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Annual Bankers’ Conference to focus on role of fintechs in Uganda’s banking sector

The 2023 Annual Bankers’ Conference scheduled on the August 14th and 15th of 2023 will focus on discussing how trends and innovations in the fintech space are changing the face of banking and financial services, officials have said.

The conference is geared under the theme: ā€˜The trends and innovations in the fintech space, changing the face of banking and financial services.’

The two-day conference will take place at the Kampala Serena Hotel, with Mastercard returning as the title sponsor for the sixth consecutive year. MTN Uganda, Raxio Data Centre, Interswitch, Check Point Software, iFortify and eLAAB are the other sponsors.

Sarah Arapta, UBA Chairperson and CEO Citibank Uganda, said this year’s event will take stock of the contribution that fintechs and other players in the financial ecosystem such as mobile network operators make towards the growth and transformation of banking and financial services.

The conference will speak about the trends in the fintech space, the regulatory environment, and opportunities within the entire spectrum, she said.

ā€œFintech has opened unprecedented space and continues to grow, expand, and drive change. These dynamics present a great opportunity for partnership and collaboration to drive financial inclusion and enable all individuals and businesses to have access & use affordable and appropriate financial products and services, ultimately promoting socio-economic transformation,ā€ Arapta said.

She said the two-day conference will include an opening address by the Deputy Governor, the Permanent Secretary of the ICT Ministry, as well as panel sessions anchored by other regulators, banks, fintechs in the telecom space, data centre managers and cyber security experts.

Wilbrod Owor, the ED at UBA, said: ā€œThe industry as a whole with no doubt recognises the huge contributions that fintechs and all the other players in the ecosystem have played. They are enablers, using technology for the financial sector to reach previously unserved areas.ā€

ā€œThis year’s session will be rich, not just because of the trends in fintech but also coping with the regulatory space and the changes brought about by technology. This change has also come about with risk and cyber and other forms of fraud and the banking sector is under constant attack with people attempting to penetrate the systems 24/7. We shall have different speakers not just sharing experiences but shaping the discussions from a way forward point of view,ā€ he added.

ā€œWe think that in this part of the world, technology can leapfrog our countries and we do not have to go through the various stages of development. Just the fact that we can bring people who were outside the money economy is itself a benefit for our country,ā€ he added.

Richard Yego, CEO MTN Mobile Money Limited, said, ā€œThis is the first time we are participating as both MTN MoMo and MTN Uganda. This year’s theme resonates with us because we are a technology company but specifically a fintech. This to us is very dear because we are building the largest fintech platform. The banks under UBA remain our key pillar to the delivery of financial services to the last mile. It is very crucial that we do collaborate and this comes in handy with the Annual Bankers’ Conference starting on the 14th and 15th of August.ā€

 ā€œWe look forward to actively supporting the initiatives that the financial sector is going to pursue going forward today and beyond. In terms of the impact we have seen in the ecosystem we provide, we have been able to ease access to liquidity to over 30,000 bank agents countrywide, thanks to the Agent Banking Platform that was introduced in 2018,ā€ he added.

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World Bank suspends new public financing to Uganda over Anti-Homosexuality law

The World Bank has suspended new public financing to Uganda because of the Anti-homosexuality law.

ā€œUganda’s Anti-Homosexuality Act fundamentally contradicts the World Bank Group’s values. We believe our vision to eradicate poverty on a livable planet can only succeed if it includes everyone irrespective of race, gender, or sexuality. This law undermines those efforts. Inclusion and non-discrimination sit at the heart of our work around the world,ā€ World Bank stated.

ā€œImmediately after the law was enacted, the World Bank deployed a team to Uganda to review our portfolio in the context of the new legislation. That review determined additional measures are necessary to ensure projects are implemented in alignment with our environmental and social standards,ā€ World Bank added.

The World Bank further stated that their goal is to protect sexual and gender minorities from discrimination and exclusion in the projects the finance. These measures are currently under discussion with the authorities.

ā€œNo new public financing to Uganda will be presented to our Board of Executive Directors until the efficacy of the additional measures has been tested,ā€ World Bank confirmed.

