President Yoweri Museveni on Saturday commissioned Centenary Bank Branch in Kisoro Municipality, South Western Uganda, spicing up the function with a Shs200 million donation.
In a brief speech, Museveni, who was accompanied by among others, Prime Minister, Dr. Ruhakana Rugunda, Inspector General of Police, General Kale Kayihura and State Minister for Water, Ronald Kibuule, congratulated the Catholic Church for the project, saying it would improve on development in the area.
Speaking at the function, Rev. Fr. John Bazimenyera, the Kisoro Parish Priest, commended Museveni for the peace in the country and creating enabling policies and environment for businesses to prosper.
The Centenary Bank General Manager in charge of operations, Joseph Kimbowa, said that the bank is committed to improving the livelihoods of the people of Kisoro in a sustainable manner and in accordance with the law.
“The results of the 2015 Bank of Uganda Financial survey indicate that there has not been a significant growth in the percentage of banked population; it has remained stagnant with the percentage ranging between 18 – 21 per cent. With this statistic in mind, Centenary Bank is diligently playing its part to increase the percentage of banked Ugandans,” he said.
The Bank’s branch in Kisoro opened in 2012, and currently serves over 8,000 customers with over 1000 borrowers.
The Centenary Rural Development Bank, an initiative of the Uganda National Lay Apostolate in 1983, started as a credit trust and it began operations in 1985 with the main objective of serving the rural poor and contributing to the overall economic development of the country.
In 1993, Centenary Rural Development Bank Ltd was registered as a full service commercial bank and today is the leading commercial bank in Uganda serving over 1.4 million customers.