Centenary Bank hosts GABV annual meeting

Centenary Bank Uganda achieved a historic milestone by becoming the first African financial institution to host the Global Alliance for Banking on Values (GABV) Annual Meeting.

The event convened over 70 member banks and financial institutions from across the globe, focusing on the theme “Building Resilient Futures: Lessons from Africa and Value-Based Banking.”

This four-day conference underscored the growing significance of values-based banking in addressing pressing global economic, environmental, and social challenges. A key public event on March 11th, titled “Resilience in the Face of Multiple Crises – How Values-Based Banks are Leading the Way,” provided a platform for insightful discussions.

Fabian Kasi, Managing Director of Centenary Bank, emphasized the bank’s unwavering commitment to financial inclusion, sustainable banking, and ethical lending. “Centenary Bank was founded on the principle that banking should be a force for good, empowering individuals and communities towards sustainable prosperity,” Kasi stated. “As Uganda’s largest microfinance bank, serving over 3.26 million customers, with 85% in rural areas, through our extensive network of branches and agents, hosting this meeting demonstrates our dedication to driving financial inclusion and sustainable economic growth across Africa.”

Centenary Bank’s value-based approach integrates financial empowerment with ethical practices, exemplified by:

• A substantial loan portfolio supporting micro, small, and medium enterprises (MSMEs).
• Significant agricultural financing, benefiting a sector vital to Uganda’s economy.
• Investment in digital banking solutions, expanding access to underserved communities.
• Annual corporate social responsibility (CSR) contributions, funding projects in key sectors.

Dr. Mamphela Ramphele, Co-President of the Club of Rome and former Managing Director at the World Bank, delivered a keynote address highlighting the crucial role of ethical banking in building resilient economies. “Financial institutions must transcend profit-driven models and embrace practices that prioritize social impact and long-term sustainability,” she asserted. “Africa offers valuable lessons in resilience, innovation, and community-driven financial models.”

Dr. Ramphele further emphasized the urgency of redefining banking systems to prioritize social and environmental impact, stating “The world is facing multiple crises, from climate change to economic inequality. Banks have a responsibility to lead the way in building a financial ecosystem that serves humanity and our planet. Africa, with its deep-rooted traditions of community and sustainability, has much to teach the world about resilient banking.”

Bob Bonabo Munene, Assistant Commissioner at the Ministry of Finance, Planning and Economic Development, reiterated Uganda’s commitment to sustainable economic transformation. He emphasized the government’s focus on inclusive growth and the vital role of values-based banking in achieving national development goals.

The GABV Annual Meeting facilitated discussions on innovative financial solutions, cross-border collaborations, and strategies for embedding values-based banking principles into mainstream finance. Participants shared insights and explored approaches to address global challenges.

The event was supported by various sponsors, including Platinum Sponsors Pebbu, NBS, and the Africa Guarantee Fund (AGF), as well as Gold and Silver Sponsors from diverse sectors.