Stanbic, Head FMCG, Aaron Akampa’s take on the future of online retail and how Uganda’s largest bank is investing ahead of the curve Stanbic Bank is Uganda's largest lender, controlling around 20% of all industry lending and as such had and has a significant role to play in both in-Covid and post-Covid coping and recovery of the retail sector. In this interview adapted from The Innovation Village's FUTURE OF RETAIL REPORT 2020, Aaron Akampa, the Bank's Head, FMCG, shares insights into the bank's response to Covid-19 business challenges as well the present and future of retail, from a financial services industry perspective.
AARON AKAMPA; Head FMCG at Stanbic Bank
From your perspective, how was the economy affected by Covid-19?
The main challenges stem from the various lockdown measures. There was no movement of goods during the lockdown. Mandatory testing of drivers at the border crossings slowed down movements of trucks. Malls and arcades were closed, so goods were not moving or being sold. There was an overall shift downward in demand cycles within th
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