CBK’s Njoroge to headline Uganda bankers talks

July 13, 2021 in Business, Finance, Financial Services by Editor

Owor (centre) said this year’s annual banker’s conference aims at analyzing the key issues affecting the banking sector and offer recommendations to shape how the sector runs and the interventions required. On the left is Patricia Amito, the UBA Head Communications and Corporate Affairs while seated right is Eva Ssewagudde, the UBA Director Strategy and Innovation.

This year’s Uganda Bankers Association( UBA) annual conference is scheduled for July 26 and 27 in a mix of virtual and physical sessions under the theme, ‘Bend but don’t break: How the financial sector can thrive in the era of the 4^th Industrial Revolution (4IR)’.

Dr. Patrick Njoroge, the Governor of the Central Bank of Kenya will give the keynote address which comes when the financial industry, like many other sectors of the economy, grapple with the knock-on effects of the Covid-19 pandemic.

Speaking at a news conference earlier today, Mathias Katamba, UBA Chairman said,  “This year’s event will be delivered virtually and aim to facilitate a focused discussion among key players and industry stakeholders regarding the 4^th Industrial Revolution. It will highlight among other emerging trends and developments the future outlook in the payments space, confronting fraud and cyber security risks; redefining financial inclusion and deepening access to financial services and harnessing opportunities from the unprecedented processing power and storage capacity in 4IR.”

UBA is an umbrella organization for financial institutions licensed and supervised by Bank of Uganda. It was established in 1981 and current membership is made up of 24 commercial banks, two development banks (Uganda Development Bank and the East African Development Bank and nine Tier 2 and Tier 3 micro deposit and micro finance institutions.

Other notable speakers will include senior government ministers, technocrats and Prof. Emmanuel Tumusiime Mutebile, Governor, Bank of Uganda. As usual, panel discussions on topical issues affecting the industry as it pertains to 4IR have also be organised.

4IR is characterized by the fusion of the digital, biological, and physical worlds, as well as the growing utilization of new technologies such as artificial intelligence, cloud computing, robotics, 3D printing, the Internet of Things, and advanced wireless technologies,

“We expect that the output from the conference to include forward looking insights that will inform current and future industry decisions on deployment of technology and the much-needed collaboration,” Katamba said.

Wilbrod Owor, the UBA Executive Director said, “This year’s annual banker’s conference aims at analyzing the key issues affecting the banking sector and offer recommendations to shape how the sector runs and the interventions required. Over the years, we have referred to feedback sessions taken from these conferences to develop policies and regulations to help grow the banking sector. Government has provided a number of policy frameworks that enable embracing technology.

“The financial sector has embarked on partnerships with fintechs, telecoms to serve their customers better through digital/technology led platforms. We have continued to dialogue with government to change policies and taxes that hinder the adoption digital changes,” he said.

He said the banking sector has witnessed the emergence of innovations and technologies such as online banking, mobile banking, contactless ATM cards, among other service platforms which have been embraced by the public.

He said the outbreak of the Covid-19 pandemic has brought to the fore the necessity and possibilities of the digital economy.

MasterCard, the official sponsor for this year’s event was represented by Shehryar Ali, Country Manager, East Africa. He promised continuous support as a key partner in the growth, development and transformation of the financial ecosystem in Uganda. “

He said, “Covid-19 has taught us that we are all interconnected and our well-being as individuals is only as effective as a community. Today, millions of Small and Medium Enterprises (SMEs), women entrepreneurs and those who are financially excluded have been badly impacted. It is upon us as leaders of the financial sector to collaborate and solve the problems facing our country and communities. UBA is playing the primary role as a corporate body to bridge the gap between public and private sectors to help, solve financial problems. MasterCard is delighted to be the main sponsor for this collaboration and solution driven Annual Bankers Conference.”

He called upon the government, private sector, Ffntechs, NGOs, and the entire financial sector to lend a hand to those impacted by Covid-19 pandemic and drive the agenda of the financial inclusion.

The Bankers’ Conference is a key activity in UBA’s annual calendar that brings together regulators, practitioners and various industry experts from domestic, regional, international and national spheres involved in delivering financial/banking services.

The fourth Annual Bankers’ Conference has been organized by Uganda Bankers Association (UBA) and sponsored by MasterCard, Raxio Data Center, FINCA, Experian, Stanbic Bank, Financial Sector Deepening Uganda and KCB Bank.

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