Local Business
United Bank for Africa to roll out Agent banking
Find out information about Coronavirus in Uganda. More here.
Johnson Agoreyo, the Managing Director and CEO of UBA Uganda, addressing media.
By Our Reporter
With the goal of widening their service offering and responding to the ever changing customers’ needs, United Bank for Africa – Uganda will soon be rolling out Agent banking. This was revealed during a media briefing organized by the bank to discuss its strategic plans for the second half of 2018 on Thursday at the Kampala Serena Hotel.
Agent banking is the delivery of financial services outside conventional bank branches, where a licensed financial institution contracts a third party operator(agent), who is approved by the Bank of Uganda, to provide a range of financial services on its behalf.
Addressing the media, Johnson Agoreyo, the Managing Director and CEO of UBA Uganda, revealed that the product offering will help drive financial inclusion as it will extend the bank’s services to remote areas.
“We have been granted a license by the regulator to start Agent Banking and are already in the process of recruiting agents. This will help drive financial inclusion and bring banking services to unreachable areas. We expect to be up and running by the end of August.” Agoreyo said.
“Our customers are the most important part of our business and we endeavour to keep them at the center of all that we do, which is why we continue to invent and introduce products and services that respond to their needs,” he added.
Emeke E. Iweriebor(L), the Executive Director /CEO East and Southern Africa and Johnson Agoreyo, the Managing Director and CEO of UBA Uganda during the media briefing.
Meanwhile, United Bank for Africa(UBA) which has a presence in 20 African countries has been at the forefront of development in Africa by funding massive projects in Infrastructure, healthcare, education, oil and gas and agriculture. In the last 5 years, UBA has supported infrastructure and development projects in East and Southern Africa worth over 500 million USD.
UBA Uganda in the same breath is partnering with the government and private sector to offer funding for similar projects. “As a group, we are committed to Uganda and shall harness a combination of its human resources, our experience and capacity to make a positive contribution to its economy,” said Emeke E. Iweriebor, the Executive Director /CEO East and Southern Africa.
In addition, UBA is keen to partner and support the government in its development agenda. The bank is currently implementing an e-voucher payment system project with the Ministry of Agriculture, Animal Industry and Fisheries to facilitate funding of over 4,500 customers.
Find out information about Coronavirus in Uganda. More here.
Asher Namanya, the founder and developer of Cash Chat
By Our Reporter
Cash Chat, an online platform facilitating social and financial transactions, has been updated and upgraded with the latest high value features for better user experience.
Through the Cash Chat app, users can transfer money, advertise products & services, chat with people, upload statuses and make voice and video calls.
Asher Namanya, founder of Cash Chat in a notice to subscribers of the mobile app advised them to download the upgraded app from Google Play Store.
The latest features added on the app include posting of videos on status, posting advert videos, swiping to reply messages, seeing advert views, sending out group invites and links among other notable features.
Namanya said the new updates will allow agents to advertise on behalf of companies; also, users will earn from the adverts.
“Business is now, more than ever, going online and we want to spearhead this transition,” he said.
Interested individuals and companies can register to become Cash Chat advertising agents on their website (www.cashchatapp.com). Namanya revealed that advertising agents will receive online training on how to do business on the mobile application.
“We are going to give our advertising agents and members of the public the right skills to do business on our platform. We believe that the future of developing countries like Uganda is in investing in innovations like Cash Chat,” he added.
Find out information about Coronavirus in Uganda. More here.
By Our Reporter
African Queen, a leading distributor for fast-moving consumer goods in Uganda, has donated 18 tonnes of maize towards COVID-19 relief efforts.
The donation comes in response to the President’s call to the private sector to support government’s efforts in offering relief to the vulnerable Ugandans most affected by the Coronavirus pandemic.
The African Queen team led by their Managing Director Innocent B. Tibayeita handed over their donation to Hon. Mary Karooro Okurut, the Minister in Charge of General Duties, Office of the Prime Minister on Tuesday.
“Our partners heard the plea of our President H.E Yoweri Kaguta Museveni on offering support to the COVID-19 Task Force that has been mandated to not only lead the fight against the COVID-19 virus but also ensure proper distribution of food to those families that have been greatly affected during this time,” said Innocent B. Tibayeita. “African Queen thus wishes to make a donation of 18 tonnes of maize towards this cause.”
He further lauded the government for their concerted efforts in combating the pandemic.
The government continues to receive donations from the private sector in form of cash, new vehicles, foodstuffs, sanitizers, and essential medical supplies among others. The government has so far received contributions amounting to about Ugx 21 billon.
