Equity Bank Unveils Patriko As Brand Ambassador, Eyes 5 Million Clients

By Aloysious Kasoma

Equity Bank Uganda has unveiled city comedian and actor cum radio presenter Patriko Mujuuka as brand Ambassador.

Addressing the press at the Bank’s Supreme branch along Buganda road in Kampala on Wednesday, Anthony Kituuka, the Equity Bank Uganda Executive Director, said that Mujuuka appeals to all types of classes from students to the corporates.  He added that Mujuuka was chosen after reviewing over 18 candidates.

“We spent a lot of time looking at people that can communicate to Ugandans what exactly Equity Bank is about and finally we zeroed on Patriko Mujuuka, who has a strong brand. During our long-term partnership with him, he is going to help us to reach out to his audiences; he can cut across the range of our potential customers including; lawyers, farmers and students among others,” Kituuka said.

He added: “We have already taken him to Nairobi to get knowledge about the group. At Equity Bank, we remain creative and innovative.”

Mujuuka, who will be representing Equity Bank in its various communications, said he was honored that Equity Bank chose him to represent them as brand ambassador.

“Equity bank is a big brand and it’s going to grow bigger and bigger with the new innovations coming in,” he said.

Patriko Mujuuka’s appointment comes a few weeks after Equity Bank launched its range of digital banking solutions into the market in a bid to enhance the banking experience of customers as well as enable them to have more convenience and control of their banking.

As part of the digital banking solutions, the bank introduced the EazzyBanking App, which is intended to make banking easy, convenient and secure for Ugandans.

Kituuka revealed that the bank will reach out to more unbanked Ugandans through agency banking.

About 68% (Over 25 million people) of Ugandans are outside the money economy.

“Before the end of the year, over 1,000 agents will be available,” he told Business Focus at the sidelines of the event.

Speaking at the same event, Samuel Kirubi, the Equity Bank Uganda Managing Director noted that at 12 million, Equity Bank has the biggest number of clients in East Africa and that digital/online banking will see them get more clients.

He said Equity Bank Group is targeting 100 million clients within East Africa in the next five years. In Uganda, Equity Bank is targeting at least five million clients in the next 5 years.

He noted that Uganda has 15 million people with potential to have access to financial services, but they are yet to be tapped into.

“Through the use of agents, the bank will be able more clients,” Kirubi said.

He added that agency banking will reduce the cost of doing business on the side of the bank and clients by 50%.

“Every year we import millions of ATM cards, invest in infrastructure and other resources, but all this will reduce.  The clients also will save time, money and resources when they embrace agency banking,” he explained.

Agency banking, a model  that allows banks to use fellow banks, shops, kiosks and field agents to open accounts, receive deposits, effect withdrawals and carry out other transactions is being embraced world over to deepen financial inclusion.

Under this innovation, financial inclusion is not limited to banking the unbanked but convergence of various bank and non-bank players to provide financial services at lower cost, a wider reach and greater convenience to all end consumers of financial services, unbanked or otherwise.