The Third-party monitoring and grievance redress mechanisms will significantly increase, allowing the bank to take corrective action as necessary.

Museveni, who has referred to homosexuality as a psychological disorder, has rejected international criticism of the legislation, which he has defended as necessary to stop the LGBTQ community from trying to ā€œrecruitā€ people.

The World Bank Group has a longstanding and productive relationship with Uganda; and we remain committed to helping all Ugandans—without exception—escape poverty, access vital services, and improve their lives.

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Anti-homosexuality Act does not forbid any person from seeking medical services- MOH

Dr. Mwebesa

The Ministry of Health has warned public and private health centers from discriminating against any citizen from accessing the medical services.

Dr. Henry Mwebesa, Director General Health Services said that the constitution of the Republic of Uganda recognizes that health is a fundamental right and guarantees access to health services for all.

ā€œThis is to reiterate that the Anti-homosexuality Act, 2023 does not forbid any person from seeking medical services from a health facility or hospital,ā€ Dr. Mwebesa said.

He added that all services should be provided in a manner that ensures safety, privacy and confidentiality to all clients that seek health services in all public and private health facilities. 

ā€œThe ministry of health is mandated to provide Preventive, Promotive, curative and rehabilitative Health services to all people in Uganda in their diversity without any form of discrimination,ā€ he guided.

He urged that patient rights and ethical values, confidentiality, privacy, patient safety as stipulated in the patients’ charter should be upheld each time a patient seeks health care services at your facility.

He added, ā€œAll health centers should not discriminate or stigmatize any individual who seeks healthcare for any reason- gender, tribe, economic or social or sexual orientation.ā€

The Anti- Homosexuality Bill was passed by Parliament of Uganda on 02 May 2023 and it includes penalties up to life imprisonment for consensual same-sex relations and capital punishment for crimes of ā€œaggravated homosexualityā€ (such as serial offenders). Youths under the age of 18 could be prosecuted and imprisoned for multi-year sentences. LGBTQI+ persons, including youth, may be subject to forced conversion therapy.

However, the homosexuals in Uganda are seen as a misfit in the society and fear to disclose themselves.

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Court orders for arrest of former UNBS boss

ON SUSPENSION: David Livingstone Ebiru, the Executive Director UNBS.

The Anti-Corruption Court has issued an order for the arrest of the former Executive Director of Uganda National Bureau of Standards (UNBS) Livingstone Ebiru, for failure to appear before court.

He is required to appear in court on August 31, 2023, to address corruption charges.

Ebiru was last week sacked from the job for alleged bribing of UNBS board members with Shs100 million to keep his contract.

Appearing before the Parliamentary Committee on Commissions, Statutory Authorities, and State Enterprises (COSASE) last week, Ebiru admitted to bribing the entity’s board with Shs100 million to retain his job.

The committee is investigating Ebiru, the Executive for misappropriating Shs12.5 billion. During the committee proceedings, the Chairperson of the Board of UNBS, Charles Musekuura said that the Ebiru had caused financial loss at the entity and was at the helm of corruption and numerous irregularities.

He revealed that out of the total $4.9 million in the account, only $1.5 million had been sent to the consolidated fund, while the remaining $3.4 million was converted and utilised to support the bureau’s operations at its source under the authority of the director.

ā€œThe $3.4 million was used at the source which, to my understanding, was contrary to the law and I am mindful that whatever it is that I have to do at the bureau, I am guided by the law,ā€ Musekuura said.

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South Africa’s Ithuba enters Uganda betting industry

Finance Minister Matia Kasaija and Ithuba Uganda Limited board chairperson Bob Kabonera at the signing ceremony. Looking on is NLGRB board chairman Aloysius Mugasa Adyeri.

Government through Ministry of Finance and Economic Planning has signed a 10-year contract with Ithuba Holdings Limited to run Uganda National Lottery.

Through their local company, Ithuba Uganda Limited was issued with a license and this marked the start of business in Uganda.

Ministry of Finance through National Lotteries and Gaming Regulatory Board issued the licence to Ithuba Uganda Limited.

