Mbale — In a bid to enhance its market presence and improve financial inclusion, Centenary Group is poised to scale up its financial services with the launch of the Centenary Unit Trust Scheme.
The Centenary Group Board Chairman, Prof John Ddumba-Ssentamu, said, during the opening of the new Centenary Group House in Mbale city at the weekend, that the scheme under Centenary Investments Limited will allow Ugandans to invest collectively and grow their savings.
“And soon we will be launching the Centenary Unit Trust Scheme – a financial service that will allow Ugandans to invest collectively and grow their savings,” Prof Ddumba-Ssentamu said.
The state-of-the-art multi-purpose six-storeyed commercial complex, so far the tallest and magnificent building in Mbale city that will serve as the new home for the Centenary Bank Mbale branch, was blessed and opened by Rev. Dr Emmanual Obbo, the Archbishop of Tororo Catholic Diocese.
The complex will also offer premium office space to government agencies, private enterprises and development organisations.
Prof Ddumba-Ssentamu said the unveiling of the magnificent building was part of a reaffirmation of the Group’s commitment to financial, technological and social transformation. “This is a strategic milestone in our expansion, allowing us to serve our customers better, respond more effectively to regional needs and strengthen our presence,” he said, adding that this also reflects Centenary Group’s strategic vision to build institutions that empower communities.
“To further expand opportunities for financial inclusion and drive Uganda’s sustainable growth for generations to come,” Prof Ddumba-Ssentamu said.
The new building, hailed as spacious, modern, and designed to improve service delivery, is expected to enhance the banking experience for customers with faster transactions, reduced congestion, and advanced digital and self-service facilities.
Centenary Bank, which is a member of Centenary Group, was founded in 1983 with a mission to transform lives through inclusive and innovative financial solutions, especially in rural areas. The bank is currently the second-largest bank in Uganda and the largest microfinance bank in Africa.
It currently serves over 3.5 million customers with an asset base of over 8 trillion Uganda shillings and has one of the biggest branch networks with 82 branches and 209 Automated Teller Machines (ATMs). It also has over 8,000 agents and about 1 million people connected on its mobile platform.
Mr Fabian Kasi, the managing director and chief executive officer of the Centenary Bank, said the Mbale branch holds a special place in this growth story of the bank since it was opened in 1998.
“It has since grown to become one of the most vibrant branches in this region, and today, over 149 agents of Centenary Bank operate under this branch, bringing financial services close to every community member,” he said.
In his address, Mr Gustavio Bwoch, Chairman of the Centenary Bank Board, spoke passionately about the new facility, describing it as the epicentre of Centenary Bank’s spirit and service. He reflected on the Bank’s founding belief that every Ugandan deserves access to affordable and reliable financial services; a conviction that continues to guide its growth and transformation.
Mr Bwoch noted that Centenary Bank has remained steadfast in uplifting the standards of all its branches, transforming them into dignified, welcoming spaces where customers can truly enjoy their banking experience.
Archbishop Rev. Dr Obbo said the new building is a symbol of growth, stability and hope for the people of Mbale and the eastern region.“This is a place where value meets enterprise. I hope that the building becomes a centre of service and social economic transformation for the communities in eastern Uganda,’ he said.
He further said development is not only measured in profits and buildings, but also in the impact on livelihood. “How many lives are uplifted and how faithfully we serve the common good is important,” Rev. Obbo said.
His Highness, the cultural head of Bamasaba Cultural Institution, Mr Mike Jude Mudoma, said Centenary Bank has helped the local communities to grow. “This bank will be crucial in bridging the gap in the banking sector when we lost Uganda Commercial Bank and Cooperative Bank because it was a native bank, and I’m very happy that its presence is spread across the country,” he said.
He applauded the government for fostering a secure and conducive business environment essential for investments in the country.
