Wednesday
July 29
2020

COVID-19 Triggers Decline in Agent Banking in Uganda

By Christine Kaemiire

Agent banking was launched in 2018 to ease access to financial services and enhancing financial inclusion.
Since its launch, the mobile banking innovation is one of the most used financial platforms in Uganda besides mobile money.

In March this year, it was revealed that the amount of money transacted through agent banking stood at Shs2.2 trillion per month, according to Uganda Bankers Association (UBA).
However, the economic effects of Covid-19 pandemic have significantly affected the innovation, which has resulted into reduced transactions.

Photo courtesy of USAID

Source: Daily Monitor (link opens in a new window)

Categories
Coronavirus, Finance
Tags
banking, coronavirus, financial inclusion, financial services, innovation, mobile money