Interoperability in Mobile Financial Services in Uganda

Interoperability in Mobile Financial Services in Uganda

Friends Consult Limited (FCL) was commissioned by Financial Sector Deepening Uganda (FSDU) in collaboration with Bank of Uganda (BoU) to conduct market research on interoperability in mobile financial services in Uganda. Interoperability is defined as the ability for different systems to connect with one another.

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Next Generation Digital Financial Services in Uganda: Lessons from India Stack

Next Generation Digital Financial Services in Uganda: Lessons from India Stack

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    The objective of next generation digital financial services workshop is to share experiences from the India Stack to spur discussions on the applicability and opportunities for Uganda. India Stack is a unified software platform that allows governments, businesses, startups and developers to utilize a unique digital Infrastructure to solve India’s problems towards presence-less, paperless, and cashless service delivery.

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    Financial Inclusion for Refugees: Laying the Foundation for a Business Case for Financial Industry Players in Uganda

    Financial Inclusion for Refugees: Laying the Foundation for a Business Case for Financial Industry Players in Uganda

    On Friday 8th December, FSD Uganda held a roundtable event in Kampala to provide a platform for stakeholders to discuss Financial Inclusion for Refugees in Uganda. Representatives from financial service providers (FSPs), development partners, donors, and non-governmental organizations (NGOs) shared their experiences in providing refugees with access to formal financial services. Stakeholders also discussed the opportunities and challenges in delivering financial services to refugee settlements.

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    Bitcoin, Tulip Mania and the need to dwell with knowledge

    Bitcoin, Tulip Mania and the need to dwell with knowledge

    Bitcoin, Tulip Mania and the need to dwell with knowledge.

    As I write this on the 20th of December 2017, 1 Bitcoin (BTC) is worth $ 18,969.33. Exactly one month ago, 1BTC was $ 7,773.30 1. That’s a gain in value of 144% or 5% per day. Even more astounding, it was worth about $1,000 at the start of the year and less than a dollar back in 2011. Suffice to say, you are more than likely to hear everyone talk about this at your Christmas day party.

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    MSME Characteristics in Uganda Infographic, 2017

    MSME Characteristics in Uganda Infographic, 2017

    This paper sought to investigate the characteristics of MSMEs and to suggest ways of improving performance, particularly tackling constraints faced by women and youth entrepreneurs in Uganda

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      Agent Network Accelerator Survey: Uganda Country Report 2016

      Agent Network Accelerator Survey: Uganda Country Report 2016

      Agent Accelerator Survey 2016

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        Finance for Micro, Small and Medium-Sized Enterprises Infographics

        Finance for Micro, Small and Medium-Sized Enterprises Infographics

        FINANCE among Micro-Sized, MSMEs, Medium-Sized & Small-sized Enterprises

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          Why you should care about financial inclusion

          Why you should care about financial inclusion

          Starting Monday 30th October for one week, people all over the world are going to celebrate Financial inclusion. According to Center for Financial Inclusion the focus will be on exploring how new financial products and partnerships are empowering customers. While all of this is going on, I imagine the first question anybody would ask, as I often do, is this: Honestly, why should I care about financial inclusion? Here are 4 reasons why:

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          Financial inclusion is vital to end Uganda’s poverty

          Financial inclusion is vital to end Uganda’s poverty

          By Jacqueline Musiitwa,
          Former Executive Director, Financial Sector Deepening Uganda

          The poverty level in Uganda is shockingly high.  According to the Uganda Bureau of Statistics in the 2016/17 Household Survey, about 27% or 10 million people are poor. Although there are many ways to climb out of poverty, access to and usage of financial inclusion is one of the critical.  The Survey also found that about 33% of Ugandans keep money at home or a secret place.  That is the most common way people save money.  This is followed by Village Savings and Loans Associations at 16%.  With such a high number of people excluded from formal financial services, it is hard for them graduate from one income level to another.

