• Contact Us
  • About Us
  • Advertise
  • Donate
  • Login
Watchdog Uganda
  • Home
  • News
    • National
    • Politics
    • World News
    • Media Outreach Newswire
    • Africa News
    • Tourism
    • Community News
    • Luganda
    • Sports
      • Football
      • Motorsport
  • Op-Ed
    • #Out2Lunch
    • Conversations with
    • Politics
    • Relationships
  • Business
    • Agriculture
    • CEOs & Entrepreneurs,
    • Companies
    • Finance
    • Products
    • RealEstate
    • Technology
  • Entertainment
    • Lifestyle
  • People
    • Showbiz
      • Salon Mag
  • Special Report
    • Education
    • Voices
  • Reviews
    • Products
    • Events
    • Hotels
    • Restaurants
    • Places
  • WD-TV
  • Donate
  • China News
No Result
View All Result
  • Home
  • News
    • National
    • Politics
    • World News
    • Media Outreach Newswire
    • Africa News
    • Tourism
    • Community News
    • Luganda
    • Sports
      • Football
      • Motorsport
  • Op-Ed
    • #Out2Lunch
    • Conversations with
    • Politics
    • Relationships
  • Business
    • Agriculture
    • CEOs & Entrepreneurs,
    • Companies
    • Finance
    • Products
    • RealEstate
    • Technology
  • Entertainment
    • Lifestyle
  • People
    • Showbiz
      • Salon Mag
  • Special Report
    • Education
    • Voices
  • Reviews
    • Products
    • Events
    • Hotels
    • Restaurants
    • Places
  • WD-TV
  • Donate
  • China News
No Result
View All Result
Watchdog Uganda
No Result
View All Result

PostBank Uganda moves to digitize youth saving goals

Mulema Najib by Mulema Najib
8 years ago
in Business
2 0

Warning: Trying to access array offset on value of type bool in /home/90/81/2028190/web/wp-content/themes/jnews/class/Image/ImageNormalLoad.php on line 70

Warning: Trying to access array offset on value of type bool in /home/90/81/2028190/web/wp-content/themes/jnews/class/Image/ImageNormalLoad.php on line 73
ShareTweetSendShare

By Watchdog reporter

PostBank Uganda has today unveiled a youth savings account called the “PostBank Youthsave Solution”.

This product aims at financially including Youth through educating them on savings, retaining them as loyal customers and ultimately position PostBank as the preferred financial institution for the Youth.

The bank has further unveiled a unique account dubbed ‘’Goal-based saving using mobile phone and App based e-wallets” to encourage the youth to save more diligently.

Mr Alex Kayaayo, the Executive Director PostBank Uganda, said, “As part of our mandate, PostBank is dedicated to improving the economic well-being of our customers by encouraging them to develop a savings culture.

“Low savings rate coupled with high unemployment are some of the biggest challenges facing Ugandans today and we believe that Postbank’s youthsave account is a great opportunity to help youth in our community to set goals, track the set goals and save,” he added, explaining that this product will also encourage Youth in informal work roles like car washing, brick laying and domestic work to mention but a few, to access formal banking channels at zero or subsidized cost.

The YouthSave Account was developed with support of a donor, World Savings and Retail Banking Institute (WSBI) who supported the research into Youth and Student behavior and gaps that affected the saving culture.

The account uses mobile phone and internet based functionality to enable youth to access their accounts digitally, as well as learn how to save for multiple goals using a mobile phone Application.

“The youthsave account is not just a product, it is an ‘Experience’,” Said Jackie Tahakanizibwa Kwesiga, the bank’s Senior Manager Marketing and Communications. “It has mobile phone banking functionality using USSD *263*2#, it uses a play store based internet youthsave app that runs on data, teaches students and youth how to save for multiple goals using e-wallets, minimum balance is only 5000= and it allows multichannel access to the account via mobile phone, ATM or over the counter”.

How it works

Open a PostBank youthsave account for Sh5,000, sign upto use mobile phone banking services then dial*263*2# or Download the YouthSave App on Google Play and Start saving for multiple goals like school fees, rent, starting up a business, to mention but a few.

Who is eligible?

This is a digitally enhanced account for students and youth aged between 18 and 30 years.
• Student Youth – Employed or Self Employed
• Student Youth – Unemployed
• Youth – Employed or Self Employed

What functions will the YouthSave A/c App or USSD *263*2# have?

