By Our Reporter
Equity Bank Uganda has today unveiled a biometric banking solution for refugees and displaced people geared towards their effort to drive financial inclusion in Uganda. Launched under a program called MM4P – Mobile Money for the Poor in partnership with UNCDF, the solution offers secure electronic cash transfers which ensures financial aid from donors reaches the end beneficiaries in the different camps.
The technology, process and applicability of this solution in Uganda was showcased at a ceremony held at the Kampala Serena hotel on Tuesday.
Speaking at the launch, Anthony Kituuka, the Executive Director Equity Bank Uganda said,”Our vision is to be the champion for socio-economic prosperity for the people of Africa. Today, Equity Bank is introducing technology through various forms of security in biometric verification and carding to allow donor agencies to reach the end beneficiaries in refugee camps.”
Equity Bank is giving refugees the tools they need to increase their resilience & the development partners efficient and transparent solutions for cash transfers. This system will be scaled using the agency banking model.
“This model is heavily dependent on agency banking, and we currently have close to 500 agents approved by the central bank. We can now have agents in the camps so anybody can access financial services.” He added.
Equity Bank has partnered with UN, World Bank, UNCDF, and Financial Sector Deepening to mention but a few.