The Nation Lottery is one of the tools conducted by or on balf of the Ministry responsible for finance with a view of raising funds for defined purposes.

Finance Minister, Matia Kasaija welcomed issuance of signing of the national lottery agreement with Ithuba Uganda Limited. He said the above initiative shall support the implementation of the national budget, national development plan and good causes in areas of public infrastructures, education, health and sports development.

ā€œEffective today, the government of Uganda will partner with Ithuba Uganda Limited to conduct the National Lottery for an exclusive period of ten years subject to annual licence conditions and fulfillment of conditions stated in the agreement and the laws of the Republic of Ugandaā€ Minister Kasaija said at the signing ceremony that took place at the Ministry headquarters.

Kasaija further called on Ugandans to participate in National Lottery to enable government to achieve the above objectives.

Ithuba Uganda Limited board chairperson Bob Kabonero said the issuance of the licence and official signing of the partnership between Ithuba and Uganda Government is a significant milestone.

ā€œThe Uganda National Lottery signifies a new era of progress and possibilities with its multifaceted capacity to contribute to the gross domestic product, propagate job creation and wealthā€ Businessman Kabonero said.

He said in recognizing the youth as a driving force of this nation, they acknowledge that the National Lottery can play a pivotal role in nurturing underdeveloped yet widely cherished sectors that include recreational sports, the arts, and youth programmes.

NLGRB board chairperson Aloysius Mugasa Adyeri revealed that Ithuba Uganda Limited had secured irrevocable funding to fiancƩ the operation of the National lottery as it shall construct an in-country data centre.

ā€œAs a board, we are confident that the National Lottery shall contribute significantly to raising the required revenue for funding government programmes but also promote social responsibility through its operationsā€

NLGRB Acting Chief Executive Officer Mr Denis Mudene Ngabirano said the journey to bring Ithuba on board started in December 2021 in their quest for a suitable candidate to conduct the National Lottery.

ā€œOur due diligence process was thorough and exhaustive. Ā We assessed Ithuba Uganda Limited’s track record, financial stability, expertise and their commitment to responsible gaming practices which has always been at the core of our mandate. We also scrutinized their operational procedures, security measures and player protection policiesā€. Mr Ngabirano said.

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Climate change to headline upcoming Annual National Youth Parliament

Parliament of Uganda

Parliament of Uganda is set to host the Sixth sitting of the National Youth Parliament on Friday August 11, 2023.

The sitting that is expected to bring together 250 participants will be held under n the theme, ‘Green skills for youth: Towards a sustainable world’.

The annual event that has been running since 2018 is organised by Faraja Africa Foundation with support from the European Union (EU) and the German Corporation for International Cooperation (GIZ).

While addressing the media on the upcoming event, the Chairperson of the Uganda Parliamentary Forum on Youth Affairs, Phiona Nyamutoro said the event will foster participation of youth in governance and democratic processes.

Nyamutoro, who is also the Female Youth Representative added that the deliberations from the National Youth Parliament will inform a petition that will be presented to the Speaker of Parliament.

ā€œWe look forward to hearing the voices of the young people amplified as well as getting their ideas centralised in government planning and processes,ā€ said Nyamutoro.

She commended Faraja Africa Foundation for organising the event which she said makes the work of Youth MPs in Parliament easier through having voices channeled from the grassroots.

ā€œSome of the resolutions that come out of the Youth Parliament get to the Floor of Parliament as motions and some are sent to committees for further scrutiny. The Speaker can also direct relevant ministries to take action on some of the matters,ā€ Nyamutoro added.

The Executive Director of Faraja Africa Foundation, Emmanuel Wabwire said the event is an advocacy space that has hosted regional parliaments in different parts of the country ahead of the national sitting.

ā€œOne of the key things we believe in is amplifying young people’s voices, not speaking for them. We give them a platform to speak and advocate for the issues they face,ā€ he said.

He also commended the Uganda Parliamentary Forum on Youth Affairs for leading the voices of the youth in Parliament.

ā€œWe also extend our gratitude to the Speaker and Clerk to Parliament for graciously granting us a safe space to advocate for youth matters,ā€ Wabwire added.

