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Uganda Fintech Weekly Buzz, Volume 15 (12th - 17th April 2026)

Daniel Tusiimukye

daniel@fitspa.ug

Apr 17, 2026

In this week’s Fintech Buzz, we highlight the major developments shaping Uganda’s fintech and digital finance landscape; from telecom operators pushing for lower mobile money taxes and banks posting stronger profits, to expanding digital skills, youth enterprise support, and fresh momentum in regional fintech innovation. The stories reflect a sector that is steadily evolving through policy engagement, financial inclusion, infrastructure growth, and technology-driven transformation across Uganda and the wider African market.

MTN, Airtel Push for Reduction of Mobile Money Tax

Telecom and mobile money operators have urged Parliament to reduce the excise duty on mobile money withdrawals from 0.5% to 0.25%, arguing that the current tax is slowing financial inclusion and digital transformation. Appearing before a parliamentary committee, representatives from MTN Uganda, MoMo from MTN, and Airtel Money Uganda said the high withdrawal charge discourages usage of digital financial services, particularly among low-income users. Industry leaders believe lowering the tax would strengthen adoption and support Uganda’s transition toward a more inclusive digital economy.

From PostBank to Pearl: A Homegrown Bank Reimagining Banking in Uganda

Pearl Bank Uganda, formerly PostBank Uganda, has reported a 34% increase in profit to Shs47.3 billion, highlighting strong performance as the institution deepens its digital transformation strategy. Customer deposits rose by 43% to Shs1.42 trillion, while balances on its Wendi mobile wallet grew significantly, reflecting increased customer confidence in digital banking. The bank’s evolution signals a broader shift toward impact-driven banking that blends financial sustainability with inclusion across Uganda.

Digital Push Seeks to Turn Mobile Phones into Growth Engines for Small Businesses in Luweero

A new initiative in Luweero District is helping entrepreneurs use mobile phones as tools for business growth rather than simply for transactions. Led by United Nations Capital Development Fund (UNCDF) in partnership with Outbox Uganda and the Mastercard Foundation , the “Business Ku Ssimu Yo” campaign supports youth-led enterprises in improving efficiency, accessing wider markets, and unlocking financing through digital platforms. The programme is part of a broader effort to strengthen the digital economy and empower small businesses to scale sustainably.

MTN Uganda Expands Digital Skills Programme to Kabale

MTN Uganda is expanding its digital skills initiative with the launch of a new innovation hub in Kabale to increase access to ICT training and entrepreneurship opportunities beyond Kampala. The Kabale MTN Spark Hub, developed with support from the Ministry of ICT and National Guidance, will serve both university students and the wider community. The expansion builds on the success of the first phase of the MTN ACE Tech Programme, which has already trained thousands of young people across Uganda.

Absa Uganda Posts Shs222 Billion Profit

Absa Bank Uganda a has announced a net profit of Shs222 billion for the 2025 financial year, marking a 25.1% increase from the previous year’s performance. The bank says the growth reflects strategic decisions aimed at strengthening business operations, building trust, and expanding lending capacity. According to management, the results position the bank to play a stronger role in supporting businesses and driving broader economic growth in Uganda.

MTN Shareholders Reappoint Mbire as Chairman

MTN Uganda shareholders have overwhelmingly reappointed Charles Mbire as board chairman with 99% approval, reaffirming investor confidence in the company’s leadership. The annual general meeting also approved the appointment of Dr. David Ogong MBA FCCA MSC BA Fin BVM as a new director, strengthening the telecom’s governance structure. The decisions come amid rising share prices and continued growth in shareholder value, reflecting strong market confidence in MTN Uganda ’s long-term strategy.

Uganda’s Local Fintech Sector Faces a Governance Moment

Uganda’s fintech industry is entering a critical phase as rapid growth in mobile money and digital financial services creates new demands for stronger governance. While mobile money has transformed access to financial services for millions, questions are emerging around regulation, consumer protection, and long-term sustainability. Industry observers say the sector now needs stronger institutional structures to support innovation while maintaining public trust.

