Equity Bank Uganda, in partnership with the Financial Technologies Service Providers Association (FITSPA), recently hosted an exclusive Fintech Engagement Breakfast at the Golden Tulip Hotel in Kampala. The event brought together key stakeholders from Uganda’s thriving financial technology ecosystem, including fintech innovators and regulatory authorities such as the Bank of Uganda (BOU), the Uganda Microfinance Regulatory Authority (UMRA), the Capital Markets Authority (CMA), the Financial Intelligence Authority (FIA), and the National Information Technology Authority (NITA).
The engagement served as a platform for fintech companies to explore collaboration opportunities, address industry challenges, and discover new digital solutions offered by Equity Bank Uganda. These solutions aim to accelerate financial deepening and promote financial inclusion across Uganda.
Mr. Gift Shoko, Managing Director of Equity Bank Uganda, emphasized the importance of strategic partnerships in the future of banking. He noted that banking is no longer solely the domain of banks but increasingly about collaborating with fintechs and sharing infrastructure to create seamless banking experiences.
“Equity Bank views fintechs not just as clients but as partners in driving financial inclusion, fostering innovation, and enhancing efficiencies for businesses and communities across Africa,” Shoko said. “We are not just here for account holders; we are here to be your infrastructure partners. By opening our banking rails, APIs, and payment systems, we enable fintechs to scale their operations and contribute to financial inclusion, innovation, and efficiencies across Uganda and beyond.”
As a platinum member of FITSPA since May 2023, Equity Bank Uganda continues to lead the charge in providing fintech-driven financial solutions. The bank offers customized banking products designed to meet the unique needs of fintech enterprises, with a technology stack, integration frameworks, and strategic partnerships that equip fintechs to scale effectively.
FITSPA plays a crucial role in shaping Uganda’s fintech landscape by advocating for a favorable regulatory environment and promoting collaboration across the industry. Doreen Lukandwa, Vice Chairperson of FITSPA Uganda, underscored the power of partnerships in advancing financial inclusion.
“The future of digital finance is about collaboration, not isolation. Equity Bank Uganda and fintechs are joining forces to create better solutions and drive financial inclusion,” Lukandwa said. “Equity Bank brings strong networks, while fintechs bring innovation. Together, we can overcome key challenges and accelerate the growth of digital finance in Uganda.”
Johnson Galabuzi, Head of Personal Banking at Equity Bank, highlighted the bank’s commitment to empowering businesses and individuals through tailored financial solutions. These include overdrafts, digital financing, business and agricultural support, savings and investment options, salary and personal loans, and seamless mobile banking services.
“At Equity Bank, we focus on helping our customers grow and remain financially stable,” Galabuzi said. “Whether you’re a business owner needing overdraft support, an entrepreneur using digital funds, or someone looking for smart savings and investment options, we have the right solutions for you.”
James Sserumaga, Head of Bancassurance at Equity Bank, discussed the increasing intersection between technology and financial services, highlighting the vast opportunities for fintechs and businesses to leverage integrated systems. He also addressed the risks that businesses face, particularly in relation to cyber threats and payment failures, stressing the need for collaborative solutions.
“Equity Bank Uganda invites you to collaborate in building a framework to cover our exposures,” Sserumaga said. “Cyber and commercial risks are high, and our processes and platforms require protection. Few can meet cyber requirements alone. Together, we can create a fallback position.”
The event also emphasized the importance of seamless integration between banks and fintechs to expand digital payment services, enhance cross-border transactions, and develop innovative financial solutions tailored to the needs of Ugandans. Equity Bank Uganda showcased various revenue opportunities for fintechs, including mobile money partnerships, forex services, and co-branded financial products.
With over 50 branches, more than 8,000 Equi-Duukas, 2,420 POS terminals, and digital banking solutions like Eazzy247, Equity Bank continues to lead the effort in increasing financial accessibility across Uganda.
