Agent Banking Surges in Uganda, Offering Financial Access Beyond Traditional Branches

Financial services in Uganda are increasingly moving beyond the traditional brick-and-mortar bank branches, with agent banking emerging as a dominant force. This shift is bringing banking closer to communities across the nation, replacing lengthy queues in urban centers with a burgeoning network of accessible outlets in villages, markets, and transport hubs.

The Bank of Uganda’s 2025 Financial Stability Report highlights this rapid expansion. The report indicates a substantial 76.1 percent increase in agent banking transactions between 2024 and 2025, climbing from Shs16.7 trillion to Shs29.4 trillion. This surge is supported by a growing network of over 24,000 active agents operating nationwide.

John Ssemyalo, the chief executive officer of Pebuu, a company working in this space, noted the challenges faced by financial institutions in ensuring active agent participation. “While a financial institution might claim to have a portfolio of 5,000 agents, the real question is how many of these agents are actively transacting,” Ssemyalo stated. Pebuu focuses on providing on-the-ground support to these agents, addressing real-time issues and collaborating with partner financial institutions to enhance activity levels.

This enhanced support from entities like Pebuu has demonstrably reduced agent inactivity. The growth of agent banking signifies a major step towards financial inclusion, making banking services more convenient and accessible for a wider population in Uganda.

Read more about the growth of agent banking in Uganda from the Daily Monitor.