Find out information about Coronavirus in Uganda. More here.
Giles Aijukwe, the CEO Letshego Uganda
By Our Reporter
Letshego Uganda has rolled out a Repayment Holiday facility to its borrowers in the wake of the Coronavirus pandemic that has gripped the world.
The repayment holiday involves giving customers a 3 month moratorium- meaning he/she/they (the borrowers) will not be required to pay their installments during that duration.
Different Heads of States, in their response to the pandemic, have implored the business community to augment government’ initiatives to offer financial relief to their customers and specifically lenders to offer repayment holidays and loan restructuring to their customers. It is in this regard that Letshego Uganda; a subsidiary of Letshego Holdings, a premier financial services company based in Botswana and with a footprint in 11 African countries has heeded to the call.
“The Repayment Holiday allows you to take some time out from the financial burden of repayments. It is important however, to note that this holiday mainly targets those customers whose businesses have been affected by Government Intervention measures during the current COVID-19 through business lockdown and closure for example those in sectors like- Education, Tourism, Transport, Leisure and Hospitality,” Aijukwe Giles, the CEO of Letshego elaborated.
The employees/clients that belong to these employers/industry sector will apply for the holiday and be approved based on the case presented. The biggest positive about a repayment holiday is that it relieves some pressure for a while. For a period of time, you have one less thing to worry about when considering outgoings.
“In line with their operational mandate, Letshego practices responsible lending and acts in a customer’s best interests, ensuring affordability, transparency of terms and conditions as well as supporting the borrower if they experience repayment difficulties. This means that by the time they have approved your loan application, they’ve made the effort to determine whether you can repay without substantial hardship,” Aijukwe affirmed.
Letshego has designed a simple application form to be signed by the customer; that will then be scanned and sent to the branch. Customers are also encouraged to use their digital and online platforms (WhatsApp and web application forms) to apply for these holidays. Furthermore, the Repayment Holiday is not only being extended to those in Kampala only but countrywide, across where we have a presence.
Aijukwe added, “A list of qualifying customers has been generated across our 45 branches countrywide and our branch teams are reaching out to them. Customers who are not yet contacted are encouraged to contact their respective branch managers and relationship officers to confirm if they qualify for the Repayment Holiday.”
Microfinance institutions were developed with the common purpose of contributing in the socio-economic changes of communities. As evidenced on numerous occasions, microfinances have exponentially uplifted the economic status of people by providing credit to individuals and skill based groups so that they are able to better their family and community stand.
Find out information about Coronavirus in Uganda. More here.
By Reporter
With the launch of the integrated e-shopping platform StarTimes GO, the company is excited to have connected with the first customer, Sula, last weekend. After watching the TV programme StarTimes GO, Sula decided to buy a solar kit alongside with a 24″ Digital LED TV. She made a call to StarTimes to order the products and was quite pleased with the door to door delivery and installation. While receiving her order, Sula said, “I like that StarTimes can easily be accessed in terms of customer care services unlike some service providers. I was interested in buying the solar kit which helps during power blackout situations. It will also help us enjoy our family TV-watching time without worrying about unstable power supply. I was relieved to know that we can pay for the solar kit in instalments. This reduces on the financial burden. With StarTimes GO giving a special offer on plenty of products, we got a FREE two-year TV program bouquet for our solar kit!”
The captain of the car fleet for delivery, Charles, escorted the products to the customer’s home which is about 40km away from the city centre of Kampala. He said, “It is not quite convenient for a family living far away from the city centre to carry these products home. We hope that the customers can enjoy their shopping with StarTimes GO from the beginning to the end.”
Together with Charles, the whole team of delivery and installation are quite honoured to complete the mission for serving the first customer of StarTimes GO, among other customers who followed, especially when they see the smile of satisfaction on their faces.
Mr. Franklin Wang, the StarTimes CEO in Uganda remarked, “We have been thinking of the considerate services which make the digital life available to more people hence the e-shopping platform StarTimes GO. We appreciate the support and trust given by the customers; and thanks to our staff in call centre, delivery car fleet and installation team, the StarTimes GO is operating as we expected and will keep providing products of quality to the public.”
StarTimes GO has made it easier to shop digitally for the product you need. Book via StarTimes GO and enjoy great discounts be it on a decoder, TV or solar system. Order with StarTimes interactive e-shopping platform StarTimes GO at ugmall.startimestv.com or call 0701152863/ 0781962712 and your package will be delivered to you.
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