Watu Uganda, a leading asset financier, has become the third financial institution in Africa to receive an esteemed Client Protection Certification from Microfinanza Rating (MFR).
This significant achievement underscores Watu Uganda’s commitment to advancing financial inclusion and responsible lending practices.
The exciting news was announced during their Customer Service Week celebrations held at their headquarters in Ndeba, a Kampala suburb.
The certification process involved a comprehensive evaluation of Watu Uganda’s policies and operations, with a particular emphasis on transparency, fair product design, complaint resolution mechanisms, and fair pricing.
This prestigious recognition highlights the company’s unwavering dedication to upholding the highest standards in client protection, ensuring that its financial solutions meet the needs and well-being of its customers.
“Receiving the MFR Client Protection Certification is a testament to our commitment to offering financial solutions that truly prioritize our clients. Our mission is to revolutionize asset financing in Uganda by ensuring our services are accessible but also fair, transparent, and client-centric. We’re proud to have made a tangible difference in the lives of thousands of Ugandans,” said Christian Kamukama Head of Commercial at Watu Uganda during a press conferece.
‘’This certification’s achievement is particularly significant in the Ugandan financial sector, where responsible lending practices are crucial for sustainable economic growth. Watu Uganda’s certification sets a new standard for financial institutions in the country and demonstrates the company’s leadership in ethical financial services. This achievement comes as Watu Uganda celebrates Customer Service Week, themed “Above and Beyond,” with activities taking place across all branches in the country’’. He added.
”The week-long event showcases Watu’s approach to financing, particularly in the motorcycle (Bodaboda) sector, which plays a crucial role in Uganda’s transportation system. Watu Uganda’s journey toward achieving the MFR certification began in 2021 with a rigorous social rating assessment that reviewed the company’s adherence to client protection principles. This certification reflects the institution’s ongoing efforts to maintain ethical and transparent business operations, further strengthening its reputation as a leader in financial services”. Kamukama stated.
‘’As part of the Customer Service Week celebration, Watu Uganda hosts interactive activities to encourage open dialogue between staff and clients. These events offer clients the opportunity to learn more about Watu’s diverse financing options and the robust support systems available to assist them throughout their financial journey. Additionally, the event provides a platform for journalists and stakeholders to explore how Watu Uganda is driving innovation in ethical and responsible financial service delivery across East Africa’’. Said Kamukama.
Since its establishment in 2019, Watu Uganda has substantially impacted the country’s Bodaboda sector, providing over 130,000 Bodaboda loans and impacting the lives of more than half a million people.