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          Financial Inclusion Week 2017 – FSD Uganda Symposium on Financial Inclusion

          Financial Inclusion Week 2017 – FSD Uganda Symposium on Financial Inclusion

          On October 30, 2017, as part of Financial inclusion week running from 30 October to 3 November 2017, FSDU held its first Symposium on Financial Inclusion at the Kampala Serena Hotel. The Symposium was a success attracting over 150 high profile stakeholders from the financial sector in Uganda. The theme for this year’s global financial inclusion week, was “New Products, New Partnerships and New Potential”.

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          Notes from the Frontier: Spurring Refugee Economic Inclusion in Rwanda through Inclusive Financial Products

          Notes from the Frontier: Spurring Refugee Economic Inclusion in Rwanda through Inclusive Financial Products

          Note to reader: For the safety of the refugees and following guidance from UNHCR, no names or pictures have been used in this piece.

          Thursday 2nd November 2017 was the start of a two-day immersion in the Gihembe Refugee camp in Northern Rwanda. Our task – to develop financial services products that are relevant, affordable and accessible to the over 85,000 adult refugees in the country. For many in our party, which included representatives from six leading financial services providers (FSPs) in Rwanda, this was a first visit to a refugee camp. While the previous day’s briefing and clear instructions at the entrance provided some guidance, we really did not know what to expect.

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          Why collaboration and not competition, is key in improving financial services industry in Uganda

          Why collaboration and not competition, is key in improving financial services industry in Uganda

          The financial services industry – banks, mobile network operators, insurance providers and others – have historically sought to work independently in achieving their profitability goals. With the recent global and regional influx of Fintechs – companies that leverage technology and innovation to compete in the financial services marketplace – this industry is getting significantly more competitive. Working collaboratively with fintechs, these bigger and more traditional financial services providers stand to improve their ability to respond to established and emerging challenges to growing their customer numbers and improving their bottomline performance.

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          Consumer Protection: Is your Money Safe?

          Consumer Protection: Is your Money Safe?

          By Joseph Lutwama
          Former Policy, Legal and Regulatory Specialist, Current FSD Uganda Director of Programs

          Can my money ever be safe? Can I trust the bank to keep my money safe? I am sure at some point in your life you have asked yourself these questions when deciding where to keep your money. Five out of every ten adult Ugandans keep their money at home in a “safe place”. Only 5 out of 100 adult Ugandans actually keep their money in a commercial bank.

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          Launch of Fintech Association a milestone for Uganda’s financial inclusion agenda

          Launch of Fintech Association a milestone for Uganda’s financial inclusion agenda

          FinTech Association of Uganda in partnership with Financial Sector Deepening Uganda (FSDU) launched the FinTech Association of Uganda at the Sheraton Kampala Hotel on August 31, 2017.

          The emergence and increasing dominance of mobile money in Uganda has resulted in the development of digital financial services. Though still at infancy, digital financial services present immense opportunities for financial inclusion. FinTech activities go beyond mobile money aggregation services to include broader technology solutions that can deliver affordable and high quality financial products and services. Whereas FinTech has revolutionised the financial sector in developed markets, it is only beginning to take root in emerging markets. In Africa, it is also beginning to gain traction, starting with South Africa, Nigeria, Egypt, Kenya and now Uganda.

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          The case of Mobile Money innovation in Uganda

          The case of Mobile Money innovation in Uganda

          Undeniably, a lot has been said as well as written about mobile money. However, it seems there is still some unfinished business related to the topic of mobile money. This unfinished business explains why there is still an ongoing debate about the effect of mobile money on an economy, in this case the economy of Uganda. I found this debate a very intriguing one and I got tempted to contribute to it, particularly from the perspective of inclusiveness and poverty reduction. I would like to rebuff the line of thinking that mobile money has adverse effects on the economy and instead reiterate the counter argument that mobile money has already been playing significant roles, which are quite relevant in the quest for economic transformation and mass poverty reduction.

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          Trade, Poverty and Pencils

          Trade, Poverty and Pencils

          At the time of writing this piece, 13 July 2017, the Great Lakes Summit will be taking place in Munyonyo for two days. According to the website, Kampala will play host to a gathering of politicians, businesses and pro-market advocates from Europe, East Africa and beyond. The summit will explore the vast opportunities for greater trade and investment in the region: and make the ethical case for free trade as a means for poverty alleviation, conflict resolution and social justice”

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