Church of Uganda to start own Bank

The church of Uganda is set to start its own bank as some of the initiative to re-claim financial independence of the church and improving service delivery in church of Uganda.

Now to achieve this, the church is set to launch project dubbed Kingdom Development Organization ‘’KIDO’’ through which followers will contribute some money on daily basis.

While addressing media today, the arch bishop of Uganda His grace Stanly Ntagali said that each Anglican is required to donate 500 shillings through mobile money on daily basis targeting a population of 5 million people.

He explained this humble contribution will not only end at establishing a bank, but also improving health service, building houses to clergymen and other.

Under this arrangement the church hopes to collect 2.5 billion from 5 million people on daily basis, which is enough to kick start the process of establishing a church of Uganda bank.

The project is to be launched on 16th October at St Luke church Ntinda.