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Urwego bolsters financial inclusion, ATMs now accept international cards



Rwanda’s Vision 2020, which is the country’s blue print to achieving middle income status, is largely based on developing a service led economy.

And true to the vision, the country has made significant strides towards reforming its services sector to ensure that timely, convenient and cost effective services are rendered to the population.

In this quest for quality, electronic service delivery has been turned to.

The banking sector has taken lead in embracing electronic service delivery with Urwego Opportunity Bank (Urwego) coming among leading financial inclusion champions through use of technological initiatives.

The latest addition in this trend has been the acceptance of Visa and China Union Pay cards on all Urwego’s automated teller Machines (ATMs) across the country, a move expected to bolster financial inclusion and improve the quality of services significantly.

This means that at Urwego’s ever growing number of ATMs across the country, a customer can easily use their China Union Pay or Visa Card be it for local or international banks and withdraw, deposit or check account balances.

Automating Teller services and acceptance of international cards is seen by foreign visitors in Rwanda as a great business development and a value addition to the country’s attractiveness.

According to Arthur Mackossot, a Canadian visiting Rwanda, being able to access his account at any time is a great boost to Rwanda’s hospitality.

“As a Canadian, automated services are the day to day mode of transacting and truer for financial sector. Being able to enjoy a similar lifestyle in Rwanda not only makes the country more attractive but also for a visitor; it makes me feel at home.”

According to Shami Mugisha the Marketing Director at Urwego, the bank’s investment in electronic services will continue in a bid to ensure more people are included into the formal financial sector.

“We are very pleased with the progress of moving cash-based transactions to electronic currency and the acceptance Visa and China Union Pay cards on our ATMs.

To our customers, one can only say this is bound to grow, we will continue to invest in developing our electronic services.”

Currently there are 18 Urwego branded ATMs across the country, but as management shares, the network can only grow bigger.

In a recent interview with this magazine, the Chief Executive Officer of Urwego Mr. Tineyi Mawocha shared that the bank will continue innovating just as customer needs evolve.

“Our approach to banking is entirely based on understanding the customers’ needs and doing all in our power to satisfy them by being very close,” he shared.

Besides automation of teller services and the acceptance of international cards on its ATMs, Urwego has in the recent past taken electronic financial services to a higher ground with breakthrough initiatives such as the first mobile phone based bank savings account.

The account branded Tigo Sugira is a brainchild of the bank’s partnership with one of Rwanda’s leading telecommunications companies, Tigo.

With the Sugira, a Tigocash mobile money customer can create the account using their mobile phone, and by so doing join the formal financial services sector.

With developments such as the acceptance of International cards on its ATMs and initiatives to attract more people into the formal financial sector, Rwanda’s leading hybrid bank continues to lead the way in making financial services convenient and people-centred.


About Urwego Opportunity Bank

At Urwego Opportunity Bank, the bank for all, we support commercial activities- increase working capital, business growth and profitability with flexible terms of repayment based on your business’ cash-flow.

We provide effective value-for-money financing programs to our clients.

Our loan products include; Community Banking Loans, New Solidarity Group Loans, Micro Business Loans, Salary Loans, Motorcycle Loans, Specialty Loans, Micro Leasing, Agricultural Loans, Shelter Financing, Individual School Fee Loans, College Tuition Loans and School Improvement Loans.

Our savings products on the other hand include, the Group Savings Account, Teganya Savings Account, Deposit Contract Account, Ikaze Account and Children’s Savings Account. These products add on to our exciting range of products and services.

Please feel free to contact us on our toll free number 5151 if you need any further information or visit our nearest branch.

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