Financial Expo Expected to Bridge Information Gap

Ephraim Kasozi

14 April 2011

Despite concerted efforts, there is still difficulty in understanding procedures as well as information irregularity between financial intermediaries and customers, service providers have said.

According to available data, customers are often penalised for minor violations, although they have limited redress mechanisms to rectify deficiencies in services by banks or claims in insurance.

Ms Jalia Ssebugwawo, the business manager of Royalway Media said empowering customers with financial information would be relevant in bridging the gap between consumers and providers.

While announcing the third Banking, Financial and Insurance Expo2011, Ms Ssebugwawo said this year’s focus is using technology to enhance competitive capacity to deliver customised services by financial institutions.

Uganda’s financial markets offer a variety of simple and complex financial products. From simple personal account opening to mortgages and invoice discounting, which is difficult for the common man to grasp.

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