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Airtel Uganda Signs Partnership Agreement with Finance Trust Bank

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Uganda’s Smartphone network, Airtel Uganda has partnered with Finance Trust Bank to improve its customers’ experience by leveraging on technology to enhance the movement of money between their Airtel money wallets and their deposit accounts at Finance Trust Bank.

The Finance Trust Bank’s mobile banking platform dubbed ‘SimuYo BankYo’ was introduced to give the bank’s customers access to a variety of services including: balance inquiries, movement of money from one account to another, airtime purchase, bills payment as well as movement of money – Mobile Wallet to Bank and Bank to Mobile Wallet also known as Push & Pull.

According to Mrs. Annet Nakawunde Mulindwa, the Managing Director – Finance Trust Bank, “The bank is growing its delivery channels to give its customers more options and methods of accessing their deposits. Our customers can now deposit money on their savings account at their convenience without necessarily coming to the banking hall and we hope that this convenience will help customers save on time spent en route to the bank or in queues inside the bank.”

Airtel Money Director Mr. Paul Langlois(2nd from right), Mrs. Annet Nakawunde Mulindwa, the Managing Director - Finance Trust Bank (centre) and other partners launch the 'SimuYo BankYo' mobile banking platform.

Airtel Money Director Mr. Paul Langlois(2nd from right), Mrs. Annet Nakawunde Mulindwa, the Managing Director – Finance Trust Bank (centre) and other partners launch the ‘SimuYo BankYo’ mobile banking platform.

Mobile money services are widely used by low and medium income people who may not have access to formal banking services and the partnership with Airtel Uganda will see the bank’s growing number of customers have access to banking services on their mobile phones.

“This partnership will help both our customers and non-customers engage with the bank more often since most neighborhoods in rural and urban areas have more than one mobile money access point. This will enhance financial inclusion in addition to growing the banks revenue and deposit base due to banking transactions done Anytime, Anywhere through customers’ mobile phones,” Mrs. Mulindwa added.

Speaking after signing the agreement, the Managing Director Airtel Uganda Mr. Tom Gutjahr applauded Finance Trust Bank for their willingness to enhance the lives of the customers by ensuring real time access to their funds through connection with their mobile money wallets.

“We are proud to be associated with Finance Trust bank, one of the strongest financial institutions in Uganda. Innovative partnerships, such as the one signed today, are ultimately designed to ease the lives of our mutual customers and close the gaps of financial access by ensuring that they have full time control over their bank accounts through our reliable Airtel Money platform,” Gutjar said, adding that Airtel Uganda is committed to ensuring that Ugandans can use their phones, not just as a communication tool but as a banking tool in an easy, affordable and accessible way.

Mr. Godfrey Mutabazi, the Executive Director of Uganda Communications Commission and Chief Guest applauded Finance Trust Bank for joining the list of banks that have invested in increased consumer empowerment as well as rural communication development. He mentioned that rural communication development has been made possible by the willingness of Banks like Finance Trust Bank and telecommunications’ companies like Airtel Uganda to invest heavily in rural areas.

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Local Business

Exim Bank launches Prepaid Cards

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Exim bank introduces Prepaid Cards.

By Our Reporter

Exim Bank has launched a new banking solution aimed at driving financial inclusion and bolstering the cashless economy. The new product, a Visa Prepaid Card, was unveiled on Friday during a launch ceremony held at their head offices along Hannington road in Kampala.

Addressing guests, Mr. Sabhapathy T. Krishnan, the CEO Exim Bank Uganda said, “the Visa Prepaid Card is a journey we have undertaken at Exim Bak today as we strive to bring convenience and digitize the Ugandan economy by making it cashless and enabling financial inclusion of the unbanked.”

He further revealed that the prepaid card is just one of the many steps they have undertaken in the last 12 months towards digitization of transactions and bringing convenience to their customers.

“We have expanded our branch network, launched agency banking and also introduced mobile and internet banking in the past one.This is in a bid to bring experiences available in other parts of the world to our customers.” Mr. Sabhapathy added.

Prepaid Cards combine the convenience of a credit or debit card, but allow you to set your spending limit according to your budget. The cards are available to everyone, regardless of credit rating, income, or whether or not you hold an EXIM Bank account.

The payment platform for the cards will be the Visa network and transactions will be authorized online, real time with no risk of unauthorized overdraft as customer can only make use of funds they have already paid for.

The card can be used to transact globally and supports transactions in upto five currencies including UGX and USD with the card ceiling being UGX 25 Million or USD 15,000.

Moses Watasa, the commissioner of information dissemination monitoring and inspection at the Ministry of ICT and National Guidance, who was also guest of honor commended Exim Bank on the innovation and noted that it will go a long way in encouraging financial discipline.

