Financial institutions have been challenged to promote financial inclusion by targeting the population that was previously not targeted by the commercial banking sector.
The call was made by various speakers at an event where Opportunity Bank was celebrating 30 years of existence at Mestil Hotel in Kampala recently.
Prof Augustus Nuwagaba the deputy governor Bank of Uganda commended Opportunity Bank for being a champion of inclusive finance and for its strong track record in supporting underserved communities.
“Un like in the past where commercial banks were detached from the local people, am happy that today some banks are coming to help the formally un banked population,” he noted.
He thus called for the support to financial inclusion by helping the formally neglected communities access banking services that are affordable.
According to him, the bank’s achievements over the past three decades provide a model for how financial institutions can balance profitability with social and environmental impact.
Over its 30 years of existence, Opportunity Bank has built a solid reputation as a people-centered institution. Today, it supports more than 19,000 refugees, 21,000 smallholder farmers, 40,000 persons with disabilities, and provides financing to over 1,510 schools across Uganda. Beyond its customer base, the bank maintains savings deposits worth sh 175b and a loan portfolio of sh 165b, underlining its resilience and growth.
Through bancassurance partnerships with 10 leading insurance providers, the bank has expanded its services to offer affordable and reliable insurance solutions. These products provide families and small businesses with a safety net against shocks, thereby securing brighter and more stable futures.
Digital transformation has also been at the core of Opportunity Bank’s growth strategy. With 520 agent bankers, the Opportunity Mobile App, and internet banking launched in 2022 the bank has significantly expanded access to financial services, especially for rural communities. Customers can now carry out secure and convenient transactions, including instant interbank transfers, without needing to travel long distances to physical branches.
“I congratulate Opportunity Bank for its contribution to financial inclusion, SME growth, and social transformation. The bank has truly supported Uganda’s development journey,” Prof. Nuwagaba remarked, before stressing that every bank must align its strategies with environmental sustainability.
The Deputy Governor further appealed to financial institutions to foster collaboration instead of engaging in unhealthy competition.
“Do not fight one another; the financial space in Uganda is wide enough for everyone. If each institution focuses on its strengths and serves its clients effectively, the sector as a whole will thrive and contribute meaningfully to national growth,” he advised.
Speaking at the anniversary dinner, Owen Amanya, Chief Executive Officer of Opportunity Bank Uganda, emphasized that the institution’s mission is deeply intertwined with the lives of the communities it serves.
“We are not just commemorating 30 years of banking, we are celebrating 30 years of changing stories,” Amanya said. “From refugees rebuilding their lives to women leading small businesses, from rural schools to persons with disabilities, we exist for the people who have been told ‘no’ too many times. We are proud to be their ‘yes’.”
He added: “Our story is one of people, not profits. As we look to the future, we remain committed to being a force for good in Uganda’s financial sector, offering not just services, but partnership, respect, and hope.”
For many clients, Opportunity Bank has been more than a financial institution; it has been a lifeline. One such beneficiary, Evans Senabulya, founder and director of Ridgeway Schools, shared his experience with the Bank.
“At a time when no other bank could believe in us, Opportunity Bank stepped in,” Senabulya revealed.
