Centenary Group has signed a memorandum of understanding with MicroPay Limited in a move aimed at expanding digital financial services, improving customer convenience and deepening financial inclusion in Uganda.
The partnership, signed through Centenary subsidiary CenteTech, is expected to build on an existing relationship between MicroPay and Centenary Bank, particularly in agency banking, while opening up new opportunities for technology-driven financial solutions.
Centenary Group officials said the deal reflects the group’s strategy of using innovation and strategic partnerships to serve customers beyond the traditional branch model.
Speaking at the signing ceremony, a Centenary Bank Board Chairman Prof. John Ddumba Ssentamu said the partnership would help the group deliver its mission of transforming lives through financial inclusion and effective business solutions.
“Our mission as Centenary Group is to transform the lives of people and promote environmental conservation through financial inclusion and effective business solutions to create sustainable shareholder value,” he said.
He added that the group recognised the importance of working with partners that bring specialised expertise and digital capabilities.
“Through this partnership, we look forward to building competencies that will simplify payments, enhance customer experience and expand access to secure and convenient financial services for individuals, businesses and communities across the country,” he said.
Centenary Bank said the partnership comes at a time when financial institutions are increasingly turning to alternative delivery channels to reach more customers and improve service efficiency.
The bank’s executive director for business said agency banking had become a key part of its growth strategy.
He said Centenary Bank currently has about 9,000 agents compared with 81 branches, with about 51% of all transactions now taking place through agents.
“As the bank grows to serve its customers, it cannot continuously build premises to serve its customers. Agency banking is one of the channels through which we are able to reach our customers countrywide without necessarily having a branch there,” he said.
He added that customers can access services such as deposits, withdrawals, bill payments and even initiate loan applications through the agent network.
The bank said the model was helping it expand its footprint while reducing the need for customers to travel long distances to access financial services.
For MicroPay, the agreement offers an opportunity to scale its digital payments capabilities within the wider Centenary ecosystem.
Dr Jennifer Aduwo, board chairperson, MicroPay said the partnership was more than a commercial arrangement, describing it as a strategic alliance built on shared ambitions.
“What began as collaboration between institutions has matured into a strategic alliance that positions both organisations to create greater value for customers and to contribute meaningfully to Uganda’s digital future,” Aduwo said.
She said the two organisations would combine MicroPay’s digital payments expertise with Centenary Group’s financial services network to develop secure, reliable and customer-focused solutions.
Aduwo said the partnership would also contribute to financial inclusion, digital transformation and economic empowerment.
“Every secure transaction, every innovative digital solution, every customer served efficiently, brings us one step closer to a more inclusive and digitally empowered Uganda,” she said.
The deal comes as Uganda’s financial sector continues to expand through mobile money, agency banking and other digital services, though access remains uneven in rural and underserved communities.
Centenary Group officials said the partnership could also support future services from other subsidiaries, including insurance and investment, as the group broadens its financial services ecosystem.
The two organisations said the success of the partnership will depend on trust, transparency and effective execution, with both sides expressing confidence that the agreement will improve customer experience and support Uganda’s digital economy.
Leave a Reply