BANKING & FINANCE: PostBank Uganda Limited has opened its newest branch in Mukono District as the bank continues to expand footprint coverage allover Uganda.
Speaking during the opening on Thursday, Julius Kakeeto, the Managing Director, said, “I am extremely delighted to present to you the newest addition to the PostBank family. Mukono is a hub of economic activity and through this branch, we are now able to bring affordable and community banking services closer to the people of the greater Mukono area.”
Kakeeto also introduced the bank’s new Board Chairman, Andrew Otenga Owiny who joins with a wealth of experience sitting and chairing boards of both local and international companies.
Otenga has served on numerous other boards across Africa. From aBi Finance Limited, G4S Secure Solutions (Uganda) Limited, CAL Merchant Bank Limited (now Cal Bank Limited) in Accra, Ghana; National Merchant Bank of Zimbabwe Limited (‘NMBZ’) in Harare, Zimbabwe, to Securities Discount Company Limited (‘SDC’) in Accra, Ghana.
He has also served on the board of the Uganda Securities Exchange (USE), National Social Security Fund (‘NSSF’), Uganda Stock Brokers Association (‘USBA’), Rugby Union to mention but a few.
Situated on the Kampala- Jinja Highway, Mukono district is a hub of economic activity, with 80% of the activity is agriculturally based.
The Director Non-Banking Financial Institutions (NBFI) at Bank of Uganda Mr. Ivan Amagaragariho commended PostBank for its efforts towards bringing financial services closer to the masses and pledged the Central Bank’s support towards ensuring a more robust banking industry and stable economy.
PostBank Uganda (PBU) is a public company limited by shares and formed under the Public Enterprises.
Reform and Divestiture Statute of 1983 and the Uganda Communications Act, 1997. It was incorporated under the Companies Act in 1998 and is owned by the Government of Uganda with 100% shareholding.
The bank has since grown to 47 branches countrywide, stretching from Yumbe to Kabale, from Kotido to Masaka, and over 300 Post Agents. It has branches, mobile vans, and contact centers in Amolatar, Anaka, Arua, Bombo, Bugolobi, Bukedea, Bweyale, City Branch, Entebbe, Fort Portal, Gulu Hoima, Iganga, Jinja, Kabale, Bishop Stuart, Kakiri. Kampala Rd, Kamwenge, Kanungu, Kapchorwa, Kasese, Kayunga, Kitgum, Kotido, Kyazanga, Lacor, Lira, Makerere, Masaka, Masindi, Mbale, Mbarara, Moroto, Mubende, Mukono, Nakasongola, Ndeeba, Ntungamo, Pakwach, Soroti, Usafi, Wandegeya, Wiliam Street, Yumbe, Kagadi, Butogota, Kamdin, Rushere, Ishaka, Kihihi and Manafwa