Uganda, Dec. 7 -- The number of shared agent banking service providers has doubled, according to Bank of Uganda.

Speaking during the Financial Stability Symposium, Mr Andrew Kawere, the Bank of Uganda deputy director national payment systems, said service providers under shared agent banking increased in both value and volume, growing by 53.6 percent during the period ended November.

The shared agent platform, provided under Agent Banking Company, creates a convergence through which at least 22 banks provide formal banking service.

The platform seeks to take banking services closer to the people while reducing operation and administrative costs for financial institutions.

During his presentation, Mr Kawere said, the growth in agent ba...