HABARI DAILY I Kampala, Uganda I Uganda Revenue Authority has ranked Pearl Bank Uganda Limited as the best-performing financial institution in revenue growth and expansion.
This recognition highlights the bank’s growing influence in strengthening domestic revenue mobilization, improving collection efficiency, and accelerating digital financial services.
The award, presented at the annual bankers’ conference organized by URA, reflects Pearl Bank’s strong performance in supporting the country’s tax administration framework. The bank demonstrated significant growth in both transaction volumes and value, signaling its expanding footprint in Uganda’s evolving financial ecosystem.
Held under the theme “Financial Institutions as a Catalyst to Scaling Enterprise Productivity and Tax Base Expansion: A Pathway to 10-Fold Economic Growth,” the conference emphasized the central role banks play in linking enterprise growth to tax compliance. Pearl Bank’s recognition places it at the forefront of institutions driving this transformation.
By leveraging digital platforms, the bank has simplified tax payments and enhanced compliance, making it easier for businesses and individuals to meet their obligations. This efficiency not only boosts government revenue collection but also reduces leakages and administrative bottlenecks that have historically undermined tax systems in developing economies.
Speaking at the event, Pearl Bank’s Chief Corporate and Institutional Banking Officer, Abaasi Mawanda, said the recognition affirms the institution’s commitment to fostering entrepreneurship, expanding access to financial services, and enabling sustainable economic inclusion.
He noted that the bank’s strategy is closely aligned with national priorities aimed at broadening the tax base without increasing the tax burden. By integrating more enterprises into the formal financial system, Pearl Bank is helping to unlock productivity and improve visibility of economic activity—key pillars in revenue mobilization.
“The focus is on simplifying banking, expanding access to digital financial services, and bringing more enterprises into the formal financial system. This is critical not only for improving productivity but also for expanding the tax base,” Mawanda said.
Industry analysts say such recognition reflects a broader shift in the role of banks—from traditional intermediaries to strategic partners in economic development. Through innovation and enterprise support, financial institutions are increasingly becoming drivers of national growth agendas.
As Uganda intensifies efforts to boost domestic revenue, collaboration between banks and URA is proving vital. Pearl Bank’s top ranking signals how digital financial services, when effectively deployed, can enhance efficiency, deepen financial inclusion, and ultimately power the country’s long-term economic ambitions.
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