Deposit Protection Fund holds engagement with the media in the Masaka Sub-region – April 29, 2025

The Deposit Protection Fund (DPF) held a media engagement in the Masaka Sub-region, bringing together key media professionals as part of the effort to enhance awareness about deposit insurance among strategic stakeholders. The engagement aimed at;

• Providing media practitioners, with a general overview of the Fund and its operations with a focus on its establishment and mandate.
• Enhancing media practitioners’ knowledge about deposit protection in Uganda and how it contributes to financial sector stability.
• Equipping the practitioners with information to enable them to ensure accurate and informed reporting, counter negative messages and to support DPF in disseminating important information on deposit protection to the public.

Representatives from various media houses participated in the interactive discussions on the role of the DPF in safeguarding depositors’ funds and promoting public confidence in the financial sector.

Speaking at the event, Mr. Patrick Ezaga – Director Communications at DPF, emphasized the crucial role the media plays in educating the public about deposit protection mechanisms. “Clear and factual reporting on deposit protection matters strengthens trust in the banking and financial system. The DPF is committed to working closely with media professionals to ensure accurate dissemination of information,” he noted.

The session included a detailed presentation on the background of deposit insurance,  DPF’s genesis and its functions, membership and coverage, DPF’s funding and the role of the media. This was followed by a Q&A section where journalists raised pertinent questions about deposit insurance, customer protection and payment of protected deposits among others.

The engagement underscores DPF’s commitment to fostering strong relationships with the media to ensure effective communication and transparency. Journalists expressed appreciation for the initiative, highlighting its relevance in improving public awareness. As the DPF continues its outreach efforts, similar engagements in other regions have been conducted to further enhance public awareness and consequently trust in deposit protection mechanisms.

Mr. Ezaga urged participants to ensure that they transact and keep their hard-earned money in regulated financial institutions. He further called upon the media fraternity to caution the public on dealing with unlicensed and unregulated financial institutions and to always pass such important information to the listeners. He further noted that it was crucial for depositors to always ensure that their personal bank details are up-to-date to avoid inconveniences in the event that the institutions in which they kept their money were closed.