Kampala, Uganda — 25th September 2024 — The Agent Banking Company of Uganda
Limited (ABC), a key provider of technology-driven financial services, is excited to
announce a major investment from Goodwell Investments, an impact investor focused on
inclusive growth in emerging markets. This investment, through Goodwell’s uMunthu II fund,
marks their first venture in Uganda and will enable ABC to expand the agent network and
introduce new integrated financial services to the underserved communities across Uganda.
Since the launch and start of its operations in 2017, ABC has revolutionized Uganda’s
financial landscape by working with 18 commercial banks, 15 Fintechs and 2 Micro Deposit
Institutions (MDIs) with over 15,000 authorized agents to deliver accessible financial
services to individuals and businesses. This investment aligns with ABC’s mission to
improve lives by facilitating access to quality and affordable financial services through a
shared and interoperable technology infrastructure.
Richard Jabel, CEO of ABC, stated: “we welcome this partnership with Goodwell which will
enhance our capacity to further expand the range of formal financial services accessible
and utilized by more Ugandans.”
ABC will drive financial inclusion among unbanked and underbanked Ugandans by
contributing to the modernization of Uganda’s financial sector and promoting sustainable
economic growth.
About ABC
Established in 2017, ABC is a joint initiative between the Uganda Bankers’ Association and
Eclectics International Ltd. ABC is licensed by Bank of Uganda as a Payment System
Operator, providing a Shared Agent Banking Technology Platform that connects banks with
agents to offer affordable financial services across Uganda.
Learn more at www.agentbanking.co.ug
About Goodwell Investments Goodwell Investments provides capital to companies driving positive social and economic
change in emerging markets, with a focus on financial inclusion, agribusiness, and
technology in Africa.
Learn more at www.goodwell.nl
