Africa-Press – Uganda. Interswitch Uganda has partnered with Centenary Bank to expand financial service access to more than 3 million customers through the Quickteller agent network.
The partnership connects Centenary Bank’s 82 branches, 209 ATMs, and over 8,000 agents with more than 20,000 Quickteller agent locations across the country.
The collaboration enables Centenary customers to perform key banking transactions—including deposits, withdrawals, and account opening—beyond traditional banking hours and closer to their communities.
“In Uganda today, the customer demands reliability, comfort, and security. This partnership delivers all three,” said Moris Seguya, country general manager at Interswitch Uganda.
“It reflects our shared commitment to delivering seamless digital and physical financial solutions that respond to evolving customer needs.”
Centenary Bank Managing Director Fabian Kasi hailed the partnership as a major step in deepening financial inclusion in Uganda.
“We partner with like-minded institutions that share our vision. Interswitch is one of them—and this collaboration proves that,” said Kasi.
“Banking has just gotten easier. Together, we are building a more connected, accessible financial system for Uganda.”
Customers can now visit any Quickteller agent near them for safe, convenient banking services—at any time.
Looking ahead, Kasi said Centenary Bank will continue to seek out innovative partnerships that extend banking access to underserved communities.
The partnership comes amid a surge in digital financial activity. According to Bank of Uganda, mobile money users rose from 1.9 million in September 2023 to 2.4 million by December 2023—a 24.9% increase.
Transaction volumes jumped from 1.6 billion to 1.7 billion, representing a total value of Shs62.2 trillion.
By March 2024, Uganda was recording over 612 million mobile money transactions annually, with the total value hitting Shs21.6 trillion.
Digital payments are driving a shift toward a cashless economy, with 80% of mobile transactions occurring in the informal sector—albeit mostly in low-value volumes.
In the formal banking sector, debit card payments reached Shs581 billion in Q4 2023. Forecasts predict that mobile point-of-sale (POS) payments in Uganda will grow by 24.8% annually, reaching $3.14 billion by 2025.
“By expanding access points via Quickteller agents, we aim to reduce cash dependency and close service gaps—especially in rural and underbanked regions,” Seguya noted.
With over 75% of digital transactions still happening via USSD on feature phones, the Quickteller–Centenary Bank partnership stands as a strategic move toward broader, inclusive financial access across Uganda.
For More News And Analysis About Uganda Follow Africa-Press
