With only 10% of Ugandans estimated to be registered in the formal banking system or holding an account, among other constraints, the bank of Uganda admits the financial sector is not utilising its full potential in reaching the underserved and is way behind in helping Ugandans attain prosperity. The deputy governor Michael Atingi-Ego says the central bank has put in place quick solutions to closing the financial inclusion gap including deepening services and ensuring lowering costs are affordable to all.
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