“We have 6.5 million internet users in Uganda today, and that figure is projected to grow by 50% by 2025. Therefore the launch of this innovation is very timely,” Moses Watasa noted, adding that, “this is a good innovation that will promote financial discipline and facilitate a saving culture with in the country. Saving encourages investment which in turn leads to growth of the economy.”

To register for the Prepaid Card, the customer is required to complete an Application Form and provide a valid National ID for Ugandan Citizens/Passport for foreigners as well as one passport size photo.

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Local Business

Centenary Bank rewards Kampala’s first winners in trolley bash shopping bonanza

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Mrs. Beatrice Lugalambi (4th L), General Manager Corporate Communications , and Marketing at Centenary Bank, poses for a photo with CenteChrismas Trolley Dash Shopping Bonanza winners, and Centenary Bank Staff. This was during the reward of the 1st batch of Kampala Trolley Dash winners.

Mrs. Beatrice Lugalambi (4th L), General Manager Corporate Communications and Marketing at Centenary Bank, poses for a photo with CenteChrismas Trolley Dash Shopping Bonanza winners, and Centenary Bank Staff. This was during the reward of the 1st batch of Kampala Trolley Dash winners.

By Our Reporter

Centenary Bank continues to broaden its banking services with the aim of offering Ugandans convenient banking experiences through its alternative digital banking services.

While addressing the media at the Trolley dash held at Capital Shoppers Nakawa in which four customers were announced winners, Ms. Beatrice Lugalambi, the General Manager Corporate Communications and Marketing at Centenary Bank said that, “we are pleased to be rewarding four winners from our 1st batch of Trolley Dash Shopping Bonanza winners from the Central region. The Central region constitutes the biggest percentage of our customers, and we ought to give back to them, while delivering an enjoyable digital baking experience, all for their benefit”.

“In line with our current festive season slogan at the Bank ‘Christmas has come early’, which rhymes with our promo, customers who use our alternative banking channels; CenteMobile, CenteVisa and CenteAgent to carryout transactions at least three times a week will be rewarded throughout the promo duration,” Lugalambi added.

So far, over 300 customers through the promo have won cash, Gift Hampers and Trolley Dash Shopping Bonanza’s across the country in Mbale, Arua, Fort Portal, Mbarara and Masaka. Winners of the Trolley Dash Shopping Bonanza at Capital Shoppers Nakawa include; Mr. Kayongo Daniel, Ms. Phiona Kesiime, Mr Charles Wamalia, and Ms. Esther Adeke,

The CenteChristmas promo which was launched on November 05th, 2019 will run until December 31st, 2019. To stand a chance to win, bank customers will need to use the services at least thrice a week.

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Retiring Master Brewer shows what Uganda is Made of with Nile Special Stout

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By Reporter

Nile Breweries Master Brewer Moses Musisi has done it again. After developing the great success brands Nile Special, Club and Eagle, he has now created the first Premium Ugandan Stout, a beer that he refers to as the crown on his career.

 Nile Special Stout is a stout Uganda can be proud of. It is brewed with the finest Ugandan Malts and Roasted Barley. It is brewed at the Source of the river Nile. The liquid is beautifully dark and has a truly satisfying rich taste with a long lingering but surprisingly clean after taste. A drinking experience crafted specifically for the growing appetite for richer and more rewarding beers in Uganda.Nile Breweries’ charismatic master brewer, Moses Musisi will start enjoying his well-deserved retirement in a few weeks. When discussing his retirement plans late last year he mentioned his passion for Ugandan beer and the lack of a proper Ugandan Stout. “We have local Dark lagers and there are imported stouts on the market, but I would really like to create a stout that will make Uganda proud,” Musisi said.

“We have tremendous confidence in Moses’ brewing skills; he is definition of a true craftsman, so when he expressed his wish to do something truly remarkable and create something that will be of value for the country, we quickly agreed to move ahead with the project. It is fantastic to see that after many months of crafting the liquid he got it absolutely right,” said Thomas Kamphuis, Country Director, Nile Breweries Ltd.

“In my view this is the legacy every brewer wants to leave,” he added. Nile Special Stout will be for sale to consumers from 29th November.

“As it is a black beer, launching on Black Friday is giving the launch a nice touch. We have a great consumer launch planned at Kyadondo Rugby Club where consumers can experience this great beer while we kick off the new rugby season,” Amou Majok, Nile Breweries Marketing Head said.

“As one of Uganda’s most iconic companies and the undisputed leader of the beer industry with 57.7% market share. We remain committed to brewing great-tasting, high-quality beers that have satisfied beer drinkers for generations. We are proud that 100% of our beers are made in Uganda,” she added.When asked about the ‘Hack’ she commented “In a world where attention is scarce, we needed to use a stunt that was ‘bold and strong’ to get the attention we believe this beer deserves. The campaign truly shows the power of social media and we have been blown away by how quickly it was picked up and the amount of attention it got.”

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