Pride Bank has deepened its presence in southwestern Uganda with the opening of a fully-fledged branch in Kisoro, positioning the lender to tap into the district’s agricultural, tourism and small-business economy.
The bank says the new branch is intended to respond to growing demand for financial services as economic activity expands across Kisoro and neighbouring areas.
Pride Bank began operating in Kisoro on January 21, 2018, initially through an outlet. The growth in its customer base and demand for additional services has now prompted the bank to upgrade the facility into a full branch.
Board Director Peninnah Tibagwa Kasule said the expansion reflects the bank’s confidence in Kisoro’s economic potential.
“The decision to upgrade Kisoro into a fully-fledged branch was therefore both strategic and customer-driven. It reflects our confidence in the economic potential of Kisoro and our determination to provide customers with a complete banking experience closer to where they live and conduct business.”
The branch will provide savings and deposit products, personal and business loans, cash deposits and withdrawals, loan repayments, agency banking and digital banking services.
Customers will also be able to access international money transfers through Western Union, MoneyGram, Ria and Transfast, as well as URA collection services and mobile money deposits.
Accounts can be opened with an initial deposit of Shs10,000, according to the bank.
The bank’s Head of Business, Joseph Fetaa, said the expansion is part of Pride Bank’s wider strategy of combining physical branches with digital and agency banking channels.
“Our vision is to build a strong, inclusive and customer-focused bank that delivers convenient financial solutions wherever our customers live and do business.”
Fetaa said the bank would place particular emphasis on financing community-based organisations, SACCOs and small businesses through its Group Guaranteed Lending Scheme and Community Banking model.
He said these interventions are intended to help communities mobilise savings, increase investment and build sustainable livelihoods.
Agriculture will also be a key focus for the Kisoro branch. The bank plans to finance farmers, cooperatives, agro-processors and agribusinesses involved in production, value addition and market access.
Pride Bank Managing Director Veronicah Gladys Namagembe said the bank sees access to finance as an important tool for transforming households and businesses.
“We exist to create opportunities that transform lives.”
She said the bank would continue supporting individuals, farmers, entrepreneurs, SACCOs, organised community groups and businesses with financial products tailored to their needs.
The new branch is also expected to benefit businesses involved in tourism, transport, trade and other sectors of Kisoro’s economy.
Namagembe said the bank wants the facility to become more than a place for financial transactions.
“May it become a place where businesses are built, dreams are realised, families prosper and hope is restored.”
Kasule said Pride Bank’s expansion would be accompanied by a focus on sound corporate governance, transparency, accountability and responsible leadership.
She said the bank would continue investing in infrastructure, technology and human resources as it expands its presence across Uganda.
The bank has thanked the Bank of Uganda, district authorities, customers, development partners and staff for supporting its growth in Kisoro.
The opening of the branch brings a wider range of formal financial services closer to residents of Kisoro and surrounding communities, while giving Pride Bank a stronger foothold in one of Uganda’s important agricultural and tourism districts.
