Centenary Bank opens 81st branch to boost financial inclusion in Agago

KALONGO, Uganda — Centenary Bank has opened its 81st branch nationwide in Agago District, anchoring its expansion on a strategy to deepen financial inclusion and rural banking access in northern Uganda.

The new branch, located in Kalongo Town Council, extends the institution’s network to 13 branches within the northern region. The expansion targets a regional population of more than 300,000 people, the majority of whom rely on agriculture and micro-enterprises but have historically lacked access to formal banking channels.

Centenary Bank Managing Director Fabian Kasi said the investment is designed to lower barriers to commercial banking, reduce travel distances for rural depositors and stimulate grassroots economic development.

“Kalongo and the wider northern region are home to hardworking farmers, entrepreneurs, traders and small businesses that contribute significantly to Uganda’s economy,” Kasi said. “Access to financial services is critical in supporting their ambitions and strengthening livelihoods.”

Prior to its formal launch, the branch underwent a pilot phase starting June 30, 2025, to test the market’s demand for formal financial services. During that period, the branch onboarded nearly 4,000 customers and 11 banking agents, mobilizing more than 1.4 billion Ugandan shillings in deposits and disbursing more than 2.4 billion shillings in credit.

The branch offers specialized agricultural financing, digital banking platforms, financial literacy training and dedicated support for local savings and credit cooperative organizations, which serve as critical financial vehicles for rural communities.

The bank executives stated the financial institution aims to transition cash-reliant households into the formal economy, foster a sustainable savings culture and accelerate digital financial adoption across the region.