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Banking, insurance expo seeks to boost financial inclusion

By Vision Reporter

Added 6th March 2013 04:32 PM

Over 60 firms have confirmed participation in the forthcoming 5th annual Banking, Finance and Insurance Expo whose major focus will be on bolstering financial inclusion to enhance entrepreneurship.

By David Ssempijja
 
Over 60 firms have confirmed participation in the forthcoming 5th annual Banking, Finance and Insurance Expo whose major focus will be on bolstering financial inclusion to enhance entrepreneurship.
 
According to event organisers, a range of exhibitors are expected from the financial services industry, including banks, insurance companies, micro- financial institutions, service providers, regulators and investment advisors to a consolidated platform, facilitating the delivery of financial information and business networks.
 
The expo, scheduled to take place from March 14th-16th at Lugogo UMA show grounds, responds the challenges that stand in the way of continued advances in Uganda’s financial industry, where millions of Ugandans still operates outside formal financial system-saving money under mattresses or under beds.
 
Addressing a press conference at Hotel Africana, David Sempala, the chief executive officer of Royalway Media said that “Increasing financial inclusion and capability is an essential enabler of the expansion of financial services to both unserved and underserved Ugandan populations”
 
He added that financial inclusion and literacy cannot be seen as an afterthought but must be considered a mainstream principle embedded across consumer-oriented financial services.

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Royal Way Media boss Ssempala talks to a guest. 


Sempala contends that financial service providers ought to take an affirmative responsibility to contribute to financial capacity building processes. The expo discussions will focus on luring financial providers to look for opportunities in their businesses or service delivery models to prioritise client’s financial literacy.

 
The Expo will therefore empower the public to better identify products and services relevant to their financial needs. In a dynamic financial sector, with rapidly evolving markets, the exhibition serves as the perfect platform for the key players to position their businesses, develop relationships, launch new products and build market share,
 
“Part of the event activities will include a powerful financial forum with key speakers to discuss topical issues related to banks, insurance, e-banking, investments among others. Entrance to this event is free for members of the public,” he added.
 
It is being organised with support from UAP insurance, Lion Assurance, Bank of Africa among others institutions that seeks to provide a much-needed platform to enhance public financial capabilities.
 
The participants for this year’s event will not only meet the representatives of banks, insurance and other financial structures but also get an opportunity to learn about the latest innovations in Uganda’s financial systems.
 
Key companies participating this year include major banks like Bank of Africa, Bank of Baroda, Bank of Uganda and as well as insurance companies like UAP Insurance, SWICO among others.

Banking, insurance expo seeks to boost financial inclusion

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