He said that the theme focusing on climate change issues is a call on government and development partners to put resources and create opportunities for young people to get skills on tackling climate challenges.

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Uganda police, Rajagiri Hospital partner to provide specialized medical services to officers

Uganda Police Force (UPF) and Rajagiri Hospital based in Koch –India have partnered to provide specialized medical services to the personnel of the Uganda Police Force.

SCP Enanga Fred, Police Spokesperson revealed that a police delegation led by the Inspector General of Police (IGP), Martin Okoth Ochola will be travelling to Kochi -India, to finalize the signing of the Memorandum of Understanding between the Uganda Police Force and Rajagiri Hospital.

SCP Enanga said that this is a significant welfare step, where Rajagiri hospital in fostering partnerships and cooperation with the UPF, will offer the medical services at very friendly rates.

ā€œIt is our vision that every police officer deserves the right to compassion, dignity, respect and comfort as they work,ā€ Enanga said.

He added, ā€œWe are proud of this valuable partnership as it will add to our significant contributions to the UPF’s health services. The agreement will guarantee the delivery of the highest levels of advanced healthcare to the beneficiaries at Rajagiri Hospitals.ā€

He further revealed that Uganda Police is happy to fulfill its social responsibility obligations by providing and attending to the needs of the police staff. Arrangements will be made for the police officers requiring medical assistance and treatment to attain it at Rajagiri.

ā€œThe full details of the strategic partnership and framework for cooperation, between the UPF and Rajagiri Hospital, India, will be shared, after the signing of the Memorandum of Understanding,ā€ he noted

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FDC sacks Ssemujju Nganda as party Chief Whip

MP Ssemujju Nganda.

The Forum for Democratic Change Party (FDC) has sacked their Parliamentary Chief Whip Ibrahim Ssemujju Nganda and immediately appointed Mawokota South legislator Yusuf Nsibambi as his replacement.

In a letter dated August 7, 2023 from the party Secretary General, Nathan Nandala Mafabi the party withdrew Ssemujju with immediate effect.

 ā€œIn accordance with section 6J (1), the party hereby appoints Yusuf Nsibambi as the party Whip of the Forum for Democratic Change Party (FDC) to replace Ibrahim Ssemujju Nganda,ā€ the letter directed.

Ssemujju’s sacking comes at the time when he and others led by former party strongman Kizza Besigye have accused the leadership of the party for receiving money from unknown sources to fund the 2021 general elections.

The Kira Municipality legislator who doubles as the party spokesperson has been critical of the Najjanakumbi leadership accusing them of dictatorial tendencies on how they are running the party.

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Over 35 Agribusiness entrepreneurs graduate under the Business Accelerator Program

