Financial Inclusion Drive: 21,000 New Banking Points Open as Interswitch Uganda Links With Tropical Bank

KAMPALA — More than 3 million Ugandans who live far from a traditional bank branch are set to gain immediate access to formal financial services under a new partnership between Interswitch Uganda and Tropical Bank Limited announced Monday.

The deal turns every Quickteller agent kiosk into a Tropical Bank service point overnight. With 21,000 locations in shops, pharmacies, and markets from Kampala taxi parks to rural trading centers, customers can now deposit, withdraw, transfer funds, and pay bills using the same neighborhood outlets that already sell airtime and mobile money.

The move directly tackles Uganda’s financial inclusion gap. Bank of Uganda data shows only 38% of adults have a bank account, with rural communities citing distance and cost as the main barriers. By leveraging Interswitch’s agent infrastructure, Tropical Bank expands its physical footprint 300-fold without building new branches.

“Everyday transactions should be simple, convenient, and within reach for everyone,” said Moris Seguya, Interswitch Uganda Country General Manager. “Through the Quickteller agent network, we are bringing banking services closer to communities and helping more people participate in the formal financial ecosystem.”

For Tropical Bank, the partnership sidesteps the high cost of brick-and-mortar expansion while reaching high-traffic, underserved areas. “This allows us to extend our reach beyond traditional banking halls and bring our services closer to our customers,” said Abdulaziz M.A. Mansur of Tropical Bank Limited. “We’re offering secure, reliable, and convenient banking through Quickteller agents across Uganda.”

Interswitch, active in Uganda since 2002, built Quickteller as a digital rails system for payments and collections. Tapping that network gives Tropical Bank instant scale. Analysts say agent banking is one of the fastest ways to onboard SMEs, farmers, and gig workers who operate cash-heavy businesses but lack safe places to store or move money.

Greater access to deposits and digital payments also feeds into the central bank’s push for a cash-lite economy. Small businesses can accept bank transfers at agent points, reduce theft risk, and build transaction histories that qualify them for credit.

Tropical Bank, a licensed commercial bank serving individuals, SMEs, and corporates, frames the deal as part of its financial inclusion mandate. Interswitch’s stated mission is to make payments “a seamless part of everyday life in Africa.” The collaboration marks one of the largest single expansions of bank agent points in Uganda this year.

The service is live immediately at all 21,000 Quickteller locations. No additional registration is required for existing Tropical Bank customers.

 

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