Stanbic Bank unveils upgraded Kitgum branch to boost regional economic growth

KITGUM: Stanbic Bank Uganda has unveiled its modernised branch along Market Street, next to Kitgum Main Market, in a move that will offer expanded access to financial services and support economic growth across Northern Uganda.

It was officially opened by Mark Ocitti Ongom, Chief Executive of Stanbic Uganda Holdings Limited (SUHL), alongside Sam Fredrick Mwogeza, Executive Director and Head of Personal and Private Banking at Stanbic Bank Uganda.

The ceremony was also attended by Kitgum area Member of Parliament Oneka Lit Denis Amere, the Bishop of Kitgum Diocese Rev. Kitara, and other dignitaries together with business leaders.

Ocitti described the branch as a demonstration of Stanbic’s confidence in East Acholi’s economic potential and the role local businesses can play in creating jobs, incomes and opportunities.

“This is more than a banking hall. It is a statement of confidence in Kitgum, in Northern Uganda and in the capacity of local enterprise to create incomes, jobs and shared prosperity,” he said.

He said the government’s ambition to grow the economy tenfold would require investment across the country, particularly in productive sectors such as agriculture, manufacturing, trade and value addition.

“The Tenfold Growth Agenda will not be delivered by Kampala alone. It will be built district by district, municipality by municipality, farm by farm and enterprise by enterprise, through productive finance, stronger markets, value addition and employment,” Ocitti said.

The upgraded facility will serve individuals, businesses and entrepreneurs in Kitgum, Lamwo and Agago districts, offering modern banking services designed to improve customer experience and support the region’s growing commercial activities.

The facility features two multi-currency ATM centres, an Executive Banking suite, meeting rooms and modern banking technology.

The investment comes as Stanbic Bank Uganda marks 35 years of operations in the country under its parent company, Standard Bank Group, reaffirming its commitment to expanding financial services beyond major urban centres.

Ocitti said Kitgum’s agricultural activities, trading networks and growing service sector presented opportunities for financial institutions to help local enterprises access capital, improve productivity and reach wider markets.

Mwogeza said the investment in an improved facility aligns with Stanbic’s purpose, “Uganda is our home; we drive her growth,” and the bank’s commitment to supporting the country’s economic transformation.

He said the Kitgum branch would connect customers to the wider Stanbic Uganda ecosystem, including Stanbic Bank Uganda, SBG Securities and the Stanbic Business Incubator.

Through these services, the bank aims to support farmers seeking agricultural financing, traders expanding their businesses, young entrepreneurs developing enterprises and women-led businesses creating employment.

Mwogeza highlighted financial inclusion as a key part of the bank’s Positive Impact Agenda, particularly for women, young people and farmers. Through its branches, agent banking network and digital channels, Stanbic seeks to help customers save, transact and access financial solutions suited to their needs.

The Stanbic Business Incubator complements these services by equipping entrepreneurs with business management, financial planning and market-readiness skills.

Meanwhile, SBG Securities offers investment opportunities through products such as Stanbic Unit Trusts and access to listed securities on the stock exchange.

Oneka Lit Denis Amere welcomed the new development, emphasising the importance of investing in customer services to provide accessible banking and support regional businesses.

“It is very difficult to talk about banking in Uganda without mentioning Stanbic Bank. This is not because of the many branches you have countrywide, but because of the way you treat and serve your customers. I therefore want to thank you for putting customer service first,” he said.

He expressed confidence that businesses in Kitgum and neighbouring districts would benefit from access to modern banking facilities as their operations expand.

Pamela Alwoch, the Kitgum Branch Manager, said the modernisation reflected the bank’s growth alongside communities in Kitgum, Lamwo and Agago.

She said the increasing customer numbers and evolving banking needs had made the upgrade necessary to improve service delivery and maintain competitiveness.

“The Kitgum of 20 years ago is not the Kitgum of today. Customer numbers and needs have improved; that is why we had to improve the quality of services to remain relevant and competitive in the market,” Alwoch said.

The branch is strategically positioned in Kitgum town to serve traders, farmers, entrepreneurs and other customers engaged in the region’s commercial activities.

In Northern Uganda, where agriculture, trade and small businesses remain important sources of livelihoods, access to appropriate financial services can help enterprises manage transactions, explore investment opportunities and expand their operations.