FITSPA Board changes, Outgoing and incoming board members

In 2017, the financial technology industry which had revolutionized the financial services sector for more than 20 years, experienced a turnaround of events.  Financial Technology companies, commonly known as Fintechs realized the urgent need to unite and with the support of the Financial Sector Deepening Uganda (FSDU), the Financial Technology Service Providers’ Association (FITSPA) was born. 

Last year, FITSPA celebrated 5 years, and among its achievements was having an operational Board of Directors that supports and works with the secretariat to deliver the strategy, vision, goal and objectives of the community and the ecosystem.

Join us in appreciating Gerald Begumisa, CEO of Yo! Uganda, Allan Rwakatungu, CEO of Xente Tech Limited, and Eric Kamau CEO of True Africa for believing the FITSPA vision and for their service which has built a strong foundation for the Association. 

Under their tenure, the association has grown immensely as they played an important role in driving the instatement of the National Payment Systems Act, 2020. The Fintech community commendably grew from just 7 founding members to 197 members and counting. Additionally, the stakeholder engagement of FITSPA greatly improved and this is evidenced by the diverse membership base, the invaluable relationships that have been built with other industry associations with which FITSPA has signed various Memoranda of Understanding and has consequently carried out programs and activities that have significantly contributed to Financial Services ecosystem in Uganda. 

It has been a great pleasure to have the outgoing board members on the leadership of FITSPA. The association will continue to rely on their support.

Incoming Board Members Introduction. 

On the 15th December 2022, FITSPA held its 6th Annual General Meeting were members elected 5 new board members to serve on the board.

 It is with great pleasure that we introduce our new FITSPA board members who bring a wealth of experience on the areas of Digital Financial Technology, Policy and Governance, Banking among other areas of expertise. 

Rashmi Pillai

Rashmi Pillai

Ms. Rashmi Pillai is a global executive with 17+ years of experience in impact investing, digital financial services, inclusive and competitive financial markets development and financial markets policy and regulation—across Africa and South Asia.

She is currently the Global Head of Public Policy for Wave Mobile Money. Previously she was the CEO at Financial Sector Deepening Uganda (FSDU). Prior to that she was a digital financial services technical expert to two organizations - CGAP, at the World Bank and the Better Than Cash Alliance at the UNCDF across multiple African countries.

Prior to the above she co-founded the "Sankalp Forum" - The first major impact investment deal flow platform in India for for-profit social enterprises and took it to scale. The forum has now expanded across South East Asia and East Africa.

Ms. Pillai has a Masters in Public Policy from Harvard Kennedy School of Government, Harvard University on a Fulbright Scholarship. She also holds another Masters in Spectroscopic Physics from M.S. University Baroda, India.

Doreen Lukandwa

Doreen Lukandwa

Vice President: Global Enterprises MFS Africa

Doreen is responsible for driving the acquisition & growth of MFSAfrica Enterprise solutions across the continent.

She has over 12 years of experience in the financial services sector in Africa, driving channel and partnership development, stakeholder engagement, capacity building, last-mile delivery and management. With a deep understanding of the challenges, processes, & strategies related to launching and sustainably scaling DFS products & services, in emerging markets.

Doreen is also the recipient of the inaugural Digital Impact Awards -Africa, “Women in FinTech Leadership Award- 2020”. This award seeks to recognize and appreciate a woman taking the lead in using DFS to promote gender equality.

Kenneth Kwesiga

Kenneth Kwesiga

Cofounder & CEO at ioTec Limited

Kenneth is currently the Cofounder and CEO at ioTec Limited - a financial technology company licensed and regulated by the Central Bank Of Uganda to build secure financial technology solutions that bring services closer to individuals and businesses through intuitive digital channels.

Kenneth has had a lustrous career of management, strategic execution and executive leadership within frontier, emerging and developed markets. In his previous roles, he has been exposed to leading and coordinating global teams working on technology-led projects in several diverse sectors such as investment banking, insurance, micro credit and financial technology.

Kenneth has fundamentally contributed to forming and shaping policy relevant to the financial technology sector through active stakeholder engagements, as well as cultivating industry wide partnerships and investor relationships.

Kenneth is an intense, smart, self-driven, and results oriented person with a high level of professionalism and a knack for financial technology.

He is currently an MBA Candidate at Edinburgh Business School, Heriot-Watt University. He also holds a Bachelor of Science (with distinctions) in Computer Applications from Sikkim Manipal University in India.

Kenneth Kwesiga

Benoni Okwenje

GM Financial Markets - Centenary Bank

I am currently the General Manager of the Financial Markets department at Centenary Bank. My role is to deliver Centenary Bank’s Foreign Exchange, Money Markets and Fixed Income budgets by designing and implementing the appropriate strategies. I am also a member of the Bank’s Executive Committee (EXCO). Over the last 14 years in the Treasury environment, I have been exposed to the various trading desks and treasury products. This experience has not only helped develop my professional skills but also compliments my previous work experience, having also worked with: Stanbic Bank Uganda, Bank of Uganda (central bank), New York Life Securities and the Bank of New York.

I am a graduate of Edinburgh Business School, Heriot-Watt University, having obtained a Master of Business Administration (MBA). For my undergraduate degree, I went to New York University’s Leonard N. Stern School of Business, having double majored in Finance & International Business. I am also Series 7 certified, making me a registered representative with the National Association of Securities Dealers (NASD). I have also obtained a dealing certificate through ACI – The Financial Market Association. On the latter, I was the ACI Uganda Chairman/President from 2018 – 2021. I am the DeputyChairoftheTreasurersForumCommittee,undertheUgandaBankersAssociation(UBA). Iam also a member of the Uganda Institute of Banking’s Academic Board (Senate). Most recently I completed the Strathmore Business School/University of Capetown/CEO Summit “CEO Apprenticeship Programme” in November 2021.

In my spare time, I enjoy reading and am a basketball fanatic. I also double as a music producer and DJ, having produced music for several artists and played music at many events all over the continent.

Richard Yego

Richard Yego
Managing Director & CEO at MTN Mobile Money Uganda Ltd

A versatile individual with over 15 years’ experience in Banking and Digital Financial Services. A results-oriented personnel with expertise in various payment systems in the Financial Services sector. The Digital Financial Services agenda in fostering Financial Inclusion in Uganda and the wider geographies remains paramount in this journey. With the Shared Agent Banking Infrastructure model in Uganda, the focus is to scale up distribution touch points and rapid customer acquisition to achieve the National Financial Inclusion objectives.

Managing Director/CEO Managing Director/CEO

MTN Mobile Money Uganda Limited

Key Performance Areas:

  • Ensure the development of Mobile Financial Services by putting in place a strategy, strategic growth plan, and providing clear direction and structure.
  • Deliver agreed business goals in accordance with overall business strategy with a high focus on Fintech workflow processes, the user experience (UX) as well as user journey mapping.
  • Responsibility for FinTech governance and compliance to national regulations and internal best practices
  • Provide overall direction for Financial Services by scanning and identifying new opportunities, analyzing changes in the competitive landscape, analyzing trends, costs, forecasts and implementing them for business value add.
  • Partner with the Sales Regional team to ensure that the distribution and merchant network has presence across the country and the distribution network is manage