Atleast 36 Agribusiness entrepreneurs have graduated under the Business Accelerator Program (BAP) implemented by Agribusiness Development Centre (ADC) in collaboration with GOPA Worldwide Consultants and powered by dfcu Limited and Rabo Foundation.
The program aims at equiping participants with essential business skills and mentorship to drive investor attractiveness, optimize operations, enhance marketing, and seize networking opportunities.
Launched in February 2023, the 2nd and 3rd cohorts of the Business Accelerator Program saw active participation from 110 participants representing 59 enterprises. Throughout the intensive training and mentorship sessions, the program focused on propelling agribusinesses from ideation phase to sustainable growth, ultimately attracting markets and funding for their operations.
ADC, in partnership with dfcu Limited and Rabo Foundation, initiated the Business Accelerator Program in 2018, seeking to support agribusinesses in unlocking their full potential and fostering growth and sustainability. The recent graduation ceremony at dfcu Bank’s Head Offices in Nakasero marked a significant milestone in the entrepreneurs’ journey towards success.
Addressing the graduates as the guest of Honor, Geraldine Ssali Busuulwa, the Permanent Secretary of Uganda Ministry of Trade, Industry, and Cooperatives, emphasized the importance of returning to the cooperative model to facilitate mass production. She encouraged investment in decontamination technology and improved packaging for agricultural products, while stressing the need for affordable credit access to ensure sustainable growth for farmers.
Ms. Josephine Mukumbya, the Executive Director of ADC, expressed her gratitude to all stakeholders, including GIZ, GOPA Worldwide Consultants, ECOS (funded by GIZ), and dfcu Bank, for their invaluable partnership and unwavering support in empowering agribusinesses to achieve their growth objectives.
Speaking at the award event, Charles Mudiwa, CEO of dfcu Bank, underscored the significance of investing in agribusiness to secure food supply for humanity. He encouraged entrepreneurs to think of large-scale production and emphasized the need to find markets for their products.
Mudiwa also challenged the entrepreneurs on the issue of finding markets. He mentioned that in addition to financing agricultural projects, dfcu has recently announced a partnership with Rabo Bank and Master Card to create a platform for agribusiness entrepreneurs to have access to markets for their products. Mudiwa also highlighted dfcu’s recent partnership with RaboBank and Mastercard, which will create a platform for agribusiness entrepreneurs to access markets and further their growth. He said, ā€œIt is important to invest in Agribusiness because food supply is very important for the existence of humanity.ā€
He further highlighted that it is important for farmers to think of large-scale production saying, ā€œIt is good to start small, but we have to grow and become big producers.ā€
Karim Boven, the ADC patron, and Ambassador of the Kingdom of Netherlands commended the pivotal role of farming in wealth creation and propelling Uganda’s economy to new heights.
dfcu Bank has a long history of supporting the agricultural sector as evidenced by its diverse initiatives, such as Harvest Money, Best Farmers Awards, and patronage of the Agribusiness Development Centre.
The Bank has forged strategic partnerships with Mastercard, Rabo Partnerships, the Royal Dutch Embassy, Aceli Africa and GOPA – to drive skilling of its staff as well as various players in the agribusiness value chain.
Through these initiatives and partnerships, dfcu Bank continues to pave the way for a sustainable and prosperous future for Uganda’s agricultural landscape.

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Besigye clarifies on Shs 300 million he received form Nandala Mafabi

Dr. Kiiza Besigye, the former FDC president

The former presidential candidate Dr. Kiiza Besigye has revealed that there is a coup in the party, and it’s now moving on decrees. Besigye said while responding to the elders’ committee report which was released last week.
Currently there has been an ongoing battle between the Amuriat and Party Secretary General Nandala Mafabi and the former party President Dr Kizza Besigye. Besigye accuses Amuriat of getting money from the ruling party, the National Resistance Movement (NRM) to finance his campaigns.
Besigye said the task given to the FDC Elders Committee was strange. Their main task was to reconcile him and Nandala to bring harmony to the party.
ā€œI did not have and don’t have any personal issues with Nandala Mafabi. In fact, until this money issue arose, I considered him not just a colleague but a friend. It was on that basis that he entrusted me with Shs 300 million. I told the Elders Committee that there are no issues between me and Nandala that merit reconciliation,ā€ Besigye said.
ā€œI pointed out to the National Council that formed the Committee and told them that the two things they needed to look at were where the money came from and the management of the party. I narrated to the Committee incidents from the time Nandala entrusted me with his Shs 300 million up to the time I reported to the National Council,ā€ he said.
ā€œNandala told me he was giving me the money because he feared the revenue authority. They were demanding money from his companies and if he placed it on his accounts the authority would pounce on it and it would be difficult to recover it,ā€ he stated.
He said; ā€œI told Nandala that my home was not secure. My home is always being surrounded and sometimes searched. I told him I could not keep the money with. My first concern came with the arrival of the money. The money arrived at my home at 10 pm. Nandala rang me saying that ā€œThe other thing we talked about is about to arrive.ā€
ā€œI asked him where the money was passing because there was a curfew at the time and people were not allowed to move. He told me not to worry and before long his driver alone handed me a big box of money. After failing to make progress with this Shs 300 million and after consulting with my colleagues on the problematic money, we had taken the decision to return it. However, there was the hullabaloo of elections going on,ā€ he said.
He claimed that that money was later given back to the Nandala and team and they received it from his petrol station in Nsambya.

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