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Promoting financial inclusion is fundamental to achieving sustainable economic growth across Uganda. Put simply, financial inclusion means ensuring access to bank accounts for everyone who needs one.
A major Stanbic Bank’s role is to ensure that we help drive this inclusion all the way to the last mile and enable every individual to have access to affordable financial services. Cutting down on unnecessary travel and reducing the time spent in the banking hall are some of the last mile challenges we have steadily overcome with the introduction of digital platforms.
The importance behind meeting users needs and to deliver with dignity to clients, in a responsible, convenient and in a sustainable way is foremost. In the years gone by, it was considered something of a status symbol to say you have a bank account. Not any longer; today it is the basis of upward mobility and yet according to the World Bank, half of the world’s adult population does not have access to basic financial services. Nearly 80% of Ugandans are financially included with the mobile phone being the main driver of growth during the past decade.
Having a bank account increases your options when making important decisions concerning your personal finances. True, your mobile money account is handy for completing many day-to-day transactions. However, there are limits to what you can do with it, especially when it comes to long term investment plans or actually storing your money in a secure place.
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