| dc.description.abstract | Although the Government of Uganda and commercial banks have undertaken measures to promote financial inclusion in the country, a significant portion of the country’s adults remain, with many being completely unbanked and many others being under-banked. This study sought to assess the effectiveness of financial inclusion strategies of commercial banks in Uganda using a case study of Stanbic Bank Limited. The objectives were: (i) to identify the strategies employed by Stanbic Bank Limited in promoting financial inclusion in Uganda, (ii) to assess the effectiveness of strategies employed by Stanbic Bank Limited in promoting financial inclusion in Uganda, and (iii) to examine the challenges faced by Stanbic Bank Limited in promoting financial inclusion in Uganda. A cross-sectional approach, coupled with a mixture of quantitative and qualitative approaches, was used to collect data from bank customers and managers of Stanbic Bank—Garden City Branch in Kampala. The data was analyzed quantitatively using descriptive statistics and qualitatively using themes. From the findings, most respondents agreed with statements related to accessible and affordable account opening procedures, customer education, innovative digital banking solutions, agent banking, and easy access through branches and ATMs. Furthermore, most respondents agreed with statements related to insufficient banking infrastructure, high costs of financial services, limited financial literacy, lack of trust in the banking sector (particularly in rural areas), and absence of tailored financial products for marginalized populations. The study concludes that the strategies used by Stanbic Bank to promote financial inclusion in Uganda include accessible and affordable account opening procedures, customer education, innovative digital banking solutions, agent banking, and easy access through branches and ATMs. Furthermore, Stanbic Bank's financial inclusion strategies have been successful in increasing access to financial services for underserved populations in Uganda, raising awareness about the bank's financial products, expanding the availability of affordable banking products to marginalized groups, and increasing customer usage of its products and services. Finally, insufficient banking infrastructure, high costs of financial services, limited financial literacy, lack of trust in the banking sector, and the absence of tailored financial products for marginalized populations were perceived as significant challenges for Stanbic Bank Limited in its pursuit for promoting financial inclusion in Uganda. | en_US |
