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KCB Bank marks 10 years in Uganda

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Joram Kiarie (R), the KCB Bank Uganda Managing Director with Dr. Louis Kasekende (C)the Deputy Governor and Bank of Uganda during the bank’s 10-year celebration in Uganda.

Joram Kiarie (R), the KCB Bank Uganda Managing Director with Dr. Louis Kasekende (C)the Deputy Governor and Bank of Uganda during the bank’s 10-year celebration in Uganda.

KCB Bank Uganda marked 10 years in the Ugandan market at a customer dinner held at Kampala Serena Hotel graced by the Deputy Bank of Uganda Governor Dr. Louis Kasekende, the KCB Group CEO, Mr Joshua Oigara and the Bank Board of Directors.

Speaking at the event, Joram Kiarie the KCB Bank Uganda MD said; “Today marks a major milestone for us as KCB Bank Uganda as we mark ten years in this market and 120 years since we started out in East Africa. It is a journey that has provided wonderful memories and witnessed the building of useful and lifelong business relationships with
our customers.”

KCB Bank Uganda opened its first branch on Commercial Plaza, Kampala Road in November 2007 and has since opened a total of 16 branches, eight of them in Kampala and eight others in major towns around Uganda in Jinja, Mbale, Lira, Gulu, Arua, Hoima, Fort Portal and Mbarara.

The deputy governor, bank of Uganda Dr. Louis Kasekende reiterated the impact of technology in the financial sector services. “Financial services providers need to innovate continuously for them to remain competitive in the face of technological advancement. In the next decade, the whole sector is going to be characterized by adoption of new technologies,” noted Kasekende.

The Deputy Governor commended KCB for supporting community development in the country. “We at the central bank are conscious of the role of financial intermediation provided by the banks like KCB in this market and we don’t take it for granted. In order for business to grow it needs financing and KCB has played that role so well financing some of the most outstanding projects in the market, ” he noted.

KCB has grown its asset base to UGX 717 billion, from UGX 59 billion ten years ago with gross loans of up to UGX 231 billion issued to date.

The KCB Board Chairman Aga Sekalala Jr said the next ten years will see heavy investment in agency banking as a way of deepening the bank’s presence and relevance in Uganda.

“The next years will see heavy investment in digital platforms as we increasingly create more convenience for our customers but also equally purposeful growth in our retail space through agent banking which we will be launching any time now. “

KCB Bank is one of the lenders that have already secured the regulator’s license to carry out Agent banking in Uganda. The bank has carried out successful agent banking in Rwanda, Tanzania, Burundi and Kenya.

On his part KCB Group CEO Joshua Oigara spoke about the vibrancy of the Uganda market and the bank’s commitment to change lives for a long time to come.

“The financial sector is at the nexus of enabling real transformation of most of our people and the generation to come, as a bank we want to enable and create opportunities, resources and jobs for the next generation,” noted Oigara KCB Bank.

Uganda has invested over UGX2.5 billion shillings in communities through its Corporate Social Responsibility arm the KCB Foundation in areas of enterprise development Education, Health, Environment and Humanitarian Aid.

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Companies

MTN Uganda launches 5G connectivity, first in East Africa and 3rd in Africa with connection

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By Reporter

MTN Uganda has today taken internet connectivity to another level. With fourth-generation (4G) technology still staggering, the leading telecom company in Uganda has introduced 5G connectivity. At an event today at the offices in Kololo, MTN Uganda demonstrated the first live demo of 5G network in Uganda in an event presided over by Prime Minister Dr. Ruhana Rugunda who represented President Yoweri Museveni fulfilling their earlier promise to commercially roll out 5G in before 2020 ends.“5G will make our life better, drive incremental capacity and open up new businesses. MTN as a company is constantly making efforts to break barriers by democratizing voice and data connectivity in order to improve subscriber experience,” said MTN Uganda’s CEO, Wim Vanhelleputte.

It is also expected that with an adequate spectrum allocated to the 5G standard, the increased capacity would result in lower data cost to Uganda.

MTN is working with South Korean firm ZTE the market leaders in 5G. ZTE is already working with operators to out 5+.

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Local Business

MTN MoMoPay Customers to win free shopping worth UGX 1,000,000 in a Trolley Dash experience.

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By Staff Writer

MTN is set to reward its customers who have embraced paying for their goods and services using the Telecom giant’s mobile payment platform, MTN MoMo Pay.

MoMo Pay is an MTN service that allows customers to pay for their goods and services directly from their mobile money accounts using their mobile devices at no cost. Retailers and businesses receive the payments for the goods and services instantly.

Up to 20 customers will be selected from a draw to participate in a trolley dash where they shall be allowed to shop merchandise of up to 1 million shillings in 60 seconds. To stand a chance to enter the draw, customers are required to make 2 MoMoPay transactions each week. 

Ali Monzer the General Manager Mobile Financial Services said the promotion is MTN’s way of giving back to customers for adopting the service one year since it was launched. “The response from customers has been overwhelming. Many of the people have appreciated the convenience of having to pay for all their goods and services using MoMo Pay. Thus we felt the need to thank them by giving back to them and that’s why we launched this promotion.”

MoMo Pay is MTN’s way of creating convenience for customers and merchants alike. “The world is going cashless today. It’s now more convenient to go cashless than to carry lots of cash on you. You can literally run your life using MoMo Pay. You can pay for your meals, medication, car service, shopping and several other services using MoMo Pay,” Monzer said.

This service is available to merchants who register for the service and all MTN Mobile Money customers.

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Local Business

Harvest Money Expo 4th edition launched

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By Our Reporter

dfcu Bank in partnership with Vision Group and the Netherlands Embassy have launched this year’s edition of the Harvest Money Expo that will take place from 14 th – 16 th February, at Mandela National Stadium, Nambole.

Under the theme ‘Value Addition’, dfcu Bank and its partners seek to improve production and marketing of agricultural products to increase the commodity value in order to ensure a rise in sales, market growth and that farmers get a good price for their products.

The Harvest Money Expo initiative, now in its 4th edition, aims to highlight the contribution of agriculture to the development of the economy and also change the negative perception that most Ugandans hold towards agriculture as not being a good career option.

Speaking during the Expo launch, dfcu Bank’s CEO, Mathias Katamba, said; “The economy of Uganda can be transformed through mechanization improvement of agriculture, commercialization and taking advantage of the unique nature of our country’s weather and soils. As dfcu Bank, we would like to offer more support to the agricultural industry by giving farmers access to equipment for agricultural mechanization through our asset financing product.”

Mr. Katamba also reiterated the need to get young people involved in agriculture to grow the sector.

Last year, over 28,000 people attended the Harvest Money Expo. This year, the sponsors and organizers are aiming for a target of over 35,000 people who will include; farmers, business representatives, the general public, foreign exhibitors from various countries. The Netherlands Embassy has promised to have a ‘Netherlands Village’ at the Expo, where 48 companies including 16 top Dutch agriculture companies will showcase, share knowledge and farming experiences.

The Vision Group CEO, Robert Kabushenga said; “The Harvest Money Expo has become a calendar event for every farmer because of the benefits they get from it. It is also a social event where people come to socialize and share knowledge.”

This year’s Harvest Money Expo will also have in attendance all the past winners of the Best farmers’ competition.

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