Uganda’s Central Bank’s Director for Supervision has praised Opportunity Bank’s sophisticated technology saying it will give clients a ‘user friendly’ experience.
Dr. Tumubweine Twinemanzi made these remarks on Friday as bank announced a new brand and officially introduced a New and improved Head Office.
He also revealed that increased confidence in banking benefits will see the move of the ‘unbanked funds’ from under the mattress to commercial banks. Opportunity Bank’s new branding further enables the bank to stand out, not only within the expansive financial sector industry, but also within the ever-growing mobile money banking sector technology ecosystem.
“Small business owners will enjoy the ease-of-use of Opportunity Bank’s sophisticated technology, along with the human touch that is delivered through superior customer service.,” he said.
Speaking at the launch, Mr. Tineyi Emmanuel Mawocha, Chief Executive Officer of Opportunity Bank said that “There are still many people who are unbanked and have fettered access to loans for developing their businesses.. Being able to provide a strong customer experience while exhibiting our unique brand values and financial solutions can be a key differentiator to enable the local market access to turn-key banking products and services. With our rebranding efforts, Opportunity Bank has been empowered to offer banking solutions and experienced customer support services that SMBs need to grow.”
Opportunity Bank Uganda Limited (OBUL) is a leading Micro Finance Institution in Uganda and is is mainly owned by Mybucks SA a fintech company listed on the Frankfurt Stock Exchange and Opportunity Transformation Inc (OTI) group which focuses on transformation of communities. Other shareholders include Food for the Hungry and Faulu Uganda. OBUL started in 1995 as Faulu Uganda owned by Food for the Hungry International (FHI), in 2006 OTI acquired 63% of the shares which increased to 92% by 2015 and in 2016, Mybucks SA acquired 49% of the shareholding.
“Opportunity Bank’s unique banking platform is able to meet consumer needs in an easy-to-use way for any SME and individual. Opportunity Bank continues to develop its multi-functional platform, helping our local markets grow one business at a time. The innovative banking solutions that a small business owner will need to grow their business is extensive. We knew that a unique approach was needed, and we have moved to tailor our products and services specifically to meet our client’s needs,” Mrs Winnie-Lawoko-Olwe, the acting Board Chairperson said at the function in Kamwokya.
OBUL has 20 branches and 2 service centres spread all over the four regions of Uganda with 68% of the branches in the upcountry towns. We have a foot print in Central Region (Kampala (5), Mukono (2), Wakiso (2)), Eastern Region (Jinja, Iganga, Mayuge, Mbale, Soroti) Northern Region (Lira, Oyam) and Western.
Opportunity Bank Uganda Limited is a Tier 2 financial institution licensed by the Bank of Uganda to offer savings, training, remittances and loan products to its customers across the country. Established in 1995 as Faulu Uganda and acquired by Opportunity International in 2006, the Bank has evolved from a Tier 3 Micro Finance Institution to a Tier 2 Micro Finance and Deposit Taking Institution over the years.