- Finance Trust Bank serves the unbanked and underbanked populations in Uganda.
- The bank focuses on affordable financial services, mobile banking, and financial literacy.
Finance Trust Bank: Strengthening financial inclusion in Uganda
Finance Trust Bank Limited (FTB) is a prominent player in Uganda’s banking sector, dedicated to providing accessible and affordable banking services to Uganda’s unbanked and underbanked populations. Located at Plot 121 & 115, Block 6, Katwe, FTB has earned a reputation for focusing on small businesses, women, and rural communities that have been traditionally excluded from formal financial systems.
The bank was established with a clear mandate: to bridge the gap in financial inclusion and serve individuals and small businesses with products designed to meet their unique needs. These include savings and loans, mobile banking services, and microfinance products aimed at improving access to capital for the underserved.
Also read: HLISB and GoBarakah launch digital social financing ecosystem
Also read: Agent Banking Company: Empowering financial inclusion
Addressing the challenges of financial inclusion
Uganda has made significant strides in financial inclusion over the years, but a large portion of the population still lacks access to banking services. According to the Bank of Uganda, nearly 50% of Ugandans remain unbanked. This situation is even more pronounced in rural areas where traditional banks are often inaccessible due to distance, cost, and lack of financial literacy.
Finance Trust Bank has taken a proactive approach to overcome these barriers. The bank focuses on mobile banking solutions, enabling customers to access banking services using their mobile phones. This innovation has been particularly impactful in rural areas, where mobile phone usage is widespread but physical bank branches are scarce.
The bank also offers financial literacy programs aimed at equipping individuals with the knowledge needed to manage their finances and make informed decisions. By providing education alongside financial products, FTB ensures that customers are not only able to access banking services but also understand how to use them effectively.
