KAMPALA – Stanbic Bank Uganda has provided the organisations and health partners with 1000 prepaid cards to facilitate cashless payments to frontline staff and other essential workers.
This is another of the Bank’s contribution to the fight against the COVID-19 spread by eliminating the usage of cash which can be one way through which the virus can be transmitted.
Stanbic Bank Uganda Head of Personal Markets, Israel Arinaitwe, speaking during the handover ceremony at Plan International said, “As a bank we are committed to growth and development of Uganda, and it’s in the same spirit that we are supporting Ministry of Health efforts with prepaid cards which they can use to facilitate their work countrywide with allowances and stipends.”
He added, “We found it prudent to donate 1000 Visa Prepaid cards to the organisations who are helping combat COVID19 to aid cash disbursements/facilitation to our frontline heroes (health works and all support staff) who continue to tirelessly fight the COVID 19 pandemic countrywide ensuring the safety of all Ugandans.”
The cards were issued to the supporting organisations including Plan international, Uganda Virus Research Institute (UVRI), Infectious Disease institute (IDI), Infectious Disease Research collaboration (IDRC) and African Initiatives for Relief and Development (AIRD).
Speaking after receiving the prepaid cards, Plan International Head of programmes Greg Lavendar said, “We have a long history of good collaboration with Stanbic Bank and we are happy with the prepaid cards they have provided to us today. This cards will go a long will way to enable our work in the fied particularly our refugees response programmes.”
The cards will also help with accountability and ensure that our staff in the field receive the money on time. Prepaid cards are the best means of handling cash by the general public because they are cashless and secure means of making payments by eliminating all risks associated with cash handling.
Stanbic Bank Uganda’s Head of Cards and acquisition, Paul Tamale while speaking during the handover of cards to AIRD said, “The prepaid cards will help the organisations to account for the funds sent out to the staff because every transaction can be tracked. Above all it will help them send their staff money in real time.”
African Initiatives for Relief and Development (AIRD) Country Programme Director Abraham V, Konneh while speaking after receiving the prepaid cards said, “We are very grateful to Stanbic Bank for this innovative solution which will go a long way in supporting our work in the field. The prepaid cards are going to benefit our colleagues in the field and help us send their daily subsistence allowance (DSA) on time. We have so far piloted the cards with 200 staff that are currently in the field. We hope to increase the number of cards to cover all our 500 staff members in the field.
Arinaitwe said Stanbic Bank waived off card issuance fees and encouraged all customers without debit cards to obtain one at no cost to promote the safety of the Bank’s customers. “This is aimed at helping our customers to replace cash that can easily transmit the Covid-19 virus through its hand to hand form of payment. Payments by means of Visa cards are cashless, safe, secure and much more convenient,” he explained.
Stanbic Bank also instituted various safety measures to protect staff and customers and also donated to government through the Ministry of health several items including protective gear.
About Stanbic Bank Uganda
Stanbic Bank Uganda is part of the Standard Bank Group, Africa’s largest bank by assets. Standard Bank Group reported total assets R2.3 trillion (about USD163 billion) at 31 December 2019, while its market capitalisation was R277 billion (USD20 billion).
The group has direct, on-the-ground representation in 20 African countries and in 5 global financial centres. Standard Bank Group has more than 1 100 branches and 9 000 ATMs in Africa, making it one of the largest banking networks on the continent. It provides global connections backed by deep insights into the countries where it operates.
Stanbic Bank Uganda provides the full spectrum of financial services. Its Corporate & Investment Banking (CIB) division serves a wide range of requirements for banking, finance, trading, investment, risk management and advisory services. Corporate & Investment Banking delivers this comprehensive range of products and services relating to: investment banking; global markets; and global transactional products and services.