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Xpress Money announces partnership with dfcu Bank

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dfcu Bank Uganda’s Chief of Business, William Sekabembe

dfcu Bank Uganda’s Chief of Business, William Sekabembe

Xpress Money, one of the most dependable money transfer brands in the world, has partnered with dfcu Bank, the second largest bank in Uganda, to offer customers the convenience of transferring money across dfcu Bank branches. The partnership augments Xpress Money’s network; adding another 67 bank branches to its existing network of 158 agent locations in the country.

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Uganda is a key remittance market in East Africa. The country received $1.1 billion in 2016, according to World Bank reports; countries including United Kingdom, Rwanda, United States of America and Canada are the top sources of remittance to this market. While Uganda is chiefly a receive market, the country has also shown a significant rise in outbound remittances to countries including United Arab Emirates, India and Pakistan, in the last few years.

Xpress Money, increasing its commitment to the Uganda market, is constantly expanding its network to cater to the growing demand of money transfer services. The company currently provides remittance offerings that include both send (Cash to Cash, Account Credits and Mobile Wallets) and receive (Cash to Cash transfers) services in the country; and is also in the process of collaborating with businesses to offer other innovative and customizable remittance solutions.

“At Xpress Money, we are committed to creating a memorable experience for our customers by providing them with convenient ways to send and receive money. Uganda is one of the leading remittance receiving countries in East Africa, wherein, Ugandans living and working outside the country are saving and sending money back home. Therefore, it’s important that we have a strong network as the demand for instant, convenient and secure remittance services increases with each passing year. Through our partnership with dfcu Bank, we aim to address this demand and elevate the level of customer convenience in this market,” said Sudhesh Giriyan, COO, Xpress Money.

According to the William Sekabembe, dfcu Bank Chief of Business and Executive Director, partnering with Xpress Money, a global money transfer brand, provides the bank with an additional channel for its customers and the general public to send and receive money from the diaspora. “We are seeing a rise in the global remittance industry and if the world bank estimates that indicate private capital remittances to Uganda reached over UGX 3.5 trillion in 2016 is anything to go by the trend will continue,” says Sekabembe.

“Xpress Money is known for its strong network globally, particulary in the Middle East and South East Asia; partnering with the brand is therefore particularly important for us given the growing number of Ugandans that migrate to the Middle East and South East Asia for work which form a good base for inward remittances. Considering the volume of transactions between Uganda, Middle East and Asia dfcu Bank is poised to provide a wide network for secure and convenient money transfer services for its customers and the public,”  he adds.

With dfcu Bank’s wide network of sixty seven (67) branches across Uganda customers now have secure and convenient money transfer services literarly at their doorstep underpinning the banks commitment to take financial services closer to the people.

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Local Business

dfcu Bank rewards best performing staff with Dubai trip

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In line with dfcu Bank’s reward and recognition policy, the Bank has seen off 10 of its staff members for an all-expense paid trip to Dubai. The team which will travel to Dubai was flagged off at the Bank’s office in Nakasero on Thursday.

The staff participated in a challenge dubbed “Twende Dubai” that gave chance to the various staff and departments of the bank to take part in various activities that lined up with its core business goals.

Speaking at the event, dfcu Bank’s Chief Commercial Officer and Executive Director; William Sekabembe revealed that the 10 staff members were part of a larger team who have displayed exceptional performance during the Bank’s first half-year.

“The ten members standing here today were given tough challenges in their individual roles. They were tasked with meeting specific responsibilities and they have gone over and above in achieving them. dfcu Bank takes great pride in rewarding our teams- which is a part of our organization’s reward and recognition policy,” he said.

“dfcu Bank has made impressive achievements over the first half of this year and we are in line with our business and strategic goals. I congratulate everyone here this morning because their efforts have played a role in this.” He concluded his remarks by asking the team to enjoy their-well deserved win.

Denis Kibuuka-Musoke, Head of Consumer Banking at dfcu Bank, commended the winners of “Twende Dubai” saying their tireless efforts are a testament to their exceptional work ethic and to Bank’s long term goals.

The team of 10 will enjoy an all-expenses trip which includes touring of various attractions in Dubai, UAE.

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Celebrity Gossip

SK Mbuga out of prison, set for Kampala return.

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Tycoon Sulaiman Kabangala Mbuga aka SK Mbuga is a free man according to sources in Dubai. Mbuga is said to be out of the coolers in Dubai where he was early this year arrested for fraudulently getting money from a Swedish citizen. SK Mbuga has been finally released from Awir Central Jail in Dubai but is yet to return to Kampala as he is still making clearance.

Mbuga and his wife Vivian Chebet were accused of fraudulent transfer of money amounting to about Shs23 billion from a company account that Chebet was running with her 71-year- old Swedish boyfriend, Sten Heinsoo.

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Entertainment News

Photos: How BBS Terefayina gave Ugandans a worthwhile World Cup experience.

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The recently concluded World Cup will go down as one that gave Ugandans an experience to remember. Ugandans have in the past one month been glued on their screens to catch up with every update from the event.

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One station stands out on World Cup coverage, Mengo based BBS Terefayina will take the credit for the 360 coverage of the month long event. BBS Terefayina a month prior to event partnered with Kwese to bring live coverage of event and was on point through the event as it brought every game live to millions of homes.

The station did cover even to the most rural areas of the country with different activations countrywide. Activations were done in Nansana, Masaka, Mityana, Sheraton and Lugogo cricket oval where all venues were filled to capacity.

The very successful month long campaign was sponsored by Nile Special, Coca-Cola, Finca, Prestige, Multi-tech, Spear Motors and Equity bank.

Here are some moments.

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