KCB Bank Uganda has been thrown into the spotlight after a rare system malfunction triggered what industry insiders are calling one of the biggest “cash bonanzas” in Uganda’s banking history.Over the weekend, between midday and midnight, the bank’s agent banking platform reportedly went rogue—dishing out far more money than agents had requested. Across the country, agents walked away with unexpected windfalls, with some allegedly taking off after pocketing the accidental bounty.The Bonanza UnleashedAccording to sources familiar with the incident, withdrawals and transfers conducted through KCB’s agent banking outlets were paying out inflated amounts. Instead of the amounts keyed in, agents received multiple times more—effectively turning banking halls and kiosks into one-night-only jackpot machines.The scale of the cash bonanza is still under wraps, but experts say the loss could stretch into billions of shillings, given the number of agents involved nationwide. Several agents are said to have vanished with the money, while others are now under investigation by law enforcement.Bank Moves to Recover CashThe glitch has since been fixed and services restored, but the bank now faces the uphill task of clawing back the money. Insiders say digital footprints left by the erroneous payouts will aid recovery, though it remains unclear how much can realistically be recouped.Questions LingerWhile the bank insists deposits are safe, key questions remain unanswered: Was this a technical error, a cyberattack, or insider sabotage? How much money was actually lost? And how much of the bonanza cash can the bank realistically recover from agents who may already have vanished into thin air?Analysts warn that the incident could shake confidence in agent banking, a cornerstone of Uganda’s financial inclusion drive. #The sector has been processing billions in monthly transactions, and a breach of this magnitude underscores the vulnerabilities of digital banking systems.Bigger PictureFor KCB Bank, a regional heavyweight with ambitions of deeper penetration in Uganda, this scandal is a stress test for its reputation. Stakeholders will be watching not just for transparency in disclosing the scale of the losses, but also for proof that systemic loopholes have been sealed.For now, the “cash bonanza” remains the talk of the town—an unexpected windfall for some, a billion-shilling headache for KCB, and a cautionary tale for the wider banking industry.The post Billion-Shilling Cash Bonanza Rocks KCB Bank Uganda After System Glitch appeared first on The Insider.