In the last week of April, licensed Fintechs operating in Uganda hit a significant milestone. For the first time, various businesses in the Financial Technology service providers industry were able to publish their financial performance in newspapers of wide circulation as required by the National Payment Systems Regulations
The notable Fintechs that published their financial performance include.
In case you missed the publication of the financial performance of the Fintechs, follow the link to access their respective publications in no particular order.
All the fintechs listed actively contribute to important endeavours like financial inclusion by delivering last mile financial services to either individuals or enterprises and in some cases, both.
To the Fintech ecosystem, the publication of financial performance further legitimizes the operation of Fintech businesses and qualifies them among transparent and accountable businesses which are strategically positioned to support the economy of Uganda as a nation. This also means that ecosystem players will now have even more trust in the fintech businesses that have demonstrated accountability and transparency hence putting them in the category of recognized corporate entities.
The publication of financial performance is imperative for businesses since it gives insight into the financial health of a business by highlighting its performance, as well as its cash flow.
FITSPA will continue to render all the necessary support to local and international fintechs operating in Uganda with an aim of helping them to realize their full potential while at the same time, providing value to the Financial and non-financial services ecosystem in which it operates and the country at large.