What Investors Are Missing in the Offline Fintech Boom

Uganda’s fintech growth story extends beyond apps and smartphones into a rapidly expanding offline agent network that continues to drive financial inclusion. With millions relying on mobile money agents for transactions, the country’s financial ecosystem is increasingly shaped by physical touchpoints in communities. Experts say investors often overlook this offline infrastructure, yet it remains essential for reaching rural users and sustaining digital finance growth.

MTN Uganda Approves UGX 184.7 Billion Dividend

MTN Uganda a shareholders have approved a final dividend payout of UGX 184.7 billion for the 2025 financial year, reflecting continued confidence in the telecom company’s financial strength and strategic direction. During the Annual General Meeting, shareholders also endorsed the audited financial statements and approved key governance decisions, including board appointments and the reappointment of external auditors. The resolutions underline investor trust in MTN’s ability to deliver value while sustaining growth in Uganda’s digital economy.

Uganda Eyes Infrastructure Boost in Talks with World Bank

Uganda has intensified discussions with the World Bank on financing key infrastructure projects as part of its long-term economic growth agenda. During the IMF and The World Bank Group Spring Meetings, government officials highlighted Uganda’s resilience despite global uncertainty, citing current GDP growth of 6.3 percent and stronger projections ahead. The talks focused on expanding investment in transport, energy, and development projects that can accelerate the country’s ambition of transforming the economy over the next decade.

Uganda and World Bank Discuss New Financing Strategy

Uganda’s delegation to Washington has held fresh talks with the World Bank on aligning future financing with the country’s tenfold growth strategy to 2040. The discussions explored project funding priorities, economic performance, and ways to strengthen development partnerships. Officials say the engagement reflects Uganda’s commitment to securing strategic investment that supports infrastructure, industrialisation, and broader national transformation.

Uganda, Kenya and Rwanda Prioritise SGR Financing

Finance ministers from Uganda, Kenya, and Rwanda have reaffirmed their commitment to securing financing for the Standard Gauge Railway project, which is seen as critical for regional trade and integration. Meeting during the IMF and World Bank Spring Meetings, the leaders emphasized the railway’s importance in lowering transport costs and connecting regional markets. The renewed commitment signals stronger cooperation among East African nations to deliver one of the region’s most ambitious infrastructure projects.

Ugandan Startup Selected for Qualcomm Africa Programme

Uganda’s TWAVE LIMITED has been selected among ten startups for Qualcomm’s 2026 “Make in Africa” Mentorship Program, a major initiative supporting deep-tech innovation across the continent. TWave’s solar-powered automated fish feeding system was recognised for its potential to improve productivity in aquaculture. The programme provides mentorship, technical training, and business development support to help African startups scale innovative solutions in emerging technology sectors.

I&M Bank Launches Multi-Currency Prepaid Cards

I&M Bank Uganda has introduced a multi-currency prepaid card designed to make both local and international payments easier for customers. The card allows users to load funds in advance and spend securely without needing a traditional bank account or credit facility. The product is part of the bank’s wider strategy to offer flexible digital payment solutions that respond to evolving customer needs in a more connected financial environment.

DTB Partners with Tea Association for Value Addition

Diamond Trust Bank Uganda has strengthened its partnership with the Uganda Tea Association to improve competitiveness and value addition in Uganda’s tea industry. During a retreat in Fort Portal, stakeholders discussed strategies to position Ugandan tea more strongly in global markets. The collaboration reflects growing interest by financial institutions in supporting agriculture as a driver of exports, employment, and economic diversification.

Youth Financial Inclusion Rising, Growth Still Limited

Uganda has made significant progress in youth financial inclusion, but many young entrepreneurs still struggle to access the patient capital needed to grow their businesses. Despite more people using banks, SACCOs, and mobile money platforms, affordable financing remains out of reach for many youth-led enterprises. Analysts say the next challenge is ensuring that financial access translates into sustainable business growth and job creation.

AFRICA

Visa Fintech Accelerator Supports Over 100 Startups

Visa’s Africa Fintech Accelerator has now supported more than 100 startups across the continent, marking a significant milestone in the growth of Africa’s digital finance ecosystem. The programme offers mentorship, strategic partnerships, and access to Visa’s global network to help innovators scale their businesses. With a new cohort now open for applications, the accelerator continues to strengthen collaboration across Africa’s fast-growing fintech sector.

