17 July 2014

Uganda: Post Bank Expands to Usafi Park

Trade, Industry and Cooperatives Minister Amelia Kyambadde has asked banks to simplify their documentation processes if they are to attract more people to their halls.

Officiating at the opening of Post bank's 34th branch at Usafi park in Kisenyi on Tuesday, Kyambadde said many people continue to shun banking halls because of the difficulty they go through while interpreting forms before they enjoy services.

"You must make your services affordable and accessible to attract more people," said Kyambadde.

She urged traders in Usafi to use the new bank branch to save their money and ask for credit to do business. Post bank Managing Director Stephen Mukweli said the bank was introducing more products to appeal to Ugandans. In particular, Mukweli said, the bank's mobile van had performed extremely well, currently reaching 75 districts in the country. He said they now have eight vehicles reaching out to people in the villages.

The mobile banking van is used to sensitize people in villages about banking and perhaps help them open up accounts. Post bank has 34 branches countrywide with 299 ATMs, thanks to their connection to Interswitch.

Meanwhile, Kyambadde has advised Ugandan traders and entrepreneurs against individualism, saying it was a reason some of them were failing to breakeven in their businesses. Kyambadde said working together would help people to mobilise more resources and improve productivity.

"Don't neglect those Saccos; there are some which are successful. Let them be your way to the bank. Don't work individually. You want others to trade and mobilise," said Kyambadde.

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