By Mike Ssegawa

The management of PostBank in the three East African countries have agreed up switch on a system that would enable their customers across the region access the bank’s service at no additional cost within the region.

The bank thriving in Uganda, Kenya and Tanzania, will also ensure that they introduce the technology that would enable their customers access financial services at their convenience places, not necessarily the banking halls.
These were some of the deliberations at the annual management meeting of the three countries in which they share best practices.
PostBank Uganda Managing Director Mr Stephen Mukweli told the media on Wednesday at Kampala Serena Hotel that annually management of the bank in the three countries meets to see how they can foster financial inclusion in the region. He added that the bank’s mandate is to ensure local businesses access credit at the most affordable rate in the most convenient way.
Mr Mukweli was joined was joined by his counterparts Mr Sabasaba Moshengi from Tanzania, and Ann Karanja from Kenya.
The three CEOs said they are harnessing their synergies to ensure the region can lower the cost of banking, increase financial inclusion and improve accessibility of banking services.
Mr Moshengi underscored the risk in lending in Africa as the main reason for the high interest rates on the continent, on top of poverty and financial illiteracy.

He said however the East African region has the some of the highest financial integration and was way ahead of many regions.

Mrs Karanja on her part said it is high time bankers embraced technology to help enroll more deposits using technology services such as mobile banking.

She said in the near future bank halls could be used for other services other than depositing and withdrawing as more customers wish to bank in the convenience of their living rooms or offices.

She said the “future of banks depends on how to adapt to new technology to expend our services,” adding that it was cost efficient.