By Wafula Malik
On Thursday, MD Stephen Mukweli led a PostBank Uganda (PBU) entourage into Kotido town, the second Municipality to be established by government in Karamoja sub region. Mission? They were here to commission the opening of a new branch which is actually PostBank’s second brick and mortar in the economically vulnerable sub region. The pioneer branch was opened years ago in Moroto Municipality and the Thursday development in Kotido brings the PBU countrywide network to 42 branches now. In his speech to a jubilant audience, Mukweli said this doesn’t only show resilience and growth on the side of the bank but also PBU’s commitment to deepen financial inclusion by bringing banking services nearer to people in areas the competition considers too hard-to-reach, risky and not attractive to invest in. “As a national bank, financial inclusion is the major focus in all we do and this new branch is an opportunity for us to bring services closer to the wanainchi in Kotido,” Mukweli said.
“We cater for customers who do not have traditional collateral by embracing social collateral and non-titled/registered assets. I wish to encourage the people of Kotido and surrounding areas to take advantage of our bank products like solar loans, water and kyapa loans for sustainable development and value enhancement.” Mostly using its mobile banking vans, PostBank has been serving Karamoja sub region since 2008. This makes it nine (9) straight years of excellent banking services and Mukweli says PBU’s relationship with the people of this sub region can only get better. He was optimistic the new branch will enable PBU serve larger number of people by way of availing banking services and financial literacy programs to them. The new branch location will also diminish the cost customers in Kotido have been incurring to access banking services. According to PBU Communications & CSR Manager Jackie Kwesiga, the Kotido branch establishment was partly funded by Agricultural Business Initiative (aBi) whose Advocacy Officer George Mutagubya reflected on the impactful partnership they have so far had with PBU. This is what he said: “aBi Trust support is aimed at increasing access to financial services by agribusiness actors along the agricultural value chains. This is part of our strategy to deepen and expand branch network and bank services delivery mechanisms.” Indeed aBi has previously supported the establishment of PBU branches in would-be hard to reach areas like Anaka, Nwoya, Nakasongola and Bweyale in Kiryandongo district. The Kotido branch-opening ceremony was also graced by PBU Board Chairperson Grace Bakunda who said: “Financial inclusion is key to poverty reduction and inclusive growth which allows many Ugandans to be actively engaged in growing the economy.
Uganda is destined to the lower middle income category of tiered economies and our presence here should create new opportunities for the people of Kotido not to be left behind.” Further branch expansion is consistent with PBU’s commitment to deepen financial inclusion by lowering the cost Ugandans incur to access financial services. In line with that resolve, PBU will naturally be seen in the coming months and years reaching out to grass root ordinary people in otherwise remote places that are considered unattractive for other bank institutions. Mukweli believes that, as a responsible corporate citizen, PBU has an obligation not to only make money but also support the economic transformation of people in the communities where they operate. For comments, call, text or whatsapp us on 0703164755.
