Agent banking strategy in Uganda

• Nov 5, 2018
• 1 min

MSC developed and implemented agent banking strategies for three leading banks in Uganda—Stanbic Bank, Centenary Bank, and DFCU. MSC’s intervention increased the financial services outreach of the banks to the untapped remote areas of Uganda. Our support helped these institutions process a cumulative 2.9 million transactions with a value of UGX 1.4 trillion (USD 400 million). More than 2,600 agents had registered on the agent channel, serving thousands of customers as at the end of 2018.

MSC developed and implemented agent banking strategies for three leading banks in Uganda—Stanbic Bank, Centenary Bank, and DFCU. This intervention increased the financial services outreach of the banks to the untapped remote areas of Uganda. MSC provided technical assistance support to design the strategy and business case, channel development and implementation, and agent network development and management. The MSC team also worked on marketing and communications, behavioral research, pilot testing and evaluation, and the design and implementation of the rollout of agent banking.

MSC’s support helped the institutions to speed up the launch of agent banking with strategic business cases and approval from the Bank of Uganda. At the time of writing, these institutions had realized significant benefits in the 10-month period. By the end of 2018, more than 2,600 agents had registered and thousands of customers had accessed the banking services through the agent channel. The three banks had processed a cumulative 2.9 million transactions with a value of UGX 1.4 trillion (USD 400 million).