Ecobank Uganda to open Amuru branch
A new partnership between the United States Agency for International Development (USAID) and Ecobank Uganda will see residents in the Amuru district of the country get greater access to finance.Ecobank will open the first commercial branch in the area as part of the arrangement, which has been reached through USAID's Livelihoods and Enterprises for Agricultural Development Project. USAID is providing the bank with a grant valued at USh469 million (€183,000) in order to assist with establishing the branch. According to Daily Monitor, the move will help at least 700 farmers living in the district get access to financial projects.
"Ecobank is a viable partner by virtue of its extensive experience," a joint statement from the two parties read. The firm currently operates seven branches in Uganda, including its head office in Kampala. In total, it runs over 600 offices and branches across 27 African countries, employing in excess of 11,000 staff.