PR014/11
June 16, 2011
United States Government Funds Mobile Banking in Rural Uganda
KAMPALA – Today, the United States Government, through United States Agency for International Development (USAID) in partnership with Centenary Bank, launched a state-of-the-art, fully on-line, mobile banking unit (MBU). The MBU is a full-service bank branch housed within a van with fully staffed teller windows, lending officers, two automatic teller machines, and an online, real-time satellite data connection to Centenary Bank’s data systems. The unit will bring financial services to the door step of over 300,000 residents of Amolatar and Amuru districts.
Speaking at the launch, USAID Mission Director Dave Eckerson noted that “USAID’s strategy for strengthening the financial sector of Uganda emphasizes the need to broaden and deepen access to financial services in rural Uganda. A strong rural financial sector is a requisite to moving agricultural production from subsistence farming to commercial production…”
USAID has been working with farmers and producer organizations throughout Uganda for over 15 years, significantly improving the incomes of participating rural farmers. The USAID Livelihoods and Enterprises for Agricultural Development (LEAD) project, which is continuing this effort to catalyze the transformation of Uganda’s agricultural sector from subsistence to commercial farming, links farmers to formal and informal financial services in order to increase their access to financial services. Therefore this “branch-on-wheels” is expected to provide services to over 300,000 rural dwellers, mostly farmers and agribusiness-related enterprises. The MBU will also broaden the impact of USAID Uganda’s Development Credit Authority Loan Guarantee Program, a credit facility offered through Centenary Bank (among others) whereby USAID incentivizes rural lending by sharing some of the risks on agriculture-related credits to rural Ugandans.
The United States is committed to help Uganda spread the benefits of its economic growth across the country while promoting sound economic policies.
For additional information, please contact:
Nanyonga Dorothy, Information Assistant, U.S. Mission Uganda
Tel: +256-414-250-314x6104 Cell: +077222-14-12, 0784846334
Email: NanyongaDx@state.gov
U.S. Mission in Uganda - Press Release- United States Government Funds Mobile Banking in rural Uganda
Hello all,
Today, the United States Government, through United States Agency for International Development (USAID) in partnership with Centenary Bank, launched a state-of-the-art, fully on-line, mobile banking unit (MBU). The MBU is a full-service bank branch housed within a van with fully staffed teller windows, lending officers, two automatic teller machines, and an online, real-time satellite data connection to Centenary Bank’s data systems. The unit will bring financial services to the door step of over 300,000 residents of Amolatar and Amuru districts.
For details please refer to the attached press release.
Thank you for your continued support.
Nanyonga Dorothy
Information Assistant
U.S Embassy Kampala
Tel: 256-41-4-306001[Ext.6410]
Cell: 0752623508,0784846334,0772221412
Email: NanyongaDX@state.gov
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