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Equity Bank has today unveiled a range of new digital savings products designed to help customers save seamlessly, grow their money and reach their financial goals with greater ease.

Accessible through the bank’s Mobile App and online platforms, the offerings include Classic Savings, Call Deposit, Goal Savings and Fixed Deposit Savings, giving both current customers and future clients more convenient ways to manage and save money.

The new digital savings products were introduced with a disruptive campaign dubbed ‘Kaboxi,’ which illustrated the traditional ways in which a vast population saves their money in a physical wooden savings box, also commonly known as a piggy bank. The campaign also highlighted the vulnerabilities of these traditional saving methods to theft and physical damage.

Despite the rapid adoption of mobile and digital channels of financial transactions in the region, the 2023 FinScope Uganda survey, 60% of Ugandans are saving with a significant portion of the population relying on informal means. A notable method is keeping cash at home, with nearly 44% of Ugandans using this approach for long-term savings, a considerable increase from previous years.

Speaking at the virtual unveiling of the products to the public on Monday, Equity Bank’s Managing Director Anthony Kituuka, said the new Digital Savings Account promises to offer customers easy and comprehensive ways of savings that support their financial needs and cash management.

“Digital Savings Account is a forward-thinking solution that enables customers to save short-term or long-term depending on their goals or needs. As a bank committed to championing digital transformation, we are dedicated to introducing innovative digital banking products that not only simplify financial transactions but also empower our customers to achieve their financial goals,” said Anthony Kituuka, Managing Director Equity Bank Uganda.

To start digital savings, a customer logs into his or her existing account, clicks on the saving icon and picks the savings options of either Goal, Call, Classic or Fixed Deposit savings. Equity customers will not only earn competitive interest on their savings but also the digital savings account bears no charges.

The Goal digital savings account allows a customer to easily save any amount towards short-term or long-term goals and earns daily interest on their savings while the Fixed Deposit account allows for long-term savings while earning competitive interest on the funds in the account. 

The Call Savings account allows short-term daily digital savings that pay interest starting from a shorter minimum time and allow for partial withdrawal whenever the customer needs the money.

Equity Bank’s Senior Manager Client Solutions and Business Integration Nelson Bamwiine said the latest innovative solution unveiled by the Bank is in line with the Bank’s mission to champion financial inclusion through offering integrated financial solutions that socially and economically empower its customers.

“Our past innovative solutions such as Equity Online, EazzyBiz and Eazzy Stock offer customers easy and comprehensive banking experiences that support their financial needs; cash management, liquidity management, bill payments and cashless transaction settlements; making banking easy. In addition, the new product comes with features designed for convenience, security and flexibility,” Bamwine said.

Official Launch Video: https://youtu.be/x2Ii737C7xI  

https://theinsider.ug/index.php/2024/09/17/revolutionizing-banking-equity-unveils-digital-savings-options-to-boost-financial-inclusion/

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Ugandan Citizen Abducted, Held in Secret Detention for Three Months, Sparks Outrage and Calls for Justice

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A disturbing new case of unlawful detention has surfaced, highlighting the ongoing human rights crisis in Uganda. A Ugandan citizen was reportedly abducted and held in a secret facility, known as a “safe house,” for three months, only to be released without charge or explanation. This incident, reported by NTV Uganda, has sparked widespread condemnation and renewed calls for accountability regarding human rights abuses in the country.
While the details surrounding the abduction remain unclear, reports indicate that the individual was taken without due process and held incommunicado—an action that has long been condemned by human rights organizations. The victim’s release, with no charges filed and no clear justification, has angered activists and citizens, who view this as yet another case of egregious abuse of power by the state.
“This is a recurring pattern,” said one human rights activist. “Abductions, secret detentions, and unexplained releases have become all too common in Uganda. These acts violate fundamental human rights and erode public trust in the justice system.”
The use of “safe houses,” unregistered detention facilities reportedly operated by security forces, has been a focal point in numerous allegations of torture and illegal imprisonment. Despite repeated calls from both local and international organizations for their closure and accountability for those involved, little action has been taken to address these violations.
This case underscores the urgent need for reform within Uganda’s security apparatus and greater accountability for human rights abuses. Observers hope that drawing attention to these injustices will spur concrete action to bring those responsible to justice and ensure the protection of basic human rights.
As frustration mounts, calls for both domestic and international pressure to hold the government accountable for such crimes grow louder. “One day, there must be accountability for all these crimes against our people,” stated one social media user, reflecting the sentiments of many Ugandans.

Ugandan Citizen Abducted, Held in Secret Detention for Three Months, Sparks Outrage and Calls for Justice

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NUP Gathering Disrupted: Kyagulanyi Alleges Security Force Harassment and Arrests

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National Unity Platform (NUP) President Robert Kyagulanyi has accused Ugandan security forces of using excessive force to disrupt a planned NUP gathering. The allegations were detailed in a statement shared on Twitter, following an event held to honor children of NUP supporters who were killed, disappeared, or detained for their political beliefs.
According to Kyagulanyi, security personnel, under the command of an officer identified as Asiimwe, carried out a preemptive operation early in the morning upon learning of the NUP’s plans. The forces allegedly stormed the premises, arrested workers, and deployed tear gas to disperse those present.
“The criminals under the command of one Asiimwe deployed early morning, arrested our workers, and threw tear gas into our premises. They’ve cordoned off the premises and blocked all people from accessing the place,” Kyagulanyi wrote.
Among those reportedly arrested were Saava Peter, Mudenya Samson, and Turyasingura Samson. Kyagulanyi claimed the detained workers were subjected to beatings and interrogated about their political affiliations, with security operatives labeling them as terrorists.
“These JATT operatives asked the workers who they support politically, branding them terrorists and criminals—their only crime being that they work with us. You can imagine the indignity!” Kyagulanyi lamented.
This incident adds to the growing tension in Uganda’s political climate, where opposition parties frequently accuse the government of stifling dissent. Despite the challenges, Kyagulanyi ended his statement with a message of defiance and optimism, proclaiming, “UGANDA WILL BE FREE.”

NUP Gathering Disrupted: Kyagulanyi Alleges Security Force Harassment and Arrests

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Sudan Demands Apology from Uganda Over Army Chief Muhoozi Kainerugaba’s Threat to Invade Khartoum

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Sudan has demanded an official apology from Uganda over “offensive and dangerous” comments made by the chief of Uganda army staff, who threated to invade Khartoum, the Sudan Tribune has reported.
General Muhoozi Kainerugaba, son of Ugandan President Yoweri Museveni and CDF of the Ugandan army, posted two comments on the X platform on Tuesday in which he threatened “to capture Khartoum” with the support of the US President elect Donald Trump after he takes office. The posts were deleted later.
“The government of Sudan demands and official apology from the Ugandan government for the offensive and dangerous comments of the army commander,” Sudan’s foreign ministry said in a statement that the Sudan Tribune said it has seen.

Sudan Demands Apology from Uganda Over Army Chief Muhoozi Kainerugaba’s Threat to Invade Khartoum

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