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MTN bags prestigious international award.

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MTN LOGOBarely 21 years of age since it was formed, MTN has joined an elite group of household brands such as Apple and Coca Cola after being voted the Brand of the Year in the telecommunications category at the World Branding Awards in London, United Kingdom.

MTN was one of over 2,500 brand nominated from 35 countries to be eligible for this much-sought after accolade. Only 119 brands were selected as the winners in their respective categories, and MTN emerged as the only brand in the telecommunications sector that qualified to receive this award.

Winners of the World Branding Awards are judged on three variables, namely brand valuation, consumer market research and public online voting.

“This prestigious accolade is testament to the work that has been done by our colleagues, employees and partners in building our brand,” says Larry Annetts, Sales and Marketing Executive: MTN South Africa.

This recognition to MTN follows the #1 Most Valuable Brand for 2015 accolade that was conferred to MTN by Brand Finance Plc, the world’s leading independent brand valuation and ratings firm, earlier this month.

“These awards are indicative of the milestones we are achieving in our quest to continue to create a distinct customer experience to our stakeholders,” Annetts concludes.

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Local Business

Barclays Bank Uganda officially changes name to Absa Bank Uganda

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By Our Reporter

Absa Bank Uganda, a subsidiary of Absa Group Limited has today received the license to operate and trade under its new name from Bank of Uganda. Formerly known as Barclays Bank Uganda, the name change marks the start of a new era for the bank’s operations, one that sees the realisation of an ambition to become an independent African bank.

The license was officially handed over to the bank’s Managing Director, Nazim Mahmood by Prof. Emmanuel Mutebile, Governor, Bank of Uganda at the Central Bank head office.

“Today we begin a new chapter as Absa Bank Uganda Limited, adopting our parent company’s name and brand while retaining our indelible commitment to Uganda and its people. Our new brand is a commitment to Uganda and to the wider continent: Absa is a truly African bank, with global scalability and reach,” said Nazim Mahmood, Managing Director of Absa Bank Uganda Limited.

The company, which has been operating in Uganda for close 92 years, reiterated its commitment to the country’s growth and economic development under the Absa brand.

“We have invested in crucial sectors of development of the national economy, including trade, agriculture, SMEs, infrastructure and investments. We will continue to play a critical role by investing in these sectors without neglecting the ordinary citizen who seeks quality financial services and safe investments for their hard-earned money,” said Mahmood.

The Governor commended Absa Bank Uganda for contributing to the growth of the banking sector in the past and urged them to continue to deliver quality and affordable financial services.

“Key to our agenda is the provision of affordable financial services to Ugandans especially the rural population, who remain unbanked and therefore financially excluded. We are keen to see continuity with Absa in provision of quality financial services and drive the private sector development agenda,” Prof. Mutebile said.

For customers, there will be no change to their account details and there will no fee changes associated with the name change. The bank’s branches will continue to operate as usual.

From 11 November 2019, all new cards and cheque books will be issued under the Absa brand. Barclays’ cards will continue to work as normal until their date of expiry. Customers can continue to use their Barclays’ cheque books until April 2020. After that date only cheques drawn on from an Absa cheque book will be accepted.

Customers are urged to be particularly vigilant during this time, as fraudsters are always looking for opportunities to obtain important personal information.

Mahmood reaffirmed that the bank would remain a significant player in the banking and financial services sector in Uganda and a contributor to Uganda’s economy.

“As Absa, our ambition is to become a digitally led bank that is centred around the ever changing needs of customers. We believe we have a role to play and intend to leverage digital technology to expand reach and access of financial services but also provide affordable services.” he said.

As part of the bank’s financial inclusion agenda, the bank announced that it now had a network of 450 active agents spread across the country offering agency banking services and a high volume of transactions totalling to 248,000 this year alone.

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Local Business

Total Uganda to reward lucky customers with brand new cars

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By Our Reporter

Total Uganda has unveiled a new nationwide campaign dubbed Epic Battle aimed at driving increased consumption of its Total Excellium fuel in addition to rewarding its customers for the continued support.

