Red Pepper Uganda

POSTBANK IN FINANCIAL INCLUSION DRIVE, OPENS BRANCH IN KOTIDO

PostBank Uganda has opened a branch in Kotido; this is the 42nd branch on the bank’s
network across the country.
During the opening, PostBank’s Managing Director Stephen Mukweli said that as a national
bank, financial inclusion is one of the major focus which they have done by bringing services
closer to the Wananchi. He added that Postbank caters for customers who do not have
traditional collateral by embracing social collateral and non-titled/registered assets. He
encouraged the people of Kotido and the surrounding areas to take advantage of bank
products like solar loans, water and kyapa loans for sustainable development and value
enhancement.

PostBank has been serving Karamoja region since 2008, hitherto serving the community
using mobile banking vehicles. These will continue as it enables the bank to reach deeper
locations which otherwise would be costly for these customers to travel to Kotido.
Kotido branch establishment was partly funded by Agricultural Business Initiative (aBi).
George Mutagubya, Advocacy and Communications Manager said that aBi Trust support is
aimed at increasing access to financial services to agribusiness actors along the agricultural
value chains as part of aBi’s strategy of deepening and expansion of branches and branchless
delivery mechanisms. In the past aBi has also supported the establishment of other Post Bank
branches across the country including; Anaka, Nwoya, Nakasongola, and Bweyale branches.
The Board Chairperson PostBank Uganda Ms Grace Bakunda noted that Financial inclusion
is key to poverty reduction and inclusive growth which allows as many Ugandans as possible
to be actively engaged in the growing economy. Uganda is destined to the lower middle
income category of tired economies and Postbank’s presence in Kotido should create
opportunities for the people of Kotido not to be left behind.