Kenya’s Fintech Ecosystem Continues to Expand

Kenya remains one of Africa’s most influential fintech markets as its digital financial ecosystem evolves beyond mobile money into a broader digital economy. Backed by strong infrastructure, regulation, and innovation, the country continues to lead regional transformation. Industry experts say Kenya’s progress demonstrates how digital finance can become a foundation for national economic growth and regional leadership.

Africa Fintech Live 2026 Heads to Nairobi

Africa Fintech Live 2026 will bring together leaders from banking, payments, telecommunications, and fintech in Nairobi to discuss the future of finance across the continent. The event aims to promote collaboration, policy dialogue, and investment opportunities within Africa’s digital economy. Organisers say the conference will help shape the next generation of financial innovation in one of Africa’s fastest-growing technology regions.

Court Halts Nigeria’s Loan App Regulations

A Nigerian court has temporarily blocked enforcement of new digital lending regulations, exposing a deeper regulatory dispute within the country’s fintech sector. The case highlights tensions between agencies over who should oversee telecom-backed lending platforms and mobile credit products. Analysts say the ruling could significantly influence the future of digital lending regulation in one of Africa’s largest fintech markets.

Ethio Telecom to Join MWC Kigali 2026

ethiotelecom has confirmed participation in MWC Kigali 2026, where it will showcase its role in expanding digital infrastructure and fintech innovation in Ethiopia. The company’s presence reflects its growing focus on inclusive connectivity, digital financial services, and next-generation infrastructure. The event will gather African and global leaders to discuss the continent’s digital future.

East Africa’s Digital Future Moves Beyond Connectivity

A new TechTrends Magazine feature argues that East Africa’s digital transformation is entering a new phase where infrastructure matters more than simply getting people online. With digital payments now embedded in daily life, the region’s next challenge is building stronger systems that support scale, reliability, and innovation. Industry leaders say the real work now lies in strengthening the foundations of digital finance.

GLOBAL

Industry Collaboration Needed to Fight Mobile Money Fraud

Mobile Money Fintech Limited has called for stronger collaboration between banks, fintech firms, and digital platforms to combat rising fraud across mobile money systems. Company leaders say fraud has expanded beyond financial transactions into broader digital services, making isolated responses less effective. Industry cooperation is increasingly seen as essential to protecting users and strengthening trust in digital finance.

Finxact Named Best SaaS Platform at 2026 FinTech Awards

Finxact, the cloud-native banking platform from Fiserv, has been recognised as the Best SaaS Platform at the 2026 FinTech Awards for its role in helping financial institutions modernise core banking systems. The platform enables banks and fintech companies to build scalable digital financial services using real-time processing and open APIs. The recognition highlights the growing importance of flexible, cloud-based infrastructure in shaping the future of banking.

UK Banks Prepare to Use Powerful New AI Tool

Major UK banks are preparing to deploy a new artificial intelligence tool from Anthropic that was initially considered too advanced for public release. The system is designed to identify vulnerabilities in complex IT environments, raising both excitement and concern within the financial industry. While the technology could strengthen cybersecurity and operational efficiency, experts warn that powerful AI tools must be introduced carefully to avoid unintended risks.

Global Finance Recognises Banking Innovators of 2026

Global Finance has announced its 2026 Innovators Awards, recognising banks and fintech firms leading transformation across the financial sector. The awards celebrate organisations developing new solutions in artificial intelligence, cloud computing, and digital payments to improve customer experience and operational efficiency. Industry observers say the winners reflect how innovation is reshaping financial services into a faster and more technology-driven ecosystem.

UAE Banks Look to Digital Transformation for Growth

Banking leaders in the United Arab Emirates say digital transformation will be central to unlocking future growth opportunities in the sector. Following the UAE Central Bank’s latest annual report, experts noted that strong credit expansion, rising deposits, and economic diversification are creating room for banks to expand further. Technology is increasingly seen as the key enabler for improving efficiency, customer service, and long-term competitiveness.

AI Is Reshaping the Future of Investing

Artificial intelligence is rapidly changing how individuals and institutions make investment decisions by improving access to market data and personalised financial insights. Fintech firms are using AI to help investors analyse information faster, identify opportunities, and reduce information gaps that once favoured professionals. As adoption grows, experts believe AI could make investing more accessible while transforming how financial advice is delivered.