FITSPA Uganda

Huge Congratulations 🎉 to our esteemed FITSPA members, aXiom Zorn and maalicard, on their remarkable selection for LHOFT's Catapult: Inclusion Africa Acceleration Program! This is a proud moment for Uganda's fintech ecosystem! Wishing them an impactful bootcamp & continued success.🥂

It's been a busy year at #LHoFT! We’ve just finished Catapult: Inclusion Ukraine and now, we’re getting ready to kick off our flagship Acceleration Program 𝗖𝗮𝘁𝗮𝗽𝘂𝗹𝘁: 𝗜𝗻𝗰𝗹𝘂𝘀𝗶𝗼𝗻 𝗔𝗙𝗥𝗜𝗖𝗔 - 𝟳𝘁𝗵 𝗘𝗱𝗶𝘁𝗶𝗼𝗻 🌍 November 11-15, 2024 | We’re gathering 10 inspiring #Fintech innovators for a bootcamp focused on making an impact, growing their ventures, and finding funding, thanks to support from the 𝗗𝗶𝗿𝗲𝗰𝘁𝗼𝗿𝗮𝘁𝗲 𝗳𝗼𝗿 𝗖𝗼𝗼𝗽𝗲𝗿𝗮𝘁𝗶𝗼𝗻 𝗮𝗻𝗱 𝗛𝘂𝗺𝗮𝗻𝗶𝘁𝗮𝗿𝗶𝗮𝗻 𝗔𝗳𝗳𝗮𝗶𝗿𝘀. Welcome to our Catapulters: ◇ (🇺🇬 Uganda) - aXiom Zorn: Data solutions for better decisions in African agriculture, health, and nutrition, with real-time analytics, dashboards, and GPS mapping. ◇ (🇨🇲 Cameroon) - BEE: Mobility fintech democratising financial access in Africa, starting with asset financing for commercial drivers. ◇ (🇳🇬 Nigeria) - BettaLyfe: Empowers individuals and small businesses with access to health insurance, micro-pensions, and loans. ◇ (🇿🇲 Zambia) - LendingScape Limited: Innovative digital lending solutions designed for the unique needs of underserved and underbanked businesses. ◇ (🇺🇬 Uganda) - maalicard: Digital financial services to the unbanked through its online wallet, Maalipot, and prepaid debit card, Maalicard. ◇ (🇲🇼 Malawi) - MicroInsurance Services Limited : Affordable credit life and health insurance for rural communities via micro-finance partnerships. ◇ (🇬🇭 Ghana) - Naa Sika: e-Micro Bank delivers essential banking services to the informal sector and underserved African youth. ◇ (🇰🇪 Kenya) - Oye Kenya : Oye empowers moto-taxi drivers by providing financial services that cut monthly costs by up to 15%. ◇ (🇳🇬 Nigeria) - Riwe: Agri-Insurtech startup offering satellite-based advisory and affordable insurance to protect farmers in underserved African communities. ◇ (🇰🇪 Kenya) - #ShopOkoa: Building a united financial ecosystem for Africa’s SMEs, equipping them with accessible credit to drive growth, job creation, and shared prosperity. 🔗 Learn more: https://lnkd.in/gJ8K88gx #CatapultInclusionAfrica #Fintech #FinancialInclusion #Luxembourg The LHoFT - Luxembourg House of Financial Technology, Ministry of Foreign and European Affairs, Defence, Development Cooperation and Foreign Trade Louis de Muyser, Paul Weber | Annabelle Albert-Fonteneau, Alex Panican, Nasir Zubairi, Antony Martini | Carol Kyazze Kakooza Afolabi Kilaso Patrick Timani Mzondiwe Mwanza ROBERT M.J. KINTU Gift Livata Ralph Menz Kevin Mutiso Chigozirim Israel KELVIN MULAMA

Nominees for FinTech Start-up of the Year | #DIAA2024 1. Fido 2. Kawu 3. PAYTOTA 4. PesaJet 5. Zimba Technologies Vote Now: https://lnkd.in/dZJ2ztgj #LevelOneProject #IncludeEveryone

#NewMemberAnnouncement Warm Welcome to Metropol CRB, our Newest Gold Member! We're excited to announce the addition of Metropol CRB Metropol Credit Reference Bureau (#CRB) to the FITSPA community! Metropol CRB revolutionizes #credit risk management in Uganda by providing comprehensive services to financial institutions, trade credit providers, utility companies and insurance companies. Their cutting-edge solutions enable lenders to assess borrower creditworthiness, make #data-driven decisions, enhance efficiency, minimize default risk and maximize profits. This, in turn, supports economic growth and financial inclusion. Metropol empowers individuals and businesses with tools to negotiate favorable credit terms and manage credit effectively, improving overall financial well-being. Their advanced #Credit #Scoring and #Ratings system evaluates borrower creditworthiness, providing lenders with actionable insights to inform lending decisions. As a licensed Credit Reference Bureau, Metropol plays a vital role in Uganda's financial ecosystem, facilitating secure credit data sharing and informed lending decisions. Their expertise supports regulated financial institutions, including commercial banks, credit institutions and microfinance deposit-taking institutions. Learn more about Metropol CRB at: https://metropol.co.ug/ #CreditReferencing #FintechUganda

