Q&A: 2 years, 7,600 agents and over UGX2.5 trillion transacted, agent banking is unstoppable; it is the future of banking The 2018 Uganda Finscope Survey showed that although access to formal and informal financial services had risen to 78 percent (14.4 million), only 58 percent (10.8 million people), was formal. Even then, of this 58 percent, 43 percent (7.9 million) was associated with mobile money. Only a handful- 11 percent were using Commercial Banks or Micro-Deposit taking institutions. Low usage of formal banks/MDIs was largely due to low distribution- only 695 branches as at 31st December 2018 and therefore high costs of access. In April 2018, the banking industry decided to get together and launch the Agent Banking Company of Uganda which would through a Shared Agent Banking System (SABS) change this, increase penetration of basic banking services and at a reduced cost. Slightly after two years after launch, CEO East Africa, caught up with Richard Yego, the Chief Executive Officer, Agent Banking Company of Uganda to discuss the inroads made thus far, the challenges met, Covid-19 and the future of agent banking in Uganda.