Speaking at the launch event at the Total Nakawa service station, Mr. Obi iMEMBA said, “I’m very pleased to announce our new campaign code named ‘EPIC BATTLE’ with a mission to eliminate dirt from your engine. At Total we believe a clean engine lasts longer. By eliminating deposits, TOTAL EXCELLIUM enables your engine to maintain its performance. Its anti-corrosion technology protects your engine for an extended lifetime.”

He further noted that, “customer expectations are changing, along with their relationship to energy. With products and services that are more digital, more responsible and closer to their requirements, we anticipate our customers needs to ensure that we remain their preferred partner. New trends require digitalization of the customer experience, greater emphasis on product utility and increased energy efficiency. We are transforming our customers expectations and their relationship with energy. Under the Epic Battle Campaign is the ‘TOTAL HANDS OFF MY RIDE’ nationwide Promotion. Total Uganda is taking this opportunity to give back to our esteemed customers by rewarding them for their loyalty to the brand this holiday season.”

The promotion will last 2 months with 3 lucky customers walking away with brand new KIA cars as a grand prize. It will include a TV game show where 5 lucky participants will take part in the TV shows that will be aired on Bukedde TV and NTV every Sunday starting Mid-November to Mid-December with repeats on Mondays.

Customer will be rewarded with fuel, free shopping, t-shirts, caps among other give a ways to a tune of 300M whenever they fuel with Total Excellium as nationwide tour in the over 100 stations on the network and 13 taxi parks.

“You stand a double chance when you use your Total Card to transact because every time you fuel we capture your transaction for the promotion so I encourage every customer to get the Total Card and enjoy even more discounts that are currently running on it. All you need to do is fuel Shs50, 000 and above and spin to win instant prizes at a station near you where our promotion teams will be,” Imemba concluded.

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dfcu Bank launches Investment Club App

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By Our Reporter

dfcu Bank has rolled out its Investment Club App, simplifying the day to day management of the group savings by providing a real-time view of all financial activities.

The App will help with tracking contributions, managing group lending and collections; effective reporting and general administration anytime, anywhere.

The App was unveiled during a customer engagement on ‘The Investment Club of the Future’. Key areas of discussion included transparency and accountability in funds management, learning and unlearning investment options as well as digitization and its impact on strategic planning and investment clubs management.

Speaking during the unveiling of the Investment Club App, dfcu Bank’s CEO, Mathias Katamba, said; “We have moved into the future of banking with the aim of enabling our customers access financial services with ease. With over 24,000 active investment clubs, this App will be central to our ongoing financial inclusion drive by encouraging personal and group savings and investments in Uganda.”

“Leveraging technology to deliver a more convenient and efficient banking experience for our customers is at the heart of our digital agenda. By addressing the Investment club pain points, the App will revolutionalise the management of group savings further entrenching a savings & investments culture,” he added.

According to Miranda Bageine Musoke, dfcu Bank Head Personal Banking, the group management App will encourage transparency and accountability in the management of group savings which is one of the main challenges for the clubs.

“We developed the features of our Investment Club App based on insights we got from our customers and financial reports. The App has all the tools that will help users easily and securely manage their finances,” Miranda noted.

The App that is available on Android and iOS is free to download and also has a web-based management portal. Feature phone users can access the platform through USSD *240*100#.

The App has been designed to provide full support for managing regular activities of groups such as investment clubs, SACCOs, Village Savings and Lending Associations(VSLAs), Rotating Savings and Credit Associations(ROSCAs) and companies operating as Investment clubs or SACCOs.

According to a 2018 FinScope Uganda survey, 52% of adults (9.7 million) have mobile phones and 10% (1.9 million) have access to the internet. The survey showed that more than half (54%; 10 million) of Ugandan adults save or put money away with the intention to continue doing so to ensure that the amount increases over time. Most adults who save (43%; 4.3 million), save with savings groups and 23% of savers (2.3 million) keep money on their mobile phones.

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