• Setting savings goals. E.g. Youth/Student Loads 500,000 UGX on their mobile phone, saves 200,000 UGX for hostel rent, 200,000 UGX for meals and 100,000 UGX for university-related fees.
• Track savings goals. E.g. If hostel rent is 500,000 UGX and student/youth has saved the 200,000 UGX above, a tracker reminds them that they have 40% of their targeted saving. **(Via App and not on USSD)
• Check account balance
• Buy airtime
• Bill payments
• Transfer money from account to mobile wallet
• Transfer funds from mobile wallet to account
• Instruct standing orders.
• Set start and end dates for savings goals
• Edit savings goals, Get a mini statement


Do you have a story in your community or an opinion to share with us: Email us at editorial@watchdoguganda.com
ShareTweetSendShare

Related Posts

Business

CAN JOHN BOSCO MUWONGE CLAIM A SPOT AMONG AFRICA’S WEALTHIEST?

5th July 2025 at 18:09
Hon. Raphael Magyezi
Agriculture

Yara East Africa and Asili Agriculture Launch Agri-Hub in Kiryandongo to Advance Farmer Knowledge and Food Security in Uganda

4th July 2025 at 19:06
The Queen’s Ball, a high-profile fundraising gala, will bring together entrepreneurs, diplomats, corporate leaders, and Buganda Kingdom officials to foster dialogue, reduce stigma, and support grassroots mental health efforts.
Business

Speke Resort Munyonyo to Host UNESCO Africa Engineering Week 2025

4th July 2025 at 10:07
Next Post

20th woman gruesomely killed in Entebbe

  • Prostitution in Uganda- Courtesy Photo

    10 dangerous hotspots known for prostitutes in Kampala

    1113 shares
    Share 445 Tweet 278
  • Silent Billionaire Bosco Muwonge Buys Mukwano Arcade at UGX 250 Billion Cash Down

    39 shares
    Share 16 Tweet 10
  • LIST: New salary structure for civil servants starting July 2020 out; scientists, lecturers get juicy pay rise

    2286 shares
    Share 914 Tweet 572
  • Uganda’s Billionaires 2025: Once Again Sudhir Ruparelia Leads a Resilient Pack

    45 shares
    Share 18 Tweet 11
  • LIST : Gov’t releases Revised Salary Structure for Teachers, Police, and Prisons Staff for FY 2024/2025

    120 shares
    Share 48 Tweet 30
Facebook Twitter

Contact Information

Watchdog Uganda is a portal for solution journalism, trending news plus cutting edge commentaries in the fields of politics, security, business, tourism, entertainment, technology, agriculture, climate change, environment, public health et al. We also give preference to Ugandan community news and topical discussions. The portal also publishes community news and topical discussions.

Email: editorial@watchdoguganda.com
To Advertise:Click here

Latest News

CAN JOHN BOSCO MUWONGE CLAIM A SPOT AMONG AFRICA’S WEALTHIEST?

5th July 2025 at 18:09
Bwanika Joseph

BWANIKA JOSEPH: The Ballot and the Briefcase, Uganda’s Corporate Workers Must Vote for Fairness and Dignity

5th July 2025 at 10:36

Check out

  • Trending
  • Comments
  • Latest
Minister Muruli Mukasa

LIST: New salary structure for civil servants starting July 2020 out; scientists, lecturers get juicy pay rise

24th May 2020 at 10:45
Pregnant woman

Shock as 17-year old boy impregnates his two sisters during Covid-19 lockdown 

17th June 2020 at 08:17
Sudhir Ruparelia is set to speak at business forum in United Kingdom

Billionaire Sudhir’s wisdom on how to invest in real estate

0

How a boy’s destiny turned from cotton grower to communications guru

0

CAN JOHN BOSCO MUWONGE CLAIM A SPOT AMONG AFRICA’S WEALTHIEST?

5th July 2025 at 18:09
Bwanika Joseph

BWANIKA JOSEPH: The Ballot and the Briefcase, Uganda’s Corporate Workers Must Vote for Fairness and Dignity

5th July 2025 at 10:36

© 2025 Watchdog Uganda

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • News
    • National
    • Politics
    • World News
    • Media Outreach Newswire
    • Africa News
    • Tourism
    • Community News
    • Luganda
    • Sports
      • Football
      • Motorsport
  • Op-Ed
    • #Out2Lunch
    • Conversations with
    • Politics
    • Relationships
  • Business
    • Agriculture
    • CEOs & Entrepreneurs,
    • Companies
    • Finance
    • Products
    • RealEstate
    • Technology
  • Entertainment
    • Lifestyle
  • People
    • Showbiz
      • Salon Mag
  • Special Report
    • Education
    • Voices
  • Reviews
    • Products
    • Events
    • Hotels
    • Restaurants
    • Places
  • WD-TV
  • Donate
  • China News

© 2025 Watchdog Uganda