As Uganda continues to embrace the digital economy, financial institutions are at the forefront of ensuring people have access to the freedom, convenience, and choice it brings. For Equity Bank Uganda, transforming lives, giving dignity, and expanding opportunities for wealth creation are the main focus points. The only way to do this at scale is through digital banking.
This commitment to providing digital banking services has seen the bank disburse UGX 10 billion every day, with 97% of transactions being carried out outside the bank, according to Managing Director Anthony Kituuka.
However, the rapid shift towards the digital economy has also increased online fraud, with fraudsters taking advantage of unsuspecting individuals who may not be well-versed in digital security. With this in mind, Equity Bank Uganda has gotten aboard the “Beera Steady – Be Better” campaign by Next Media, which aims to sensitize Ugandans about safeguarding their digital money.
The “Beera Steady – Be Better” campaign is an initiative that encourages Ugandans to be financially literate and make informed decisions about their money. The campaign also aims to educate Ugandans about the risks associated with online transactions and the measures they can take to safeguard their digital money.
In his speech, Anthony Kituuka, the Managing Director of Equity Bank Uganda, highlighted the importance of digital banking in today’s gig economy, stating, “individuals are constantly on the move and need access to their finances at any time of day or night. There is a need for trust in the banking industry because people rely on [banks] to keep their money safe.”
Kituuka also acknowledged the increased risk of online fraud and cybercrime, particularly during the COVID-19 pandemic when more people shifted towards digital banking. Kituuka noted, “Government has provided an excellent cyber security unit that has enabled us to catch fraudsters wherever they are, some as far as the Middle East and Eastern Europe. Back in the day, robbers used to come to the banks with guns, but now they rob via the internet.”
As part of the “Beera Steady – Be Better” campaign, Equity Bank Uganda is encouraging individuals to keep their digital money safe by not sharing their passwords, not keeping passwords on their phones, and reporting any loss of their phones to the bank or the police.
“The same way you keep your money safe. The same way you don’t give your money out in the open and don’t pre-sign cheques is the same way you should keep your digital money safe. Please, don’t share your password or keep it on your phone,” Kituuka further remarked.
The “Beera Steady – Be Better” campaign by Next Media is a crucial initiative that will go a long way in achieving these goals and ensuring that Uganda’s economy continues to grow and thrive.
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