Dr. Fabian Kasi, the Managing Director of Centenary Bank, has revealed that the bank has invested over Shs200 billion in Ugandan startups since in the past few years.
This significant investment has benefited over 5,000 enterprises, providing them with crucial funding to drive business growth, create jobs, and contribute to national development, according to Dr. Kasi.
Speaking at a stakeholders’ meeting hosted by the East African Development Bank (EADB) in Kampala, Kasi emphasized Centenary Bank’s commitment to championing development in Uganda.
The meeting aimed to explore ways to strengthen collaboration, accelerate development, and expand reach and capabilities in driving Uganda’s economic growth.
“Through partnerships like EADB, Centenary Bank intends to continue enabling long-term financing solutions for businesses and communities, which will boost revenue and spur economic development in the long run,” Kasi said.
Boosting Financial Inclusion
Kasi emphasized that Centenary Bank has been at the forefront of increasing accessibility to financial services in Uganda. Through its Agent Banking, Mobile Money, and Internet Banking services, the bank has significantly extended its reach across the country, making financial inclusion more possible than ever.
Impact of Centenary Bank’s Financial Inclusion Efforts:
It should be noted that over 1,500 agents have been deployed across the country, providing financial services to rural and underserved communities.
Information available indicates that Mobile Money services have reached over 2 million customers, enabling them to access financial services conveniently.
In addition, Internet Banking services have been adopted by over 500,000 customers, providing them with a secure and convenient way to manage their finances, all courtesy of Centenary Bank.
Strategic Partnerships for Sustainable Development
Centenary Bank recognizes the importance of strategic partnerships in driving economic transformation and creating opportunities for all. The bank’s partnership with EADB is a testament to its commitment to fostering collaborations that drive sustainable development.
“Partnerships like EADB have been instrumental in fostering financial inclusion and supporting key groups like youth and women, who are central to sustainable development,” Kasi noted.
Centenary Bank’s investment of over Shs200 billion in Ugandan startups is a significant boost to the country’s economic growth.
Through its Agent Banking, Mobile Money, and Internet Banking services, the bank is increasing accessibility to financial services, driving financial inclusion, and supporting sustainable development.
As the bank continues to champion development in Uganda, it is clear that its efforts will have a lasting impact on the country’s economic landscape.