The deputy governor of Bank of Uganda (BoU), Mr Michael Atingi-Ego, has asked Ugandans to embrace cashless financial transactions to save the Central Bank from expenses of printing money notes.
“Bank of Uganda spends a lot of money in printing new currency notes and if the citizens can embrace cashless forms of financial transactions through telecom companies such as mobile money, this will save the bank from spending on printing more money thus using the savings to support community healthcare systems and environmental conservation,” Mr Atingi-Ego said.
He made the call while commissioning a Shs500m maternity ward at Rubaya Health Centre IV in Kabale District at the weekend.
The Central Bank funded the project in memory of its late governor, Prof Emmanuel Tumusiime-Mutebile, who spearheaded several initiatives aimed at improving maternal and child healthcare.
Mr Atingi-Ego said the bank’s journey towards supporting and enhancing maternal and child healthcare started in 2016 when they celebrated 50 years of existence.
He said the late Tumusiime-Mutebile rallied stakeholders and well-wishers to raise funds through a charity walk.