The Independent Uganda: You get the Truth we Pay the Price
Why is Equity Bank not using a shared platform for agent banking?
We have the option (to join the shared platform) and the window is open. We have 2,000 agents countrywide and our aim is to have 6,000 by the end of 2019. We are doing transactions in the range of 12,000 – 15,000 at the agents per day yet a single bank branch does half of that. In Kenya, the channels outside the branch conduct 97% of the transactions. In Uganda, we are now doing 20-30% of our transactions outside the bank branches. Our hope is that we shall reach where Kenya is at the moment as Equity Bank in the next three years.
Why haven’t you ventured into bancassurance?
Our focus is to first grow distribution channels –Equiduuka and the branches – before going into bancassurance.
What defines your management ethos?
My management principles are linked to our mission and vision where we believe in professionalism, integrity, creativity and innovation, teamwork, unity of purpose, respect and dignity for our customers.
