Bankers urged to actively participate in sports to encourage saving

Bankers in Uganda have been advised to become proactive in taking part in sports because the financial sector is a key stakeholder in the economy.

Top actors in the banking sector argue that banks' active participation in sports will increase awareness of financial discipline and saving among people and sports clubs. 

Officiating at the virtual banker’s sports gala award ceremony at Hotel African on Wednesday, the chairman of the institute of bankers and financial services, who is also the chief executive officer of Housing Finance Bank, Mr Michael Mugabi, said bankers must be participating in sports because it will promote a culture saving in the world of sports.

“The financial sector is a key stakeholder of the economy. Banks are a critical intermediary economy that exchanges goods and services for money or other financial assets,” he said.

Mr Mugabi said there is a need for bankers to promote professionalism in various sports games by participating in sports.

Banks can help develop all the dimensions of the sports industry as well as all the business areas involved in the sports ground.

There are currently 25 commercial, four credit institutions, and four Microfinance Depositing taking institutions, which offers them the opportunity to come up with bankers’ sports clubs.

The chief executive officer of the Uganda Institute of bankers and financial services, Ms Goretti Masadde said participation in sports activities among the bankers will help them to promote fitness, togetherness, and financial discipline. “In this virtual sport, we held for the first time teams and individuals various banks participated in for 24 days,” she said.

She said a strategic banking partner is a key to success both on and off the field, which is good for the financial sector in Uganda. 

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