FSDU signs MoU with Uganda Bankers Association (UBA) to Increase Financial Inclusion.
FSD Uganda and the Uganda Bankers Association have entered into a partnership to improve, extend and strengthen access into financial services with specific focus on undeserved
At the signing ceremony, Mr. Christopher Musoke, the Chief Executive Officer, FSD Uganda said “FSD Uganda is committed to supporting an inclusive financial sector in Uganda, and the cooperation with UBA will offer a good opportunity to work closely with formal financial services providers to achieve this objective. Creating awareness and understanding of new financial services delivery models such as Agency Banking is key to achieving financial inclusion and enhancing livelihood opportunities for low income people.”
Mr. Emmanuel Kikoni, the Executive Director Uganda Bankers Association noted that “Uganda has a high level of financial exclusion with an estimated 15% of the adult population not having a bank account. For this to change, financial services need to be tailored to suit the needs of low income households in order to achieve inclusive growth and reduction of both poverty and vulnerability.”
The MoU provides for FSD Uganda extending financial and technical expertise to support various UBA initiatives that promote stakeholder led, research driven services that will increase financial inclusion. The partnership will include working with UBA to strengthen it to serve its members better.
FSD Uganda supports innovation, conducts research and helps promote and improve policy, laws and regulation that shape the financial sector. Our objective is a deeper, broader and more inclusive financial sector in Uganda.