Government Urges Masaka Residents to Embrace Saving in Banks

  • by Mary Ociiti
  • November 1, 2023


Residents of Greater Masaka region have been urged to embrace saving money in banks because it comes with different benefits such as safety but also contributes to improvement in livelihood.

The call was made by Masitula Naava, the deputy Resident City Commissioner (RCC) in charge of Nyendo-Mukungwe in Masaka city during the official opening of the two-day market event organised by Stanbic Bank Uganda on Friday.

“As stakeholders, we still have a lot to do especially in sensitising the community to embrace saving money in banks. Many people have chosen not to keep their money in the banks because they think it is for a select few. However, many have fallen victim to con men who take advantage of them by encouraging them to invest in Ponzi schemes,” Naava said.

She called upon Stanbic officials to invest in grassroot mobilisation which she said will help the public get closer to learning projects of the bank and eventually pick interest in them.

“People can only embrace and own the bank’s projects if you teach them. Therefore, I encourage you to take your mobilisation to the grassroot level because the public still needs to learn more about your services,” Naava added.

Flagged off last year, the market days have become a part of activities organised by the lender through the “L.O.V.E October” programme which is a period of giving back to the community, appreciating them for the support rendered throughout the year.

Stanbic’s head of Marketing Daniel Ogong said, ” As a bank, we believe that this is an opportunity for us to meet and interact more with our clients, to appreciate them, but also to get to know how we can serve them better. We are driven by our theme, ‘ Uganda is our home, we drive her growth.”

“We can only achieve better results if we work closely with our clients. The market days come with more opportunities such as exposure and networking and we hope the public will take advantage of them,” Ogong added.

Florence Namayanja, the Mayor for Masaka City, appreciated Stanbic Bank for working hand in hand with the authorities in the region.

“Development can only be achieved if there is synergy between the informal and formal sectors. We thank Stanbic Bank for being exemplary and always working hand in hand with us whenever there is need.”