Uganda Technology and Management University (UTAMU) is set to sign a Memorandum of Understanding with Post Bank, Uganda in which staff, students and the university will benefit from the bank’s products and services.
Meeting a team from Post Bank at the University premises on Tuesday 26th August 2014, Mr. Drake Patrick Mirembe, the Manager Engagement, Research and Innovation sought to know what the bank had on offer for UTAMU, its relevance to the community and what else could supplement the university’s initiatives.
“While most of today’s dynamic and globalized work environment thrives on partnerships, it is essential to pick and choose partners who share the same vision ‘growth’,” Drake expounded.
During the deliberation, the Post Bank team led by the Executive Director, Operations and ICT Department, Hajjat Safina Nakayemba highlighted services which included: Fees collection on behalf of Uganda Technology and Management University, offering Institutional development credit facilities and discounted loans to corporate staff as well as Student loans especially for those who might miss an exam due to a small amount of money.
Nakayemba said “We seek a mutually beneficial partnership which will take us both to the next level of using E-banking”.
Representative teams from both institutions discussed and agreed upon Post bank , Uganda displaying UTAMU marketing literature in all its branches, taking up Uganda Technology and Management University’s interns for community engagement, Supporting UTAMU’s innovation activities, NUDIPU’s collaboration, joint research initiatives and UTAMU’s school outreach program.
Fred Wasike , the head of business growth, at Post BanK, Uganda was tasked to come up with a proposal for consideration. “By close of this week, the proposal will be finalised and handed over for review” Wasike reassured.
Post Bank Uganda has been in existence since 1926. It started out as a department in the Post Office and in February 1998, Postbank Uganda Limited was incorporated in accordance with the Communications Act of 1997 to take over the operations of the former Post Office Savings department.
PostBank Uganda subscribes to the Depositors Insurance Scheme at Bank of Uganda. In the event of its failure, the bank’s depositors are insured up to Sh 3 million (approximately US$1,600.00), per eligible account.