Centenary Bank Uganda and MasterCard East Africa have signed a deal to deepen financial inclusion in Uganda. The deal was sealed at the annual Banking Conference 2017 that took place at Kampala Serena Hotel.
According to centenary bank they have partnered in a multi pronged approach to digitizing Uganda’s economy. This initiative is in support of the National Financial Inclusion Strategy.
The partnership will provide a broad suite of digital payment solutions in Uganda according to Centenary Bank MD Fabian Kasi.
“In our position as the largest commercial micro-finance bank in country, with over 1.4 million customers, we are committed to delivering solutions that meet the diverse needs of people, especially those living in rural areas. Part of this commitment is working alongside partners that share our vision, and MasterCard will work with us to diversify our services and solutions,” explained Mr. Kasi. “We will also be working with their advisory team to develop a strong framework for current and future interventions, with the help of market and global insights.”
MasterCard has committed to financially empower 100 million people in Africa by 2020,” this is according to Chris Bwakira, Vice President and Area Business Head for MasterCard East Africa.
They have already signed a Memorandum of Understanding with Uganda Bankers Association (UBA) and also opened a MasterCard Lab for Financial Inclusion in Uganda.
About Centenary Bank
Centenary Bank is Uganda’s leading commercial micro finance bank licensed by Bank of Uganda serving customers with 69 branches and 172 ATMs across the country. The Bank has over 1.4 million customers. The Banks mission is to provide appropriate financial services especially Micro finance to all people in a sustainable manner and in accordance with the law.
MasterCard is a technology company in the global payments industry. MasterCard operates the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone.