By Sumayiya Namutebi
Centenary Group, the parent company to the largest commercial microfinance bank in Uganda, Centenary Bank, has today celebrated its 40th anniversary with a lavish event to commemorate its four-decade impact on the Ugandan financial sector.
Having transformed from a small credit trust in 1983, Centenary Group stands as one of the few financial giants in Uganda that has successfully navigated the unpredictable financial landscape to reach its 40th birthday.
While officially opening the celebration, Fabian Kasi the Managing Director Centenary Bank highlighted the Group’s positioning for both their customers and staff countrywide.
“Our celebration carries a profound theme: “With You for Life.” It reflects our dedication to being a lifelong partner in our customers’ financial journeys, adapting to the changing environment and being there for them in all circumstances.” Fabian Kasi.
While highlighting Centenary Bank’s various milestones, Fabian Kasi noted, “Forty years ago, it was only by brick and mortar that we used to serve our customers, 19years later, in 2002 we launched our first ATM and right now we have 206 of them countrywide, 29 years later in 2012, we launched our mobile banking platform – CenteMobile, to which over one million customers are connected.
Several services have been added to it to make banking more convenient. These include pulling your money from bank to wallet and from wallet to bank, loans on phone, including account opening on phone using Centexpress and CenteOnTheGo, 34 years later in 2017 we brought the bank even closer to the customer using agent banking. Today, the public can make several transactions from their neighborhood, for example customers of other banks can bank using our agents and so can ours through other bank agents, people can send money without an account with us. Currently we have over 7,300 active agents and 48% of customer transactions are through the agent channel.
Centenary Group’s mandate for financial and social inclusion led the institution to work with largely unbanked categories majorly the women, refugees and youth.
The Centenary Group Chairman Prof Ddumba Ssentamu emphasized that Centenary Group at the core is what it is because of its customers who were the reason CERUDEB was incorporated.
“Our customers have been the driving force behind our interventions and success. They are at the center of our purpose, and their welfare remains our top priority. I would like to make this commitment to you that we are with you for life.” Ssentamu noted.
Michael Atingi-Ego, the Deputy Governor of the Bank of Uganda, in his keynote speech acknowledged the bank’s significant milestones and its contributions to the financial sector and the economy over the past four decades.
“Centenary Group’s role in promoting financial stability, fostering economic growth, and providing valuable services to the community is the reason it is celebrating 40 years today,” Atingi-Ego said.
“I would like to thank Centenary Group for its resilience, adaptability, and commitment to maintaining high standards of professionalism and integrity in the financial industry.” Atingi – Ego noted.
The celebration served as the climax to a series of commemorative events, campaigns, and initiatives aimed at expressing gratitude to its customers, partners, and stakeholders who have been integral to Centenary Group’s success in its 40 years of existence.
Centenary Bank is the leading commercial microfinance Bank in Uganda, with 79 branches, 204 ATMs and over 7,400 agents across the country. The Bank serves over 2.5 million customers, which is a quarter of the total banking population in Uganda. Its mission is “To transform lives through inclusive sustainable financial solutions, especially in rural areas.”