Uganda: Scaling up remittances and financial inclusion through rural post offices

Uganda: Scaling up remittances and financial inclusion through rural post offices

IFAD partnered with PostBank Uganda to leverage Posta Uganda’s broad network of rural post offices and expand access to financial services in rural areas. Post offices were equipped with digital and mobile technologies for remittance delivery and financial service transactions, and postal staff received specialized training. The project supported the refinement of PostBank Diaspora Account, waiving charges on Incoming Swift Transfers, withdrawals and removal of monthly fees. A Refugee Transactional Account was also launched, facilitating access to a flexible account suitable for refugee individualized banking, with competitive interest, affordable international transfers and no monthly charges.

Kasozi, farmer, and Wilfred, student, share their experiences:

What have been the results so far?

  • Over 17,000 diaspora accounts opened
  • Almost 28, 000 Refugee Transactional Accounts were opened, holding a total sum of Ugx 319,688,500.
  • 20 rural post offices were refurbished; within 3 months the bank agency services grew from 0 to more than 9,000 transactions per month for e-wallet, card, and savings accounts.
  • 350 agents have been recruited across the country as another avenue of supporting financial inclusion in the rural communities.