Powering agent banking in Uganda with ABC
In our digital age, doing basic transactions shouldn’t require a trip to the bank. Uganda’s ABC is making banking more accessible with their Shared Agent Banking System – allowing major banks to connect directly with customers through a network of local agents.
Financial Services
Impact Indicators
21
Employees
22
Ugandan banks using agent banking
15,000
Authorised bank agents
+20,000
Registered accounts
Making banking more accessible via local agents
As with the rest of sub-Saharan Africa, many Ugandans struggle to access basic financial services. Since the launch of their company in 2017, the Agent Banking Company of Uganda (ABC) has been working to improve access to quality and affordable financial services through their shared technology infrastructure.
Why Goodwell invested
ABC’s Shared Agent Banking System aligns well with uMunthu II’s financial inclusion thesis: their technology is making both providing and using financial services easier for everyone in the supply chain. Banks benefit from lower set-up costs, agents are able to expand their offerings, and customers have access to affordable, convenient banking services.
Recent achievements and future ambitions
Since launching the agent banking platform, ABC has onboarded 22 Uganda banks and is working with 15,000 banking agents. In the coming years, the company has ambitious goals for growth, including expanding its client base, increasing agent coverage, and deploying new services.
“Our business was established to address a very real need to expand the reach and improve access to quality and affordable financial services in Uganda. With the introduction of Agent Banking, there has been exponential growth in the number of service points through which consumers can access and use formal financial services offered by over 15,000 authorised bank agents.”
Richard Jabel, CEO of ABC
