Coronavirus pandemic. The majority of today’s customers now prefer to carry out basic financial transactions with ease and comfort.”

“As a customer-centric institution, we understand that our clients require access to fast, easy and self-service oriented financial services wherever they are and at any time of the day. As such, we have seen it fit to respond to this dynamic change in customer needs by investing in robust digital capabilities through partners like Centenary Bank, UBA and Eclectics.” Onyutta remarked.

In his remarks, Centenary Bank Managing Director Fabian Kasi explained that, “As a Bank, our goal has been to make banking accessible and convenient for as many people as possible, through our channels including, Mobile banking, internet banking, the branch network, Visa and agency banking.”

“However, to make this possible, one of the strategies we have chosen is to use technology with likeminded partners who can support this direction, like FINCA Uganda,” he noted, adding that, “We want to thank FINCA for the role they are playing in financial inclusion, not forgetting the partnership we have launched today, that will see FINCA customers transact on Centenary Bank’s Agency Banking network with over 4,000 Cente Agents across the Country, which we call ‘Banking in your neighborhood.”

Mr. Mbugua, the Managing Director of Eclectics group thanked FINCA Uganda for choosing them as their preferred software company in this critical digital inclusion project.

“We are committed to FINCA’s quest to move with the times by offering innovative, relevant, secure digital banking products to the Uganda market.

The Digital solution implemented for FINCA these digital innovative solutions will not only help FINCA Uganda serve its customers better, anywhere, anytime but will enable them acquire more new customers in the near future. Uganda is one of its kind having automated their unique nature of business to serve their customers. This is done your smart phone mobile apps as well as USSD technologies.”

The partnership with UBA will see an expansion in utilization of VISA cards at all UBA terminals and worldwide. The UBA managing director- Chioma Mang expressed her optimism with this partnership.

“We believe that this partnership will go along way in pushing for a cardless economy, a direction the government has shown keen interest in” She said.

FINCA Uganda is committed to its quest to move with the times by offering innovative, relevant products to the market. We will continue to offer customer-driven solutions that will help to enable the financial future of the communities we serve.

Partners with Centenary Bank, UBA and Eclectics

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PRESIDENT MUSEVENI URGES EUROPEAN INVESTORS TO TAP INTO UGANDA’S ECONOMIC OPPORTUNITIES

President Yoweri Kaguta Museveni has urged European investors to take advantage of Uganda’s economic opportunities, particularly in infrastructure, energy, manufacturing and agriculture, saying investment in productive sectors is key to expanding markets, creating jobs and accelerating economic transformation. The President made the remarks today at State House Entebbe during a meeting with European Union Ambassadors and investors, where he highlighted Africa’s growing population and expanding market as a major opportunity for European businesses seeking investment and stronger economic partnerships. “This is what we have been advising our European friends to look at, because Africa is a big potential market with its fast-growing population,” he said. President Museveni attributed political instability in some African countries partly to identity-based politics, including tribalism, religious divisions and ideological misunderstandings, as well as a failure to appreciate the role of the private sector in driving economic growth. He said Uganda had learnt from these challenges and emphasised the need for a stable political and economic environment that enables private businesses to invest, expand production and create employment. The President welcomed ongoing and proposed European investments in Uganda, particularly in infrastructure and other productive sectors, saying such projects would strengthen economic links between Uganda and the European market. “All these projects are music to my ears. By constructing these projects here, you are linking the market of Uganda to that of Europe. Why can’t anyone see that?” he asked. On energy, President Museveni said the cost of electricity remained a critical factor in Uganda’s competitiveness, particularly for manufacturers seeking to produce goods at affordable prices. While welcoming private-sector investment in hydropower generation, he called for greater attention to electricity tariffs, arguing that affordable power was essential for industrial expansion and economic growth. He identified affordable electricity, railway transport and accessible financing for productive investments as key priorities for strengthening Uganda’s manufacturing sector. The President cited the Uganda Development Bank as an important source of financing for businesses engaged in productive activities, explaining that the government had retained the institution to support investments capable of expanding production and creating jobs. He also urged the European Investment Bank to channel more financing into strategic infrastructure, particularly railway development, electricity generation and distribution, and selected road projects. On road infrastructure, President Museveni encouraged European investors to explore opportunities in construction and financing models, including tolling arrangements where appropriate. The President also reaffirmed the government’s support for tax incentives aimed at attracting investment, particularly in manufacturing, and emphasised the importance of enabling eligible businesses to benefit from a 10-year tax holiday. ...

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