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Uganda: Fintechs Taking Charge of Financial Markets – Maggie Kigozi

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Uganda: Fintechs Taking Charge of Financial Markets - Maggie Kigozi

Financial Technology (Fintech) is taking charge of the financial sector, according to Dr Maggie Kigozi, a renowned businesswoman and former Uganda Investment Authority executive director.

Speaking during the Digital Impact Awards Africa in Kampala at the weekend, Dr Kigozi said Fintechs have shown what they can achieve, especially at a time when the world has been presented with a lot of challenges, amid the fight against Covid-19.

“The financial technology ecosystem players [should] continue to work together to address challenges. There are still a few problems here and there but financial inclusion is happening,” she said, noting the young generation has been key in exploiting opportunities that have delivered a number of products and solutions for the larger population.

In the last 10 years, Uganda has experienced rapid growth in financial inclusion, mainly driven by increasing innovations in Fintech and the advent of mobile money.

The Digital Impact Awards Africa organised by HiPipo in partnership with Mojaloop Foundation, Level One Project and UNCDF, seek to recognise individuals and organisations that are spearheading the use of digital mediums to drive financial inclusion.

The awards in which winners are chosen through a jury assessment and public voting process, saw Standard Chartered crowned the digital brand of the year while Stanbic won the best cards payments excellence award. Jumia won the e-commerce innovation excellence award while Centenary Bank won the community bank excellence award.