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Access Bank Rwanda Introduces Agency Banking

The model allows third party retail networks across Rwanda to serve as Access Bank financial service agents.

Access Bank Rwanda has introduced a novel product of agency banking dubbed 'Ikaze Agency Banking' with an aim to improve proximity to customers and increase presence across the country.

The model allows Access Bank to contract third party retail networks across the country to serve as banking agents offering financial services on their behalf.

Olivier Gakuba, Access Bank Rwanda's Group Head of Strategic Business Units. Image Source: New Times

Olivier Gakuba, the Bank's Group Head of Strategic Business Units made it known that the development is in response to a quest to penetrate the local market and improve access to financial services.

Access Bank's Ikaze agents are in position to offer a range of services including; cash deposit services, cash withdrawal services, account opening, and local interbank transfers. Agents will also issue clients with our novel digital enabled cards compatible with Point of Sale Machines and android devices enabling digital payments.

All Africa reports that the bank is also working to ensure it is compatible to other operating systems ensuring no one is left out on a new way of banking

With Access Bank Ikaze Agency, one can easily open an account at an agent outlet and get to enjoy the benefits of being formally banked such as savings, access to credit among others. Every Agent's outlet is branded with an "Access Ikaze" Signage.

Rwanda In Focus

Population: 12.626 million (Compared to Nigeria's 200.9 million)

GDP: $10.122 billion (Compared to Nigeria's $448.12 billion)

GDP Per Capita: $820 (Compared to Nigeria's $2,030)