In an aim to maximize financial inclusion in Uganda, various banks have developed agency banking in order to take their services closer to the customers. Equity bank is one of the leaders in agency banking with the introduction of Equi Duuka.
Equi Duuka is an agency banking model that enables access to Equity bank at your nearest location. With this set up, you can access your bank from anywhere so long as there is an agent available.
The agents are equipped with point of sale machines that work like Automatic Teller Machines. With this, you are able to deposit money, withdraw money and also send money. The agents are paid commission off every transaction that is made.
According to Anthony Kituuka the Executive Director of Equity bank Uganda, about 5000 to 6000 transactions are recorded daily through the Equi Duuka platform.
Related Article: What is shared Agent Banking system?
Equity bank is available in 6 African countries and has a customer base of about 12 million. The Equi Duuka model was designed by the Board of Directors overseeing all the branches in all the African countries. The set up has rolled out in Kenya, Tanzania, Rwanda and Uganda among others.
This model is being set up in as many locations as possible to ease access and reach by customers. Equity bank has a one network system so you can access the Equity Duuka services in any country that has Equity bank.
How does one become an agent.
The rules and regulations to become an agent are prescribed by the Central Bank. For example: The agent should have an account in a financial institution licensed by the Central Bank, should have a physical address, among others.
You can find them detailed here.
In case you want to know the nearest Equi Duuka to your exact location or you want to get classified information about the product, you can contact Equity Bank directly.
Equity Bank’s main offices are located at Church House on Kampala Road.
Customer Support : 031 2263422
Have you used any bank agent before? Tell us your experience on the comments section.