🌟 Exciting News: DFCU Bank’s ChequePoint V6.0 Goes Live! 🌟 We’re thrilled to announce the successful go-live of ChequePoint V6.0 with dfcu Bank! This latest version of our comprehensive cheque-clearing solution sets new standards in operational efficiency, risk management, and enhanced customer experience. Through ChequePoint V6.0, dfcu Bank is now equipped with advanced features that streamline cheque processing, improve accuracy, and support compliance with evolving financial regulations. These enhancements further our shared mission of delivering seamless, secure, timely banking solutions for regional clients. Congratulations to the incredible teams at dfcu Bank and Fintech-Group for their dedication and expertise in achieving this milestone! Together, we continue to innovate, transform financial solutions, and contribute to a digitally empowered future. For more information on Chequepoint Version 6.0, email sales@fintech-group.com #FintechInnovation #ChequePoint #DFCU #DigitalTransformation #FintechGroup #BankingTechnology dfcu Bank NBS Fintech Association Of Kenya Uganda Revenue Authority (URA) Fintech-Group FITSPA Uganda

Highlights reflecting the evolving dynamics of Uganda’s #FinTech industry & its potential to drive financial inclusion & economic development from the "State of the FinTech Industry in Uganda 2024" report we recently published with KPMG East Africa. The full #FITSPAFintechReport2024 is available for download on our website at https://lnkd.in/dAjDPAvG Uganda's FinTech ecosystem has grown significantly, driven by a youthful tech-savvy population. The industry plays a crucial role in addressing the financial needs of the unbanked & underbanked, contributing to a financial inclusion rate of 68%. Key areas of growth include mobile money, digital wallets, & microloans. Key Trends: 🔹There is a rise in partnerships between FinTechs, traditional banks, telecom companies, & microfinance institutions to expand & improve access to financial services. 🔹Technologies such as Artificial intelligence, blockchain, & open APIs are being leveraged to enhance the delivery of financial services. 🔹Cross-border payment solutions & digital lending platforms are on the rise, promoting further inclusion and innovation. Regulatory Environment: Uganda’s regulatory framework, including the National Payment Systems Act (2020) and the Bank of Uganda's regulatory sandbox, supports FinTech innovation while ensuring compliance & consumer protection. However, the sector faces challenges such as high compliance costs, complex licensing processes, & cybersecurity risks. Challenges: 🔹The primary challenge for at least 83% of fintech companies in Uganda is access to investment capital, largely due to market volatility. 🔹Limited infrastructure in rural areas, low smartphone penetration & restricted access to the internet hinder the expansion of digital financial services. 🔹Smaller FinTechs face fierce competition from larger players & lack of access to open APIs are key barriers to growth. 🔹High compliance costs & regulatory complexity slow innovation and market entry. Opportunities: 🔹The rise of open banking & API integration presents new opportunities for collaboration between banks & FinTechs. 🔹Expanding digital payment solutions, targeting youth & underserved markets, along with the integration of emerging technologies offers substantial growth potential. 🔹Cross-border payment solutions & improvements in digital infrastructure are critical areas for future development. Recommendations: 🔹Strengthen collaboration between FinTechs, regulators, & traditional financial institutions to drive growth and innovation. 🔹Enhance digital infrastructure & financial literacy to encourage wider adoption of FinTech services. 🔹Simplify regulatory processes & reduce compliance costs to create a more supportive environment for startups & smaller FinTech companies. Uganda Microfinance Regulatory Authority (UMRA), Capital Market Authority, Nita Uganda, Uganda Communications Commission, Financial Intelligence Authority, IRA UGANDA, Bank of Uganda #FITSPAFintechReport

Today for our #MemberMoment, we are excited to spotlight our member, PesaKit , a fintech company dedicated to bridging financial gaps and enhancing the well-being of underserved communities, empowering them to thrive. #PesaKit is a super-platform that allows #mobile money #agents to serve as last-mile distribution channels for #digital and #financial services. By providing working #capital #loans and access to new revenue streams, PesaKit supports agents' growth and strengthens their communities. PesaKit offers mobile money agents and merchants quick access to working capital loans. With a user-friendly app, agents can monitor their #credit scores, which improve with each transaction. This allows them to apply for loans tailored to their business needs, ensuring their growth and prosperity. Additionally, PesaKit offers comprehensive micro-insurance solutions. Users benefit from health insurance, bereavement cash benefits, and daily financial support during hospitalization. To learn more about PesaKit, visit: https://www.pesakit.ai/

#FITSPAUpdate Big News! The wait is over! Get your hands on our brand-new "State of the Fintech Industry in Uganda Report 2024" #FITSPAFintechReport2024 Now available on our website at https://lnkd.in/dAjDPAvG This deep dive explores the current landscape, future trends, and everything in between. Download it to get the scoop on Uganda's thriving fintech ecosystem such as; 1. 📈Industry growth and trends 2. ⚖️Regulatory landscape 3. 🍀Challenges and Opportunities 4. ✅The impact of FinTech on financial inclusion & economic development 5. 🌍Where Uganda stands compared to the world Our heartfelt gratitude goes out to our partners at KPMG East Africa, as this report would not have been possible without their support. We also appreciate the contributions of all members, partners, consultants, industry regulators, and stakeholders who collaborated on this project. #FITSPAFintechReport #FintechUganda #Fintech #Uganda

This is one of the best sessions i have heard. David Birch we aint letting AI replace you.🤭 Another point to you FITSPA Uganda 👏👏

Henry Kevin Wava is not just another financial expert. With over 20 years of navigating the complex world of credit risk, capital markets and financial management, Henry has unlocked value where others see risk. As the Managing Partner at Sunbelt Holdings Limited, he’s leading the charge to make data the new currency in Uganda’s growing #DigitalEconomy. At the #InauguralNationalICTSummit, Henry will be discussing the #DigitalEconomy for Inclusive Growth. More than just talk, it’s about unlocking hidden value through data-driven innovation. Join the transformation https://lnkd.in/dKnJJ_dh #ICTAUAt10 #NationalICTSummitUG #DataIsCurrency #DigitalEconomy #InclusiveGrowth