dfcu Bank Recognized for its Investment Club App at the Qorus Reinvention Awards MEA 2024

At the prestigious Qorus Reinvention Awards – MEA 2024 in Dubai, dfcu Bank was recognized for its groundbreaking approach to digital finance. Among nearly 700 global entries, dfcu Bank emerged as a winner, taking home Gold in the Distribution award category for its Investment Club App.

This pioneering platform empowers the Bank’s fast-growing network of over 135,000 investment and savings clubs by facilitating real-time management of contributions, loans, collections, and returns, and has already seen over 10,000 downloads. The app reflects dfcu Bank’s mission to foster financial inclusion and literacy in Uganda, promoting sound financial practices and strengthening communities.

Commenting on the accolade, Jude Kansiime, Head of Customer Relations at dfcu Bank, said, “As a pioneer in supporting Uganda’s investment club culture, dfcu Bank is dedicated to empowering communities with modern and reliable products to help them achieve their financial goals. Winning this award is a testament to our unwavering commitment to serve, guide, and support our customers. We celebrate this recognition with our customers and stakeholders and look forward to achieving even greater milestones together.”

Held annually, the Qorus Reinvention Awards recognize transformative achievements in financial services across the Middle East and Africa. This year’s event brought together industry leaders to celebrate advances in digital transformation, customer experience, and community impact. Stewart Lockie, Regional Director for Qorus in the MEA region, remarked, “These awards highlight the forward-thinking spirit of financial institutions across these regions. By showcasing stories of ingenuity, we aim to inspire and foster continued transformation within the industry.”

Applicants to Qorus’s long-running Banking Innovation Awards and Innovation in Insurance Awards automatically qualify for acknowledgment in this prestigious regional award program that shines the spotlight on the best ideas and practices transforming the financial services industry in the Middle East and Africa. This year programs collectively attracted some 700 entries by leading banks and insurers across the globe.

dfcu was established in 1964 as a development finance institution. Over the years dfcu has been associated with many success stories in Uganda’s economy in various sectors including agribusiness, communication, education, health, manufacturing, tourism, real estate, mining, construction, transport, trade and commerce, among others.

Key Milestones

1999: Bought Uganda Leasing Company, renamed it dfcu Leasing.

2000: Bought Global Trust Bank, renamed it dfcu Bank, and started commercial banking.

2004: dfcu Limited was listed on the Uganda Securities Exchange.

2008: Merged its two businesses (Development Finance and dfcu Bank) to create a “one-stop shop “under dfcu Bank.

2013: Realignment of shareholders bringing on board a strategic partner – Rabobank, with significant experience in

         agribusiness

2014: Consolidated business operations into our Head Office – dfcu Towers.

2014: dfcu Bank acquired some assets and took over some liabilities of Global Trust Bank (In Liquidation)

2016: Aligned shareholding with Rabobank, Norfund and FMO combining to form Arise which is committed to

          strengthening and developing effective, inclusive financial systems in Africa with a long-term perspective.

2017: Acquisition of certain assets and assumptions of some liabilities of Crane Bank Limited (In Receivership).