FinTechs association to celebrate five years milestone

The umbrella body for FinTechs in Uganda, Financial Technologies Services Providers’ Association (FITSPA), will October 13, 2020, celebrate five years of existence.

Speaking to journalists in Kampala, Kevin Wavah, FITSPA Board Vice-Chairperson, described the last five years as tremendous for the association.

On the same day (October 13), Wavah said, they will have the FITSPA Annual FINTECH Conference 2022.

“The financial services sector has undergone a series of digital disruptions that have led to the emergence of a FinTech industry that is succeeding either as stand-alone or crucial part of value chains. 

“On 13th October 2022, stakeholders in the industry will converge to discuss the progress being made in the industry as more FinTechs get licensed and the challenges that still lie ahead,” Wavah stated.

The theme of this year’s conference is; “Investments and partnerships – how to thrive in Uganda’s FinTech ecosystem”.

Amongst the key topics lined up for the conference are regulation, capital, digital trade and digital financial services and green finance. 

FITSPA will also launch two key products; the deal book and a feasibility study. These two products will uniquely position the industry players to take advantage of the market opportunities. 

The growth of the industry has exposed the need for FinTechs to collaborate with the different specialised and non-specialised professional services to realise wholesome business growth. 

‘The future is clear’

With just five members a few years ago when it was launched, FITSPA now boasts of 189 members, with the industry confident that following the recent move by the Central Bank to regulate their operation, the future is clear. 

“We are aware of the challenges that lie ahead of us, and we need to improve. There are indeed cases of fraud, but this problem is experienced worldwide. Regulation is good and we know it will clean up the industry and improve service delivery.

Source: New Vision