Awash Bank signed an agreement with Service Cops aiming to make digital microloans accessible to its 12 million customers. According to Service Cops, the digital microloan service will also reach non-bank customers in the future.

During the signing ceremony, Service Cops’ Managing Director Mathias Kamugasho stated that his company would support Awash Bank to roll out digital platforms in the insurance sector, retail outreach, and relief and aid distribution.

Awash’s engagement with the Ugandan financial technology firm started in 2022 when the two companies inked a partnership agreement to create a variety of digital payment solutions in various service sectors. Among others, the partnership allows the creation of an information management system that generates customized reports for schools by assigning each student a unique payment code and business intelligence module.

Service Cops is the first of the few Ugandan fintech brands to operate outside of Uganda. It currently partners with 16 Commercial Banks, 5 Mobile Network Operators and a number of payment aggregators in East and Central Africa to deliver its solutions. It is also the first Ugandan based fintech to establish itself in the Ethiopian market. Within the Ethiopian market, Awash is the second bank to partner with the fintech company.

Source: Daily Monitor Uganda Edition and 2Merkato Archives